This page shows Eastman Chem Co (EMN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Eastman's cash generation is still intact, but margin compression and inventory-heavy working capital sharply reduce flexibility.
In FY2025, operating cash flow was$970M against net income of$474M , so cash generation held up better than the earnings line suggests. But$546M of capex cut that to free cash flow of$424M , showing that this business remains meaningfully capital-consuming even in a softer year. Dividends of$381M consumed most of that remaining cash, leaving a much smaller buffer for optional uses.
Across FY2023-FY2025, revenue softness coincided with inventory staying near
The quieter strength is the balance-sheet posture: debt-to-equity improved to 0.7x while the current ratio stayed at 1.4x in FY2025. At the same time, net margin fell to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Eastman Chem Co's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Eastman Chem Co's revenue declined 6.7% year-over-year, from $9.4B to $8.8B. This contraction results in a growth score of 29/100.
Eastman Chem Co carries a low D/E ratio of 0.70, meaning only $0.70 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.
Eastman Chem Co's current ratio of 1.37 is below the typical benchmark, resulting in a score of 23/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Eastman Chem Co has a free cash flow margin of 4.8%, earning a moderate score of 40/100. The company generates positive cash flow after capital investments, but with room for improvement.
Eastman Chem Co's ROE of 8.0% shows moderate profitability relative to equity, earning a score of 38/100. This is down from 15.7% the prior year.
Eastman Chem Co passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Eastman Chem Co generates $2.05 in operating cash flow ($970.0M OCF vs $474.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Eastman Chem Co generated $8.8B in revenue in fiscal year 2025. This represents a decrease of 6.7% from the prior year.
Eastman Chem Co reported $474.0M in net income in fiscal year 2025. This represents a decrease of 47.6% from the prior year.
Eastman Chem Co earned $4.10 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 46.5% from the prior year.
Cash & Balance Sheet
Eastman Chem Co generated $424.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 38.4% from the prior year.
Eastman Chem Co held $566.0M in cash against $4.2B in long-term debt as of fiscal year 2025.
Eastman Chem Co paid $3.33 per share in dividends in fiscal year 2025. This represents an increase of 2.1% from the prior year.
Eastman Chem Co had 114M shares outstanding in fiscal year 2025. This represents a decrease of 0.9% from the prior year.
Margins & Returns
Eastman Chem Co's gross margin was 21.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.3 percentage points from the prior year.
Eastman Chem Co's net profit margin was 5.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.2 percentage points from the prior year.
Eastman Chem Co's ROE was 8.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.7 percentage points from the prior year.
Capital Allocation
Eastman Chem Co invested $255.0M in research and development in fiscal year 2025. This represents an increase of 2.0% from the prior year.
Eastman Chem Co invested $546.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 8.8% from the prior year.
EMN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.2B+10.3% | $2.0B-10.4% | $2.2B-3.7% | $2.3B-0.1% | $2.3B+2.0% | $2.2B-8.9% | $2.5B+4.3% | $2.4B |
| Cost of Revenue | $1.7B+6.8% | $1.6B-7.6% | $1.8B-0.7% | $1.8B+3.4% | $1.7B+1.9% | $1.7B-9.0% | $1.9B+5.4% | $1.8B |
| Gross Profit | $431.0M+27.5% | $338.0M-21.9% | $433.0M-14.4% | $506.0M-10.8% | $567.0M+2.3% | $554.0M-8.4% | $605.0M+1.0% | $599.0M |
| R&D Expenses | $60.0M+3.4% | $58.0M-7.9% | $63.0M-6.0% | $67.0M0.0% | $67.0M+1.5% | $66.0M+1.5% | $65.0M+8.3% | $60.0M |
| SG&A Expenses | $178.0M+11.9% | $159.0M-0.6% | $160.0M+1.9% | $157.0M-13.7% | $182.0M0.0% | $182.0M-0.5% | $183.0M+1.7% | $180.0M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | -$52.0M0.0% | -$52.0M+3.7% | -$54.0M-1.9% | -$53.0M-8.2% | -$49.0M+5.8% | -$52.0M-6.1% | -$49.0M+2.0% | -$50.0M |
| Income Tax | $29.0M+131.2% | -$93.0M-206.9% | $87.0M+200.0% | $29.0M-58.6% | $70.0M+305.9% | -$34.0M-134.3% | $99.0M+76.8% | $56.0M |
| Net Income | $107.0M+1.9% | $105.0M+123.4% | $47.0M-66.4% | $140.0M-23.1% | $182.0M-44.8% | $330.0M+83.3% | $180.0M-21.7% | $230.0M |
| EPS (Diluted) | $0.93 | N/A | $0.40-66.7% | $1.20-23.6% | $1.57 | N/A | $1.53-21.1% | $1.94 |
EMN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.2B+2.4% | $14.9B-0.8% | $15.0B-1.6% | $15.2B+1.7% | $15.0B-1.6% | $15.2B+1.0% | $15.1B+0.8% | $14.9B |
| Current Assets | $4.1B+11.3% | $3.6B-3.7% | $3.8B-5.8% | $4.0B+3.1% | $3.9B-4.9% | $4.1B+4.2% | $3.9B+2.5% | $3.8B |
| Cash & Equivalents | $665.0M+17.5% | $566.0M+15.7% | $489.0M+15.6% | $423.0M+1.2% | $418.0M-50.1% | $837.0M+34.6% | $622.0M+21.0% | $514.0M |
| Inventory | $2.1B+4.9% | $2.0B+2.2% | $1.9B-9.9% | $2.2B+1.7% | $2.1B+6.4% | $2.0B+4.4% | $1.9B+0.2% | $1.9B |
| Accounts Receivable | $949.0M+28.8% | $737.0M-21.0% | $933.0M-5.6% | $988.0M+10.5% | $894.0M+13.0% | $791.0M-19.3% | $980.0M+2.4% | $957.0M |
| Goodwill | $3.7B-0.1% | $3.7B | N/A | $3.7B+0.6% | $3.6B+0.3% | $3.6B-0.6% | $3.7B+0.4% | $3.6B |
| Total Liabilities | $9.1B+3.6% | $8.8B-3.4% | $9.1B-1.9% | $9.3B+3.2% | $9.0B-3.6% | $9.4B+0.3% | $9.3B+0.9% | $9.2B |
| Current Liabilities | $2.8B+4.4% | $2.7B+23.0% | $2.2B-9.7% | $2.4B+5.2% | $2.3B-16.2% | $2.7B+4.6% | $2.6B-5.5% | $2.7B |
| Long-Term Debt | $4.5B+5.9% | $4.2B-12.2% | $4.8B+0.1% | $4.8B+1.0% | $4.7B+3.7% | $4.6B-0.8% | $4.6B+6.2% | $4.3B |
| Total Equity | $6.0B+0.8% | $6.0B+3.3% | $5.8B-1.1% | $5.8B-0.6% | $5.9B+1.6% | $5.8B+2.2% | $5.7B+0.5% | $5.6B |
| Retained Earnings | $10.1B+0.1% | $10.1B+0.1% | $10.1B-0.5% | $10.1B+0.4% | $10.1B+0.9% | $10.0B+2.4% | $9.8B+0.9% | $9.7B |
EMN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$137.0M-127.3% | $502.0M+24.9% | $402.0M+72.5% | $233.0M+239.5% | -$167.0M-130.9% | $540.0M+36.4% | $396.0M+7.9% | $367.0M |
| Capital Expenditures | $103.0M-8.0% | $112.0M-18.2% | $137.0M-8.7% | $150.0M+2.0% | $147.0M-17.9% | $179.0M+49.2% | $120.0M+4.3% | $115.0M |
| Free Cash Flow | -$240.0M-161.5% | $390.0M+47.2% | $265.0M+219.3% | $83.0M+126.4% | -$314.0M-187.0% | $361.0M+30.8% | $276.0M+9.5% | $252.0M |
| Investing Cash Flow | -$104.0M-121.3% | -$47.0M+65.7% | -$137.0M+6.8% | -$147.0M-12.2% | -$131.0M+0.8% | -$132.0M-29.4% | -$102.0M+15.7% | -$121.0M |
| Financing Cash Flow | $341.0M+189.3% | -$382.0M-90.0% | -$201.0M-123.3% | -$90.0M+27.4% | -$124.0M+31.5% | -$181.0M+6.7% | -$194.0M+14.5% | -$227.0M |
| Dividends Paid | $96.0M+2.1% | $94.0M-2.1% | $96.0M+1.1% | $95.0M-1.0% | $96.0M+2.1% | $94.0M-1.1% | $95.0M0.0% | $95.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
EMN Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.8%+2.7pp | 17.1%-2.5pp | 19.7%-2.5pp | 22.1%-2.6pp | 24.8%+0.1pp | 24.7%+0.1pp | 24.6%-0.8pp | 25.4% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 4.9%-0.4pp | 5.3%+3.2pp | 2.1%-4.0pp | 6.1%-1.8pp | 8.0%-6.7pp | 14.7%+7.4pp | 7.3%-2.4pp | 9.7% |
| Return on Equity | 1.8%+0.0pp | 1.8%+1.0pp | 0.8%-1.6pp | 2.4%-0.7pp | 3.1%-2.6pp | 5.7%+2.5pp | 3.2%-0.9pp | 4.1% |
| Return on Assets | 0.7%-0.0pp | 0.7%+0.4pp | 0.3%-0.6pp | 0.9%-0.3pp | 1.2%-0.9pp | 2.2%+1.0pp | 1.2%-0.3pp | 1.5% |
| Current Ratio | 1.47+0.1 | 1.37-0.4 | 1.76+0.1 | 1.68-0.0 | 1.72+0.2 | 1.510.0 | 1.52+0.1 | 1.40 |
| Debt-to-Equity | 0.74+0.0 | 0.70-0.1 | 0.830.0 | 0.82+0.0 | 0.81+0.0 | 0.79-0.0 | 0.81+0.0 | 0.77 |
| FCF Margin | -11.0%-30.8pp | 19.8%+7.7pp | 12.0%+8.4pp | 3.6%+17.3pp | -13.7%-29.8pp | 16.1%+4.9pp | 11.2%+0.5pp | 10.7% |
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Frequently Asked Questions
What is Eastman Chem Co's annual revenue?
Eastman Chem Co (EMN) reported $8.8B in total revenue for fiscal year 2025. This represents a -6.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Eastman Chem Co's revenue growing?
Eastman Chem Co (EMN) revenue declined by 6.7% year-over-year, from $9.4B to $8.8B in fiscal year 2025.
Is Eastman Chem Co profitable?
Yes, Eastman Chem Co (EMN) reported a net income of $474.0M in fiscal year 2025, with a net profit margin of 5.4%.
How much debt does Eastman Chem Co have?
As of fiscal year 2025, Eastman Chem Co (EMN) had $566.0M in cash and equivalents against $4.2B in long-term debt.
What is Eastman Chem Co's gross margin?
Eastman Chem Co (EMN) had a gross margin of 21.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Eastman Chem Co's net profit margin?
Eastman Chem Co (EMN) had a net profit margin of 5.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Eastman Chem Co pay dividends?
Yes, Eastman Chem Co (EMN) paid $3.33 per share in dividends during fiscal year 2025.
What is Eastman Chem Co's return on equity (ROE)?
Eastman Chem Co (EMN) has a return on equity of 8.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Eastman Chem Co's free cash flow?
Eastman Chem Co (EMN) generated $424.0M in free cash flow during fiscal year 2025. This represents a -38.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Eastman Chem Co's operating cash flow?
Eastman Chem Co (EMN) generated $970.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Eastman Chem Co's total assets?
Eastman Chem Co (EMN) had $14.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Eastman Chem Co's capital expenditures?
Eastman Chem Co (EMN) invested $546.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Eastman Chem Co spend on research and development?
Eastman Chem Co (EMN) invested $255.0M in research and development during fiscal year 2025.
What is Eastman Chem Co's current ratio?
Eastman Chem Co (EMN) had a current ratio of 1.37 as of fiscal year 2025, which is considered adequate.
What is Eastman Chem Co's debt-to-equity ratio?
Eastman Chem Co (EMN) had a debt-to-equity ratio of 0.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Eastman Chem Co's return on assets (ROA)?
Eastman Chem Co (EMN) had a return on assets of 3.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Eastman Chem Co's Piotroski F-Score?
Eastman Chem Co (EMN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Eastman Chem Co's earnings high quality?
Eastman Chem Co (EMN) has an earnings quality ratio of 2.05x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Eastman Chem Co?
Eastman Chem Co (EMN) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.