What is Eastman Chemical Co worth?
With the base-case assumptions below, a discounted cash flow model on Eastman Chemical Co's reported free cash flow gives $18.84 per share. The share price was $66.97 on September 25, 2026, 256% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -4.5% | 10.0% | -$0.44 | -101% |
| Base | 0.5% | 9.0% | $18.84 | -72% |
| Bull | 5.5% | 8.0% | $56.36 | -16% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $32.20 | $36.21 | $41.10 | $47.22 | $55.09 |
| 8.0% | $22.28 | $24.88 | $27.95 | $31.64 | $36.14 |
| 9.0% | $15.01 | $16.79 | $18.84 | $21.23 | $24.05 |
| 10.0% | $9.45 | $10.71 | $12.14 | $13.78 | $15.67 |
| 11.0% | $5.06 | $5.98 | $7.02 | $8.18 | $9.50 |
Where the presets come from
Base: years 1 to 5 grow at Eastman Chemical Co's revenue growth rate over the last 5 fiscal years (0.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions