Element Solutions Inc (ESI)
NEUTRALFundamental
59
Kurs
$34.95
Marktkapitalisierung
$8.49B
Teil 1 · Was das Unternehmen wert ist
Übersicht
Element Solutions makes the specialty chemicals other manufacturers use as production inputs, not branded end products. Its two segments sell process chemistries: Electronics supplies the assembly, circuitry and semiconductor materials used to build printed circuit boards and chips, while Specialties supplies industrial surface finishing, automotive and offshore energy chemistries. Customers are electronics assemblers, chipmakers, automotive suppliers and industrial platers who build these chemicals into their own manufacturing lines.
Wie das Geld verdient wird
Revenue comes from repeat sales of proprietary chemical formulations consumed in customers' production lines, not from one-off equipment sales. Because a chemistry is qualified into a specific manufacturing process before use, switching suppliers means re-validating the whole line, which discourages customers from changing. Electronics, tied to semiconductor and AI-infrastructure build-outs, has grown fastest; Specialties, exposed to automotive and industrial cycles, was the weaker segment in 2025, which also included the divestiture of the Graphics business.
Umsatz nach Segment
Assembly, circuitry and semiconductor process chemicals used to build printed circuit boards and chips, sold mainly into consumer electronics, data-centre and automotive electronics manufacturing.
Industrial surface finishing, automotive systems and offshore energy chemistries; revenue declined in 2025, partly due to the divestiture of the Graphics business.
Wettbewerbsvorteil
Wechselkosten · SchmalElement Solutions' chemistries are qualified into a customer's specific manufacturing process before use, and requalifying an alternative supplier's formulation means re-testing the whole production line. Legacy brands such as MacDermid Alpha and Enthone carry decades of qualification history with electronics and industrial customers, who weigh reliability and technical support alongside price when choosing a supplier.
Was die Nachfrage antreibt
ZyklischElectronics revenue tracks semiconductor and consumer-electronics production cycles, now lifted by AI-infrastructure and data-centre build-outs, while Specialties tracks automotive and industrial output. Both are inputs to someone else's manufacturing volume rather than steady end-consumer demand, so orders rise and fall with customers' own production schedules and capital spending.
Wichtigste Risiken
- Raw material and currency costs — The company sources chemical raw materials globally and states that price swings in these inputs and in currency exchange rates can pressure profitability if increases cannot be passed on to customers.
- Environmental and remediation liabilities — Element Solutions has been named a potentially responsible party under federal and state Superfund-type laws at current and former plant and waste-management sites, and accrues for environmental liabilities when they are probable and estimable.
- Competitive, technology-driven markets — The company operates in specialty chemicals markets it describes as highly competitive and subject to rapid technological change, where a customer can qualify a rival's formulation if performance or price falls behind.
Die Argumente dafür
Buyers argue that Electronics' exposure to AI-infrastructure and data-centre build-outs supports above-market growth, that qualification-driven switching costs protect share once a chemistry is designed into a customer's line, and that the agreed merger with Solstice Advanced Materials would create a larger, more diversified platform.
Die Argumente dagegen
Sellers worry that Specialties remains exposed to a softer automotive and industrial cycle, that raw-material and currency swings can compress margins the company cannot fully pass through, and that the pending Solstice merger introduces integration and approval risk before any benefits arrive.
Written by the editors, published on 18. August 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Bilanz & Liquidität
Umsatz
$2.80B
Letzte 12 Monate (bis 31.3.2026)
Nettogewinn
$149M
Letzte 12 Monate (bis 31.3.2026)
Freier Cashflow
$228M
Gesamtes Eigenkapital
$2.67B
Gesamtverbindlichkeiten
$2.41B
Current Ratio
2.68
Zinsdeckungsgrad
6.21
Schulden/EBITDA
4.37
Gewinn je Aktie
Umsatz & Nettogewinn
Freier Cashflow
Ertragsaufschlüsselung
Historische Aufstellung
Margen im Zeitverlauf
Verschuldung im Zeitverlauf
Wie schwer die Schulden wiegen
Wachstumsraster
Wachstum — Umsatz
Innerer-Wert-Schätzung
Innerer Wert
$36.46
Aktueller Kurs
$34.95
Sicherheitsmarge
+4.1%
Innerer-Wert-Spanne
$24.93 - $48.00
Bewertungsmethoden
Bewertungskennzahlen
P/E-Verhältnis
56.42
ROE
7.1%
P/B-Verhältnis
3.12
P/FCF
70.48
Bruttomarge
40.8%
ROIC
5.7%
Rentabilitäts-Radar
Value Creation (Economic Moat)
ROIC
5.7%
WACC
9.8%
ROIC − WACC
-4.1 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamentalanalyse-Kriterien
Bestanden (17)
- EPS shows upward trend
- Price CAGR 13.67%
- ROIC 5.7%
- Gross Margin 40.8%
- Debt/Equity ratio
- Operating Margin 13.4%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Revenue Growth 5Y 6.6%
- Analyst Consensus 79% Buy
- Earnings Surprise avg 4.6%
- Earnings Quality (OCF/NI) 1.33
- Share Dilution -0.1%
- Piotroski F-Score 6/9
Nicht bestanden (9)
- P/FCF 70.48
- P/B Ratio 3.12
- CapEx intensity
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- ROE 6.6%
- PEG Ratio 2.53
- Net Margin Trend 5.3% vs 11.6%
Nicht verfügbar (1)
- Dividend Payout NaN%
Piotroski F-Score
Gemischte Signale: Einige Bereiche bedürfen Aufmerksamkeit
Gewinnqualität
Hohe Qualität: Gewinne durch Cashflow gedeckt
Aktienverwässerung
Aktienrückkäufe. Aktionärsfreundlich
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. Benjamin Gliklich | CEO & Director | 40 |
| Mr. Carey James Dorman | President of Enterprise Operations & CFO | 36 |
| Mr. Richard L. Fricke | President of Electronics | 53 |
| Mr. Matthew Liebowitz | President of Specialties | 36 |
| Mr. Michael Russnok | Chief Accounting Officer | 48 |
| Ms. Caroline Simonne Lind | General Counsel & Company Secretary | - |
| Ms. Claudia Iweorah | Senior VP & Head of Human Resources | - |
| Tom Hunsinger | Vice President of Assembly Solutions | - |
| Mr. Varun Gokarn | Vice President of Strategy & Integration | - |
Prüfungsrisiko
9
Vorstandsrisiko
3
Vergütungsrisiko
10
Aktionärsrechterisiko
4
Teil 2 · Der Preis und der Einstiegszeitpunkt
Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.
Latest News
Recent headlines for ESI, sourced from Markets Gazette.