Celanese Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Celanese Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	5,389	6,140	7,155	6,297	5,655	8,537	9,673	10,926	10,268	9,544
Cost of revenue	3,984	4,629	5,183	4,691	4,362	5,855	7,293	8,343	7,932	7,592
Gross profit	1,405	1,511	1,972	1,606	1,293	2,682	2,380	2,583	2,336	1,952
Research and development	78	73	72	67	74	86	112	146	130	125
Selling, general and administrative	378	496	546	483	482	633	824	1,077	1,033	899
Operating income	934	857	1,334	834	664	1,946	1,378	1,665	-720	-786
Interest expense	120	122	125	115	109	91	405	720	676	701
Interest income	2	2	6	6	6	8	69	39	33	24
Other non-operating income	-2	3	8	-8	5	-5	9	25	40	7
Pre-tax income	1,030	1,075	1,510	988	2,251	2,248	1,421	1,161	-1,019	-1,220
Income tax	122	213	292	124	247	330	-489	-795	507	-90
Income from continuing operations	902	856	1,212	858	1,997	1,912	1,902	1,952	-1,534	-1,144
Net income to minority interests	6	6	6	6	7	6	8	4	8	14
Net income	900	843	1,207	852	1,985	1,890	1,894	1,943	-1,542	-1,165
EBITDA	1,224	1,162	1,677	1,186	1,014	2,317	1,840	2,371	81	-26
EPS, basic	6.21	6.11	8.99	6.88	16.85	16.99	17.48	17.85	-14.11	-10.64
EPS, diluted	6.18	6.09	8.91	6.84	16.75	16.86	17.34	17.76	-14.11	-10.64
Shares, basic (weighted)	145	138	134	124	118	111	108	109	109	110
Shares, diluted (weighted)	146	138	135	125	118	112	109	109	109	110

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	638	576	439	463	955	536	1,508	1,805	962	1,263
Short-term investments	30	32	31	40	533	10
Receivables	801	986	1,017	850	792	1,161	1,379	1,243	1,121	922
Inventory	720	900	1,046	1,038	978	1,524	2,808	2,357	2,284	2,220
Other current assets	60	54	40	43	55	80	241	272	266	251
Total current assets	2,472	2,792	2,874	2,765	3,763	3,807	6,611	6,218	5,126	5,693
Property, plant and equipment	3,577	3,762	3,719	3,713	3,939	4,193	5,584	5,584	5,273	5,076
Lease right-of-use assets			0	203	232	236	413	422	388	359
Goodwill	796	1,003	1,057	1,074	1,166	1,412	7,142	6,977	5,387	4,171
Intangible assets	194	301	310	312	319	735	4,105	3,975	3,641	3,184
Other non-current assets	307	338	290	338	411	521	547	524	555	601
Total assets	8,357	9,538	9,313	9,476	10,909	11,975	26,272	26,597	22,838	21,695
Accounts payable	625	807	819	780	797	1,160	1,518	1,510	1,228	1,279
Accrued liabilities	97	113	119	89	121	135	151	175	166	147
Short-term debt	118	326	561	496	496	791	1,306	1,383	1,501	1,204
Total current liabilities	1,077	1,559	1,779	1,754	1,973	2,505	4,068	4,072	3,890	3,683
Long-term debt	2,890	3,315	2,970	3,409	3,227	3,176	13,373	12,301	11,078	11,394
Lease liabilities			0	181	208	200	364	325	294	265
Other non-current liabilities	215	413	208	223	214	164	387	591	408	817
Total liabilities	5,336	6,239	5,934	6,578	7,014	7,438	20,167	19,071	17,275	17,223
Total debt	2,938	3,398	3,355	3,455	3,671	3,722	13,953	13,400	12,527	12,614
Paid-in capital	157	175	233	254	257	333	372	394	409	431
Retained earnings	4,320	4,920	5,847	6,399	8,091	9,677	11,274	12,929	11,054	9,876
Treasury stock	-1,531	-2,031	-2,849	-3,846	-4,494	-5,492	-5,491	-5,488	-5,486	-5,482
Other comprehensive income	-358	-177	-247	-300	-328	-329	-518	-744	-848	-776
Shareholders' equity	2,588	2,887	2,984	2,507	3,526	4,189	5,637	7,065	5,129	4,049
Minority interests	433	412	395	391	369	348	468	461	434	423
Total equity	3,021	3,299	3,379	2,898	3,895	4,537	6,105	7,526	5,563	4,472
Total liabilities and equity	8,357	9,538	9,313	9,476	10,909	11,975	26,272	26,597	22,838	21,695
Shares outstanding		136	128	120	114	108	108	109	109

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	906	849	1,213	858	1,992	1,896	1,902	1,947	-1,534	-1,151
Depreciation and amortization	290	305	343	352	350	371	462	706	801	760
Stock-based compensation	31	47	71	48	28	95	60	40	32	24
Deferred income tax	84	-146	333	-17	108	7	-849	-965	189	-251
Change in receivables	-59	-110	-48	165	141	-396	218	105	92	213
Change in inventory	8	-97	-158	6	124	-367	-253	398	11	154
Change in payables	7	126	15	-59	-6	353	-84	20	-234	26
Cash from operations	893	803	1,558	1,454	1,343	1,757	1,819	1,899	966	1,146
Capital expenditures	-246	-267	-337	-370	-364	-467	-543	-568	-435	-343
Acquisitions	-178	-269	-144	-91	-100	-1,142	-10,589	52	0	0
Purchases of investments		0	0	-16	-544	0	0
Sales and maturities of investments			0	0	43	516	0	0
Cash from investing	-439	-549	-507	-493	592	-1,119	-11,141	-134	-470	-349
Debt issued	1,509	351	561	499	0	990	10,769	3,001	328	4,352
Debt repaid	-1,127	-77	-536	-360	-30	-786	-526	-3,660	-1,033	-4,652
Stock issued	6	1	0	-1	0	0	0	0	1
Share buybacks	-500	-500	-805	-996	-650	-1,000	-17	0	0
Dividends paid	-201	-241	-280	-300	-293	-304	-297	-305	-307	-13
Cash from financing	-759	-351	-1,165	-935	-1,471	-1,042	10,290	-1,456	-1,313	-513
Exchange rate effect	-24	35	-23	-2	28	-15	4	-12	-26	17
Net change in cash	-329	-62	-137	24	492	-419	972	297	-843	301
Free cash flow	647	536	1,221	1,084	979	1,290	1,276	1,331	531	803
Interest paid	130	130	133	118	120	105	122	780	701	671
Income taxes paid	129	123	100	157	167	215	273	237	349	255

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $47.09 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	20.9%	Gross profit / revenue.
Operating margin	-7.1%	Operating income / revenue.
EBITDA margin	1.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-11.6%	Pre-tax income / revenue.
Net margin	-12.0%	Net income / revenue.
FCF margin	7.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.1%	Cash from operations / revenue.
Return on equity (ROE)	-28.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-5.5%	Net income / average total assets.
Return on invested capital (ROIC)	-3.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	1.2%	Research and development expense / revenue.
SG&A / revenue	9.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.8%	Capital expenditures / revenue.
D&A / revenue	8.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-7.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-16.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-6.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-132.1%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	18.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-14.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-3.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	51.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-14.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-3.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-21.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-10.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-6.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	14.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.45x	Current assets / current liabilities.
Quick ratio	0.66x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.34x	(Cash + short-term investments) / current liabilities.
Debt / equity	2.88x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	56.1%	Total debt / total assets.
Liabilities / assets	78.6%	Total liabilities / total assets.
Net debt	$10.65B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	74.5x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.96x	Operating income / interest expense.
Working capital	$1.79B	Current assets - current liabilities.
Goodwill and intangibles / assets	33.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$3.06B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.45x	Revenue / average total assets.
Fixed asset turnover	2.02x	Revenue / average property, plant and equipment.
Inventory turnover	3.33x	Cost of revenue / average inventory.
Days inventory	110 days	365 x average inventory / cost of revenue.
Receivables turnover	7.54x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	71 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	87 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	28.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$10.60	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$88.09	Revenue / diluted weighted shares.
FCF per share	$6.42	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.93	Cash from operations / diluted weighted shares.
Book value per share	$37.80	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$27.75	Tangible book value / shares outstanding.
Cash per share	$12.37	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	1.8%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$5.17B	Share price x shares outstanding.
Enterprise value	$15.82B	Market cap + total debt - cash - short-term investments.
P/S	0.53x	Market cap / revenue.
P/B	1.24x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	7.30x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.25x	Market cap / cash from operations, when positive.
EV/Sales	1.63x	Enterprise value / revenue.
EV/EBITDA	111x	Enterprise value / EBITDA, when both are positive.
EV/FCF	22.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	13.7%	Free cash flow / market cap.
Earnings yield	-22.6%	Net income / market cap (the inverse of P/E).
Dividend yield	0.3%	Dividends paid over the period / market cap.
Shareholder yield	0.3%	(Dividends paid + share buybacks) / market cap.

What was Celanese Corp's revenue in fiscal 2025?

Celanese Corp reported revenue of $9.54B for fiscal 2025, 7.1% lower than the year before.

Was Celanese Corp profitable in fiscal 2025?

No. It reported a net loss of $1.17B.

How much free cash flow did Celanese Corp generate in fiscal 2025?

Cash from operations of $1.15B minus capital expenditures of $343.0M left free cash flow of $803.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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