Element Solutions Inc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Element Solutions Inc 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	3,586	3,776	1,961	1,836	1,854	2,400	2,549	2,333	2,457	2,551
Cost of revenue	993	1,065	1,123	1,048	1,068	1,439	1,597	1,415	1,421	1,481
Gross profit	777	814	838	788	786	961	953	919	1,036	1,071
Research and development	45	46.4	44.3	42.2	48.6	49.7	48.8	68.1	63	67.6
Selling, general and administrative	596	567	545	497	505	611	579	597	629	661
Operating expenses	688	614	589	539	553	661	627	745	692	728
Operating income	89.4	200	249	249	233	300	325	174	344	342
Other non-operating income	-321	-461	-302	-108	-152	-48.2	-53.3	-44.5	-56.2	-76.6
Pre-tax income	-232	-260	-53.2	141	81.1	252	272	129	288	266
Income tax	-41.3	-68.6	23.8	61.3	4.3	48.3	85.8	13	44.8	74.6
Net income to minority interests	-3	0.6	4.5	0.7	0	0.4	0.8	0.1	0.3	0.2
Net income	-73.7	-296	-324	92.2	75.7	203	187	118	244	191
EBITDA	245	356	405	404	394	464	487	340	502	493
EPS, basic	-0.17	-1.04	-1.13	0.36	0.30	0.82	0.76	0.49	1.01	0.79
EPS, diluted	-0.65	-1.04	-1.13	0.35	0.30	0.82	0.76	0.49	1.01	0.79
Shares, basic (weighted)	243	286	288	258	249	247	245	241	242	242
Shares, diluted (weighted)	272	286	288	260	250	248	246	242	243	242
Dividend per share	0.00	0.00	22.85		0.05	0.25	0.32	0.32	0.32	0.32

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	423	258	234	190	292	330	266	289	359	627
Receivables	1,055	400	382	364	403	492	456	462	440	518
Inventory	416	186	188	200	203	274	291	299	246	295
Other current assets	106	43.7	42.5	50.3	67.5	88.4	138	115	137	115
Total current assets	2,071	2,341	2,482	833	990	1,215	1,189	1,198	1,270	1,583
Property, plant and equipment	461	287	267	265	240	278	277	297	277	320
Lease right-of-use assets				61.1	56	60.2	85.1	90.3	79.7	83.8
Goodwill	2,132	2,253	2,183	2,180	2,253	2,526	2,413	2,337	2,132	2,242
Intangible assets	3,233	1,161	1,025	944	856	957	806	879	732	657
Other non-current assets	110	42.4	32.9	95.7	64	81.3	168	143	141	125
Total assets	10,054	10,252	9,402	4,324	4,483	5,138	4,904	4,974	4,874	5,101
Accounts payable	384	111	101	96.8	95.6	138	132	141	121	166
Accrued liabilities	104	61.1	55.2	47.5	70.3	106	57	58.2	79.7	78.1
Short-term debt	116	10.1	25.3	7.8	7.4	12.7	11.5	11.5	10.4	0
Total current liabilities	1,083	1,092	1,143	294	314	415	344	369	380	430
Long-term debt	5,123	5,437	5,351	1,513	1,508	1,894	1,884	1,921	1,814	1,626
Lease liabilities				46.3	40.1	42.1	71.4	78.1	66.4	69.5
Other non-current liabilities	146	85.5	129	128	187	152	169	202	153	241
Total liabilities	7,164	7,392	7,220	2,105	2,165	2,638	2,555	2,630	2,476	2,412
Total debt	5,236	5,505	5,402	1,543	1,535	1,930	1,914	1,950	1,839	1,636
Paid-in capital	3,981	4,032	4,062	4,114	4,123	4,167	4,186	4,197	4,214	4,279
Retained earnings	-574	-870	-1,195	-1,537	-1,473	-1,332	-1,224	-1,183	-1,017	-905
Treasury stock	0	-0.1	-3.5	-78.9	-138	-159	-334	-342	-350	-394
Other comprehensive income	-675	-422	-757	-281	-195	-197	-298	-346	-467	-309
Shareholders' equity	2,736	2,743	2,109	2,221	2,320	2,481	2,333	2,329	2,383	2,675
Minority interests	154	117	71.9	-1.6	-1.7	20.1	16.6	15.8	15.4	14.9
Total equity	2,890	2,860	2,181	2,219	2,318	2,501	2,349	2,344	2,398	2,689
Total liabilities and equity	10,054	10,252	9,402	4,324	4,483	5,138	4,904	4,974	4,874	5,101
Shares outstanding	284

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-76.7	-296	-320	92.9	75.7	204	188	118	245	191
Depreciation and amortization	156	156	157	155	161	164	161	167	158	151
Stock-based compensation	7.3	11.8	15.4	11.8	6	40.1	17.7	9.4	14.8	59.1
Deferred income tax	-42.4	-134	-54.7	-3.1	-53	-46.7	15.1	-69.9	-39.2	-12.6
Change in receivables	-42.4	-21.5	0.9	21.8	-27.3	-48.7	6.4	-6.8	-29.9	-57.6
Change in inventory	7.6	-9.2	-18.8	-3.8	1.4	-46.5	-31.2	-9.5	7.8	-39.1
Change in payables	-9.2	-3.3	-5.5	-7	-5.3	16.8	-0.1	0.3	-1	27.4
Cash from operations	185	182	-0.8	171	276	326	296	334	362	290
Capital expenditures	-32.6	-30.8	-28.4	-29.7	-28.8	-46.3	-47.8	-52.7	-68.4	-62.2
Acquisitions	-1.2	0	-28.2	-63.9	-9	-537	-22.6	-215	-3.9
Cash from investing	-74.7	-92.6	-23.8	4,200	-39.9	-569	-75.2	-250	-73.8	286
Debt issued		4,143	0	1,493	800	398	0	1,297	1,040	0
Debt repaid	-3,340	-4,123	-22.5	-5,351	-808	-10	-16.4	-1,264	-1,153	-203
Stock issued	392	1.4	1.4
Share buybacks		0	0	-507	-55.7	-19.6	-151	0	0	-25
Dividends paid			0	0	-12.4	-61.9	-78.4	-77.4	-78.2	-77.8
Cash from financing	-102	-67.4	-1.4	-4,439	-124	290	-276	-58.7	-207	-320
Exchange rate effect	-17.5	33.1					-11.4	-3.2	-13.1	11.6
Net change in cash	-9.1	60.4	-68.3	-225	102	38.2	-64.5	23.7	70.1	267
Free cash flow	152	151	-29.2	141	247	280	248	281	294	228
Interest paid	360	323
Income taxes paid	121	145								98.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $35.71 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	40.8%	Gross profit / revenue.
Operating margin	13.4%	Operating income / revenue.
EBITDA margin	17.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	8.3%	Pre-tax income / revenue.
Net margin	5.3%	Net income / revenue.
Effective tax rate	35.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	5.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.6%	Net income / average total assets.
Return on invested capital (ROIC)	5.1%	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	2.6%	Research and development expense / revenue.
SG&A / revenue	24.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	2.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	3.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.0%	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	6.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-0.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	1.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	8.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-1.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	0.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	4.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-21.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	0.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	20.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-21.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	1.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	21.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-19.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-0.7%	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	1.0%	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	-22.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-2.8%	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	-1.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	45.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	12.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.7%	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	2.9%	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	4.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.3%	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	2.6%	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	-0.1%	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	-0.5%	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	-0.6%	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	2.68x	Current assets / current liabilities.
Quick ratio	1.57x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.33x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.79x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	37.6%	Total debt / total assets.
Liabilities / assets	52.1%	Total liabilities / total assets.
Net debt	$1.98B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.16x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$914.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	62.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$829.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.49x	Revenue / average total assets.
Fixed asset turnover	6.94x	Revenue / average property, plant and equipment.
Inventory turnover	3.93x	Cost of revenue / average inventory.
Days inventory	93 days	365 x average inventory / cost of revenue.
Receivables turnover	4.13x	Revenue / average receivables.
Days sales outstanding	88 days	365 x average receivables / revenue.
Days payables	40 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	141 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.61	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	$11.48	Revenue / diluted weighted shares.
Book value per share	$11.22	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$3.41	Tangible book value / shares outstanding.
Cash per share	$0.73	(Cash + short-term investments) / shares outstanding.
Payout ratio	52.6%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$8.70B	Share price x shares outstanding.
Enterprise value	$10.68B	Market cap + total debt - cash - short-term investments.
P/E	58.5x	Market cap / net income. Only when net income is positive.
P/S	3.11x	Market cap / revenue.
P/B	3.18x	Market cap / shareholders' equity. Only when equity is positive.
EV/Sales	3.82x	Enterprise value / revenue.
EV/EBIT	28.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	22.5x	Enterprise value / EBITDA, when both are positive.
Earnings yield	1.7%	Net income / market cap (the inverse of P/E).
Dividend yield	0.9%	Dividends paid over the period / market cap.
Shareholder yield	0.9%	(Dividends paid + share buybacks) / market cap.
PEG	45.1x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Element Solutions Inc's revenue in fiscal 2025?

Element Solutions Inc reported revenue of $2.55B for fiscal 2025, 3.8% higher than the year before.

Was Element Solutions Inc profitable in fiscal 2025?

Yes. Net income was $190.8M, a net margin of 7.5%.

How much free cash flow did Element Solutions Inc generate in fiscal 2025?

Cash from operations of $289.8M minus capital expenditures of $62.2M left free cash flow of $227.6M.

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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