Recent News
On Nov. 11, 2025 Olin announced a long‑term ethylene dichloride (EDC) supply agreement with Braskem to support Brazil PVC production, following the company’s decision to reallocate EDC volumes after dissolving the Blue Water Alliance joint venture.
Technical Analysis
ADX at 25.93 indicates a strong directional market environment that supports meaningful short‑term moves; that strength raises the likelihood that the current technical setup will resolve with a clear directional move rather than chop.
DInegative stands at 30.12 with a peak & reversal, which signals DI‑ decreasing and therefore a bullish directional bias developing; DIpositive reads 16.97 with a dip & reversal, indicating DI+ increasing and reinforcing bullish momentum expectations.
MACD sits negative at -1.00 with a dip & reversal and a signal line at -0.90; momentum shows a bullish turn from recent lows, but MACD remains below the signal line and therefore has not issued a confirmed crossover buy signal.
MRO registers -33.95 and trends decreasing; the negative value indicates price below WMDST’s target and suggests material upside potential as mean‑regression pressure operates toward valuation targets.
RSI at 45.39 with a dip & reversal reveals a short‑term recovery from oversold conditions; momentum points toward rebound attempts while the oscillator remains below bullish territory thresholds.
Price behavior shows short‑term support near the 20‑day average ($20.37) and the 12‑day EMA ($20.39), with the 26‑day EMA ($21.46), 50‑day average ($23.35) and 200‑day average ($22.40) providing staged resistance; Ichimoku Tenkan and Kijun levels ($21.82 and $22.51) sit above the close, limiting scope for a sustained breakout.
Bollinger bands place the close inside the 1x band range (lower $18.95 / upper $21.80), implying room for a measured recovery toward the band center while volatility stays elevated given 42‑day and 52‑week volatilities of 4%.
Fundamental Analysis
Revenue grew 12.05% year‑over‑year, while revenue fell 5.28% quarter‑over‑quarter, indicating seasonal and operational softness against a rising annual base. Total revenue reached $1,758,300,000 and gross profit amounted to $138,100,000.
EBIT at $40,000,000 produces an EBIT margin of 2.28%, which sits above the industry peer mean of 1.47% but below the industry peer median of 4.47%, reflecting relatively better operating conversion than many peers but lagging top‑quartile margins. QoQ EBIT margin contracted 26.06% and YoY margin contracted 73.88%, underscoring rapid margin compression over the past year.
EBITDA totaled $169,900,000 while operating margin measured 2.43% and operating income reached $42,700,000; EBITDA and operating income dynamics benefited from temporary items and tax‑credit recognition in the most recent quarter.
Earnings per share arrived at $0.39 versus an estimate of $0.09, producing an EPS beat of $0.30 or roughly 333% above consensus, which lifted near‑term earnings credibility but did not eliminate fundamental margin pressures.
Cash generation shows free cash flow of $181,300,000 and a free cash flow yield of 7.47%, a level above the industry peer mean (negative), which strengthens liquidity signals despite high nominal leverage. Operating cash flow reached $212,300,000 and end‑period cash totaled $223,800,000.
Leverage presents material constraints: total debt $3,284,100,000 with net debt $2,772,900,000, debt‑to‑equity 167.80%, and debt‑to‑EBITDA roughly 19.33x; interest coverage at 0.85x fails to cover interest expense comfortably. These metrics sit above the industry peer mean for debt‑to‑equity and indicate elevated refinancing and interest sensitivity.
Capital allocation shows capital expenditures of $31,000,000 and capEx-to-revenue at -1.76%; book value per share stands at $17.07 and price‑to‑book at 1.24, slightly above the industry peer mean of 1.16. Asset turnover at 0.2295 exceeds the industry peer mean of 0.1903, suggesting relatively efficient use of assets to drive revenue.
Profitability ratios highlight stress: return on equity at -0.07% and return on assets at -0.017% reflect near‑break‑even net income recently, while gross margin at 7.85% sits below the industry peer mean of 10.11%, confirming cost or pricing pressure in core product lines.
Strategic news around EDC reallocation — dissolution of the Blue Water Alliance and a long‑term supply agreement with Braskem — shifts commodity exposure toward contracted, higher‑value vinyls relationships and supports structural margin improvement potential over time.
WMDST values the stock as over‑valued given elevated leverage, compressed margins, and a valuation multiple set above justified enterprise and earnings power under current conditions.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-10-27 |
| NEXT REPORT DATE: | 2026-01-26 |
| CASH FLOW | Begin Period Cash Flow | $ 174.0 M |
| Operating Cash Flow | $ 212.3 M | |
| Capital Expenditures | $ -31.00 M | |
| Change In Working Capital | $ 112.2 M | |
| Dividends Paid | $ -23.00 M | |
| Cash Flow Delta | $ 49.8 M | |
| End Period Cash Flow | $ 223.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.8 B | |
| Forward Revenue | $ -27.23 B | |
| COSTS | ||
| Cost Of Revenue | $ 1.6 B | |
| Depreciation | $ 129.9 M | |
| Depreciation and Amortization | $ 129.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.7 B | |
| PROFITABILITY | ||
| Gross Profit | $ 138.1 M | |
| EBITDA | $ 169.9 M | |
| EBIT | $ 40.0 M | |
| Operating Income | $ 42.7 M | |
| Interest Income | $ 1.2 M | |
| Interest Expense | $ 46.8 M | |
| Net Interest Income | $ -45.60 M | |
| Income Before Tax | $ -6.80 M | |
| Tax Provision | $ -4.00 M | |
| Tax Rate | 10.3 % | |
| Net Income | $ -1.30 M | |
| Net Income From Continuing Operations | $ -2.80 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.09 | |
| EPS Actual | $ 0.39 | |
| EPS Difference | $ 0.30 | |
| EPS Surprise | 333.333 % | |
| Forward EPS | $ 0.70 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 7.7 B | |
| Intangible Assets | $ 1.6 B | |
| Net Tangible Assets | $ 338.0 M | |
| Total Current Assets | $ 2.3 B | |
| Cash and Short-Term Investments | $ 223.8 M | |
| Cash | $ 223.8 M | |
| Net Receivables | $ 950.4 M | |
| Inventory | $ 919.1 M | |
| Long-Term Investments | $ 70.6 M | |
| LIABILITIES | ||
| Accounts Payable | $ 901.0 M | |
| Short-Term Debt | $ 19.2 M | |
| Total Current Liabilities | $ 1.5 B | |
| Net Debt | $ 2.8 B | |
| Total Debt | $ 3.3 B | |
| Total Liabilities | $ 5.7 B | |
| EQUITY | ||
| Total Equity | $ 2.0 B | |
| Retained Earnings | $ 2.3 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 17.07 | |
| Shares Outstanding | 114.642 M | |
| Revenue Per-Share | $ 15.34 | |
| VALUATION | Market Capitalization | $ 2.4 B |
| Enterprise Value | $ 5.5 B | |
| Enterprise Multiple | 32.305 | |
| Enterprise Multiple QoQ | -2.029 % | |
| Enterprise Multiple YoY | 52.888 % | |
| Enterprise Multiple IPRWA | high: 100.927 median: 44.164 mean: 42.781 OLN: 32.305 low: -85.347 |
|
| EV/R | 3.122 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.918 | |
| Asset To Liability | 1.35 | |
| Debt To Capital | 0.627 | |
| Debt To Assets | 0.428 | |
| Debt To Assets QoQ | -1.552 % | |
| Debt To Assets YoY | 2593.648 % | |
| Debt To Assets IPRWA | high: 0.972 OLN: 0.428 median: 0.374 mean: 0.359 low: 0.001 |
|
| Debt To Equity | 1.678 | |
| Debt To Equity QoQ | 1.075 % | |
| Debt To Equity YoY | 2842.757 % | |
| Debt To Equity IPRWA | high: 1.939 OLN: 1.678 median: 1.111 mean: 0.895 low: -3.408 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.241 | |
| Price To Book QoQ | -13.325 % | |
| Price To Book YoY | -54.399 % | |
| Price To Book IPRWA | high: 2.938 median: 1.531 OLN: 1.241 mean: 1.162 low: -0.695 |
|
| Price To Earnings (P/E) | 1072.937 | |
| Price To Earnings QoQ | 115.105 % | |
| Price To Earnings YoY | 1353.364 % | |
| Price To Earnings IPRWA | OLN: 1072.937 high: 98.712 median: 98.712 mean: 60.747 low: -80.679 |
|
| PE/G Ratio | -32.188 | |
| Price To Sales (P/S) | 1.381 | |
| Price To Sales QoQ | -20.921 % | |
| Price To Sales YoY | -60.934 % | |
| Price To Sales IPRWA | high: 3.603 mean: 2.453 median: 2.381 OLN: 1.381 low: 0.127 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 30.733 | |
| Forward PE/G | -0.922 | |
| Forward P/S | -0.089 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -3.019 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.23 | |
| Asset Turnover Ratio QoQ | 6.319 % | |
| Asset Turnover Ratio YoY | 6.595 % | |
| Asset Turnover Ratio IPRWA | high: 0.297 OLN: 0.23 median: 0.217 mean: 0.19 low: 0.077 |
|
| Receivables Turnover | 1.787 | |
| Receivables Turnover Ratio QoQ | 4.918 % | |
| Receivables Turnover Ratio YoY | -10.02 % | |
| Receivables Turnover Ratio IPRWA | high: 5.101 mean: 2.342 median: 2.306 OLN: 1.787 low: 1.5 |
|
| Inventory Turnover | 1.806 | |
| Inventory Turnover Ratio QoQ | 2.566 % | |
| Inventory Turnover Ratio YoY | 8.958 % | |
| Inventory Turnover Ratio IPRWA | high: 1.963 OLN: 1.806 median: 1.447 mean: 1.401 low: 0.396 |
|
| Days Sales Outstanding (DSO) | 51.066 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 53.547 | |
| Cash Conversion Cycle Days QoQ | -1.45 % | |
| Cash Conversion Cycle Days YoY | 5.262 % | |
| Cash Conversion Cycle Days IPRWA | high: 203.338 mean: 65.746 median: 56.995 OLN: 53.547 low: -28.879 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.374 | |
| CapEx To Revenue | -0.018 | |
| CapEx To Depreciation | -0.239 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 4.9 B | |
| Net Invested Capital | $ 5.0 B | |
| Invested Capital | $ 5.0 B | |
| Net Tangible Assets | $ 338.0 M | |
| Net Working Capital | $ 740.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.145 | |
| Current Ratio | 1.479 | |
| Current Ratio QoQ | -5.452 % | |
| Current Ratio YoY | 3.435 % | |
| Current Ratio IPRWA | high: 5.406 mean: 1.998 median: 1.774 OLN: 1.479 low: 1.207 |
|
| Quick Ratio | 0.885 | |
| Quick Ratio QoQ | -7.49 % | |
| Quick Ratio YoY | 7.415 % | |
| Quick Ratio IPRWA | high: 2.102 mean: 1.231 median: 1.042 OLN: 0.885 low: 0.518 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 19.33 | |
| Cost Of Debt | 1.118 % | |
| Interest Coverage Ratio | 0.855 | |
| Interest Coverage Ratio QoQ | -18.077 % | |
| Interest Coverage Ratio YoY | -72.186 % | |
| Interest Coverage Ratio IPRWA | high: 15.559 median: 2.898 mean: 1.042 OLN: 0.855 low: -5.619 |
|
| Operating Cash Flow Ratio | 0.156 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 52.261 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -0.057 | |
| Dividend Payout Ratio | -17.692 | |
| Dividend Rate | $ 0.20 | |
| Dividend Yield | 0.009 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.169 % | |
| Revenue Growth | 6.94 % | |
| Revenue Growth QoQ | -528.131 % | |
| Revenue Growth YoY | 1204.511 % | |
| Revenue Growth IPRWA | OLN: 6.94 % high: 3.76 % mean: 1.273 % median: -0.247 % low: -0.949 % |
|
| Earnings Growth | -33.333 % | |
| Earnings Growth QoQ | -53.846 % | |
| Earnings Growth YoY | -178.333 % | |
| Earnings Growth IPRWA | high: 192.857 % median: 87.879 % mean: 22.684 % OLN: -33.333 % low: -150.0 % |
|
| MARGINS | ||
| Gross Margin | 7.854 % | |
| Gross Margin QoQ | -13.158 % | |
| Gross Margin YoY | -45.703 % | |
| Gross Margin IPRWA | high: 32.826 % median: 10.277 % mean: 10.106 % OLN: 7.854 % low: 2.027 % |
|
| EBIT Margin | 2.275 % | |
| EBIT Margin QoQ | -26.064 % | |
| EBIT Margin YoY | -73.881 % | |
| EBIT Margin IPRWA | high: 6.294 % median: 4.466 % OLN: 2.275 % mean: 1.471 % low: -8.093 % |
|
| Return On Sales (ROS) | 2.428 % | |
| Return On Sales QoQ | -21.092 % | |
| Return On Sales YoY | -72.124 % | |
| Return On Sales IPRWA | high: 6.233 % median: 4.139 % OLN: 2.428 % mean: 1.837 % low: -5.365 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 181.3 M | |
| Free Cash Flow Yield | 7.466 % | |
| Free Cash Flow Yield QoQ | -245.451 % | |
| Free Cash Flow Yield YoY | 1171.891 % | |
| Free Cash Flow Yield IPRWA | OLN: 7.466 % high: 4.55 % mean: -0.907 % median: -1.031 % low: -7.463 % |
|
| Free Cash Growth | -222.999 % | |
| Free Cash Growth QoQ | -15.053 % | |
| Free Cash Growth YoY | 3047.925 % | |
| Free Cash Growth IPRWA | high: -6.534 % mean: -79.6 % median: -82.298 % low: -151.329 % OLN: -222.999 % |
|
| Free Cash To Net Income | -139.462 | |
| Cash Flow Margin | 13.701 % | |
| Cash Flow To Earnings | -185.308 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -0.017 % | |
| Return On Assets QoQ | -206.25 % | |
| Return On Assets YoY | -101.749 % | |
| Return On Assets IPRWA | high: 1.087 % median: 0.323 % OLN: -0.017 % mean: -0.196 % low: -3.991 % |
|
| Return On Capital Employed (ROCE) | 0.653 % | |
| Return On Equity (ROE) | -0.001 | |
| Return On Equity QoQ | -210.0 % | |
| Return On Equity YoY | -101.9 % | |
| Return On Equity IPRWA | high: 0.141 median: 0.01 mean: 0.002 OLN: -0.001 low: -0.089 |
|
| DuPont ROE | -0.066 % | |
| Return On Invested Capital (ROIC) | 0.638 % | |
| Return On Invested Capital QoQ | 5.98 % | |
| Return On Invested Capital YoY | -100.362 % | |
| Return On Invested Capital IPRWA | high: 1.435 % median: 0.997 % OLN: 0.638 % mean: 0.391 % low: -1.917 % |
|