Eastman Chemical Co. (EMN) intrinsic value & 10-year financials
Eastman Chemical Co. (EMN) has a Graham intrinsic value of $3.96 per share. At $62.33 on Oct 17, 2026, the stock trades 1474% above that value. Over the last 10 fiscal years revenue shrank 0.3% a year to $8.8B, with an average return on invested capital of 8.3%.
- Graham intrinsic value
- $3.96
- Share price (Oct 17, 2026)
- $62.33
- Price vs Graham value
- 1474% above
- Market cap
- $7.2B
- Revenue (FY2025)
- $8.8B
- Revenue growth (10-yr CAGR)
- -0.3%
- ROIC (10-yr avg)
- 8.3%
- Free cash flow (FY2025)
- $424.0M
EMN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $8.8B | $474.0M | $4.10 | $424.0M | — | 4.7% |
| FY2024 | $9.4B | $905.0M | $7.67 | $688.0M | — | 9.2% |
| FY2023 | $9.2B | $894.0M | $7.49 | $546.0M | — | 9.1% |
| FY2022 | $10.6B | $793.0M | $6.35 | $364.0M | — | 7.8% |
| FY2021 | $10.5B | $857.0M | $6.25 | $1.1B | — | 8.0% |
| FY2020 | $8.5B | $478.0M | $3.50 | $1.1B | — | 4.2% |
| FY2019 | $9.3B | $759.0M | $5.48 | $1.1B | — | 6.5% |
| FY2018 | $10.2B | $1.1B | $7.56 | $1.0B | — | 9.2% |
| FY2017 | $9.5B | $1.4B | $9.47 | $1.0B | 16.0% | 13.5% |
| FY2016 | $9.0B | $854.0M | $5.75 | $759.0M | 15.4% | 10.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
EASTMAN CHEMICAL CO is facing top-line stagnation, with revenue contracting over the decade.
EASTMAN CHEMICAL CO returns on capital have been average, hovering around 8.3% ROIC over the decade.
Over the decade, EASTMAN CHEMICAL CO shows that management has aggressively returned capital to shareholders by retiring 22.1% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, EASTMAN CHEMICAL CO is modeled at -3.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.96 per share.