Trinseo PLC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Trinseo PLC 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	3,717	4,448	4,623	3,374	2,745	4,828	4,966	3,675	3,513	2,975
Cost of revenue	3,124	3,808	4,094	3,074	2,424	4,129	4,693	3,533	3,248	2,809
Gross profit	592	640	529	300	321	699	272	142	266	166
Selling, general and administrative	239	239	257	277	228	323	399	310	327	417
Operating income	498	525	414	143	150	461	-364	-455	-46	-254
Other non-operating income	-17.9	21.5	-3.7	-3.4	-7.9	-9	6.4	17.2	-3.9	25.2
Pre-tax income	405	411	364	99.8	105	351	-470	-633	-318	-503
Income tax	87	82.8	71.8	12.7	42.7	70.9	-41.6	68.4	30.5	42.6
Net income	318	328	293	92	7.9	440	-431	-701	-349	-546
EBITDA	595	636	545	234	242	629	-127	-234	164	37.4
EPS, basic	6.84	7.49	6.83	2.28	0.20	11.37	-11.99	-19.88	-9.86	-15.24
EPS, diluted	6.70	7.30	6.70	2.26	0.20	11.12	-11.99	-19.88	-9.86	-15.24
Shares, basic (weighted)	46.5	43.8	42.8	40.3	38.3	38.7	35.9	35.3	35.3	35.8
Shares, diluted (weighted)	47.5	45	43.7	40.7	38.6	39.6	35.9	35.3	35.3	35.8
Dividend per share	0.90	1.38	1.56	1.60	1.28	0.80	1.28	0.17	0.04	0.02

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	465	433	452	456	589	573	212	259	210	147
Inventory	385	510	510	438	324	621	554	405	347	316
Other current assets	18.1	17.5	20.5	25.9	15.1	44.3	39.4	39.5	51.3	37.5
Total current assets	1,433	1,646	1,631	1,491	1,517	1,979	1,391	1,194	988	865
Property, plant and equipment	510	627	592	626	431	719	691	644	576	524
Lease right-of-use assets				70.8	77.8	85.3	76.1	65.3	63.9	56.2
Goodwill	38	72.5	69	56.7	62.1	710	410	63.8	59.9	67.7
Intangible assets	177	208	191	192	163	824	772	694	599	493
Total assets	2,421	2,772	2,727	2,759	2,845	4,712	3,760	3,029	2,644	2,280
Accounts payable	378	437	354	343	355	590	438	450	263	284
Short-term debt	5	7	7	11.1	12.2	18.5	16	20.9	211	213
Total current liabilities	542	627	537	528	533	914	689	673	721	715
Long-term debt	1,160	1,165	1,161	1,163	1,158	2,306	2,302	2,278	2,201	2,333
Lease liabilities				58	65.5	69.2	60.2	51.7	53.3	47.9
Other non-current liabilities	246	256	215	300	395	307	229	252	252	252
Total liabilities	1,974	2,097	1,958	2,090	2,255	3,699	3,340	3,297	3,264	3,378
Total debt	1,165	1,172	1,168	1,174	1,170	2,324	2,318	2,299	2,412	2,545
Paid-in capital	574	579	575	575	580	468	487	504	515	521
Retained earnings	261	528	753	781	739	742	265	-443	-793	-1,339
Treasury stock	-218	-287	-418	-525	-543	-50	-200	-200	-200	-200
Other comprehensive income	-170	-146	-142	-162	-186	-147	-131	-130	-142	-80.3
Shareholders' equity	448	675	769	669	590	1,013	420	-268	-620	-1,098
Total equity	448	675	769	669	590	1,013	420	-268	-620	-1,098
Total liabilities and equity	2,421	2,772	2,727	2,759	2,845	4,712	3,760	3,029	2,644	2,280
Shares outstanding	44.3	43.4	41.6	39	38.4	37.9	35.1	35.2	35.4	36

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	318	328	293	92	7.9	440	-431	-701	-349	-546
Depreciation and amortization	96.4	111	130	91.5	92.6	168	237	221	210	292
Stock-based compensation	17.1	13.8	15.8	13	11.1	15.2	18.6	19.5	14.4	9.9
Deferred income tax	16.1	14.8	5.3	-37.4	7.9	-2.1	-93.3	41.4	-2.7	22.4
Change in receivables	-96.4	-51.8	21.2	66.6	57.4	-215	129	106	99.5	51.7
Change in inventory	-51	-80.2	-16	43.1	47.7	-214	31.8	150	46.4	46.4
Cash from operations	404	391	367	323	255	453	43.5	149	-14.2	-102
Capital expenditures	-124	-147	-121	-84	-66.6	-118	-148	-69.7	-63.3	-51
Acquisitions		-82.3		0.1	0.1	-1,804	-22.2
Cash from investing	-117	-183	-119	-109	-24.2	-1,540	-164	-31.7	-55.1	-41
Debt repaid	-5
Stock issued	0.2	9.3	2.8	0.9	2.6	11	3	0.1
Share buybacks	-215	-88.9	-143	-120	-25	-48.1	-152
Dividends paid	-27.3	-58	-66	-65.7	-61.8	-21.9	-47.5	-17.9	-1.7	-1.2
Cash from financing	-248	-253	-222	-207	-104	1,076	-234	-66	26.4	73.5
Exchange rate effect	-5	12
Net change in cash	33.8	-32.3	19.5	5.1	131	-15.7	-361	49.4	-49.2	-62.9
Free cash flow	280	244	245	239	189	335	-105	79	-77.5	-153
Interest paid	69.4	63.3	50.7	39.7	39.5	62.4	103	167	200	195
Income taxes paid	66.6	75	85.2	66.3	10.3	37.2	98.2	37.8	21.1	30.2

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 $0.01 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	7.6%	Gross profit / revenue.
Operating margin	-7.2%	Operating income / revenue.
EBITDA margin	2.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-18.6%	Pre-tax income / revenue.
Net margin	-20.0%	Net income / revenue.
FCF margin	-13.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-11.7%	Cash from operations / revenue.
Return on assets (ROA)	-23.9%	Net income / average total assets.
Return on invested capital (ROIC)	-11.4%	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%.
SG&A / revenue	14.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.8%	Capital expenditures / revenue.
D&A / revenue	9.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-15.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-15.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-37.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-15.2%	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	-12.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-77.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 5y	-31.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-50.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-75.0%	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	-56.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-13.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-15.4%	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	-4.3%	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	1.4%	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	-1.5%	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	1.17x	Current assets / current liabilities.
Quick ratio	0.18x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.18x	(Cash + short-term investments) / current liabilities.
Debt / assets	121.0%	Total debt / total assets.
Liabilities / assets	153.9%	Total liabilities / total assets.
Net debt	$2.84B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	41.2x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$166.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	20.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.86B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.19x	Revenue / average total assets.
Fixed asset turnover	6.05x	Revenue / average property, plant and equipment.
Inventory turnover	7.04x	Cost of revenue / average inventory.
Days inventory	52 days	365 x average inventory / cost of revenue.
Days payables	31 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$16.30	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	$81.31	Revenue / diluted weighted shares.
FCF per share	-$10.96	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$9.49	Cash from operations / diluted weighted shares.
Book value per share	-$36.81	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$50.74	Tangible book value / shares outstanding.
Cash per share	$4.96	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$475.3K	Share price x shares outstanding.
Enterprise value	$2.84B	Market cap + total debt - cash - short-term investments.
P/S	0.00x	Market cap / revenue.
EV/Sales	0.96x	Enterprise value / revenue.
EV/EBITDA	41.2x	Enterprise value / EBITDA, when both are positive.
FCF yield	-84,372.0%	Free cash flow / market cap.
Earnings yield	-125,527.0%	Net income / market cap (the inverse of P/E).
Dividend yield	168.3%	Dividends paid over the period / market cap.
Shareholder yield	168.3%	(Dividends paid + share buybacks) / market cap.

What was Trinseo PLC's revenue in fiscal 2025?

Trinseo PLC reported revenue of $2.97B for fiscal 2025, 15.3% lower than the year before.

Was Trinseo PLC profitable in fiscal 2025?

No. It reported a net loss of $545.6M.

How much free cash flow did Trinseo PLC generate in fiscal 2025?

Cash from operations of $102.4M minus capital expenditures of $51.0M left free cash flow of -$153.4M.

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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