LyondellBasell Industries N.V. (LYB) intrinsic value & 10-year financials
LyondellBasell Industries N.V. (LYB) has a Graham intrinsic value of $35.09 per share. At $64.01 on Oct 17, 2026, the stock trades 82% above that value. Over the last 10 fiscal years revenue grew 0.7% a year to $30.2B, with an average return on invested capital of 17.6%.
- Graham intrinsic value
- $35.09
- Share price (Oct 17, 2026)
- $64.01
- Price vs Graham value
- 82% above
- Market cap
- $21.1B
- Revenue (FY2025)
- $30.2B
- Revenue growth (10-yr CAGR)
- 0.7%
- ROIC (10-yr avg)
- 17.6%
- Free cash flow (FY2025)
- $384.0M
LYB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $30.2B | -$738.0M | -$2.34 | $384.0M | -1.4% | -2.1% |
| FY2024 | $40.3B | $1.4B | $4.15 | $2.0B | 4.5% | 7.6% |
| FY2023 | $41.1B | $2.1B | $6.46 | $3.4B | 7.4% | 11.7% |
| FY2022 | $49.4B | $3.9B | $11.81 | $4.2B | 10.3% | 19.3% |
| FY2021 | $45.1B | $5.6B | $16.75 | $5.7B | 15.0% | 26.0% |
| FY2020 | $27.0B | $1.4B | $4.24 | $1.5B | 5.8% | 7.7% |
| FY2019 | $33.9B | $3.4B | $9.58 | $2.3B | 12.1% | 18.6% |
| FY2018 | $38.1B | $4.7B | $12.01 | $3.4B | 13.7% | 26.9% |
| FY2017 | $33.7B | $4.9B | $12.23 | $3.7B | 16.2% | 32.9% |
| FY2016 | $28.5B | $3.8B | $9.13 | $3.4B | 17.8% | 27.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
LyondellBasell has demonstrated mature, steady growth, with revenue compounding at 0.6% annually over the past decade.
LyondellBasell has earned high returns on invested capital, averaging 17.6% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
LyondellBasell has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, LyondellBasell is modeled at 0.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $35.09 per share.