Financials Olin Corporation

Equities

OLN

US6806652052

Commodity Chemicals

Real-time Estimate Cboe BZX Other stock markets 20:35:46 30/04/2024 BST			5-day change	1st Jan Change
52.24 ^USD	-2.42%		-2.52%	-3.23%

04-29	RBC Capital Cuts Olin's Price Target to $63 From $69, Keeps Outperform Rating	MT
04-29	Stifel Adjusts Price Target on Olin to $69 From $68, Maintains Buy Rating	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,754	3,877	9,167	7,251	6,612	6,394	-	-
Enterprise Value (EV) ¹	5,874	7,551	11,766	9,637	9,111	8,896	8,626	8,426
P/E ratio	-246 x	-4 x	7.23 x	5.92 x	15.1 x	14.8 x	8.19 x	7.09 x
Yield	4.64%	3.26%	1.39%	1.51%	1.48%	1.51%	1.49%	1.6%
Capitalization / Revenue	0.45 x	0.67 x	1.03 x	0.77 x	0.97 x	0.91 x	0.82 x	0.82 x
EV / Revenue	0.96 x	1.31 x	1.32 x	1.03 x	1.33 x	1.27 x	1.11 x	1.08 x
EV / EBITDA	6.24 x	11.9 x	4.72 x	3.97 x	6.95 x	6.93 x	5.42 x	5.27 x
EV / FCF	25.4 x	63.2 x	7.64 x	5.72 x	12.3 x	15.6 x	10 x	9.13 x
FCF Yield	3.94%	1.58%	13.1%	17.5%	8.1%	6.43%	9.95%	11%
Price to Book	1.13 x	2.67 x	3.4 x	2.75 x	2.9 x	2.85 x	2.8 x	2.74 x
Nbr of stocks (in thousands)	159,671	157,862	159,377	136,961	122,550	119,421	-	-
Reference price ²	17.25	24.56	57.52	52.94	53.95	53.54	53.54	53.54
Announcement Date	04/02/20	28/01/21	27/01/22	26/01/23	25/01/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,110	5,758	8,911	9,376	6,833	7,022	7,757	7,785
EBITDA ¹	940.8	636	2,493	2,428	1,310	1,283	1,592	1,599
EBIT ¹	343.4	67.6	1,911	1,829	776.7	741.7	1,051	1,059
Operating Margin	5.62%	1.17%	21.44%	19.51%	11.37%	10.56%	13.55%	13.6%
Earnings before Tax (EBT) ¹	-36.9	-1,020	1,539	1,676	559.3	569.1	950.5	942.2
Net income ¹	-11.3	-969.9	1,297	1,327	460.2	435.2	740.4	815.1
Net margin	-0.18%	-16.84%	14.55%	14.15%	6.73%	6.2%	9.54%	10.47%
EPS ²	-0.0700	-6.140	7.960	8.940	3.570	3.625	6.539	7.548
Free Cash Flow ¹	231.7	119.5	1,540	1,685	738.3	571.9	858.4	923.3
FCF margin	3.79%	2.08%	17.29%	17.97%	10.8%	8.14%	11.07%	11.86%
FCF Conversion (EBITDA)	24.63%	18.79%	61.78%	69.4%	56.35%	44.58%	53.92%	57.73%
FCF Conversion (Net income)	-	-	118.79%	126.99%	160.43%	131.41%	115.93%	113.27%
Dividend per Share ²	0.8000	0.8000	0.8000	0.8000	0.8000	0.8103	0.8000	0.8569
Announcement Date	04/02/20	28/01/21	27/01/22	26/01/23	25/01/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	2,430	2,461	2,616	2,322	1,977	1,844	1,703	1,671	1,615	1,635	1,714	1,845	1,817	1,837	1,958
EBITDA ¹	686.7	710.9	727.3	547.8	441.8	434.1	351.1	314.8	210.1	242.1	293.6	370.3	366.2	366.3	425.6
EBIT ¹	536.6	559.2	578.5	398	293.3	297.3	214.3	183.8	81.6	112.4	162.7	240.7	235.9	237.2	286.2
Operating Margin	22.08%	22.72%	22.11%	17.14%	14.84%	16.12%	12.59%	11%	5.05%	6.87%	9.49%	13.05%	12.98%	12.91%	14.62%
Earnings before Tax (EBT) ¹	391	523.6	540.7	367.9	243.8	194.8	177.9	126.7	59.9	60.3	120.4	205.5	203	226.5	288.6
Net income ¹	306.6	393	422.1	315.2	196.6	156.3	146.9	104.1	52.9	48.6	85.89	150.3	156.4	163.6	208.5
Net margin	12.62%	15.97%	16.13%	13.58%	9.94%	8.47%	8.63%	6.23%	3.28%	2.97%	5.01%	8.15%	8.61%	8.91%	10.65%
EPS ²	1.890	2.480	2.760	2.180	1.430	1.160	1.130	0.8200	0.4300	0.4000	0.7732	1.227	1.305	1.400	-
Dividend per Share ²	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2029	0.2024	0.2016	0.2000	0.2000
Announcement Date	27/01/22	28/04/22	28/07/22	26/10/22	26/01/23	27/04/23	27/07/23	26/10/23	25/01/24	25/04/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,120	3,674	2,599	2,387	2,500	2,502	2,232	2,032
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.316 x	5.777 x	1.042 x	0.9831 x	1.908 x	1.95 x	1.402 x	1.27 x
Free Cash Flow ¹	232	120	1,540	1,685	738	572	858	923
ROE (net income / shareholders' equity)	1.18%	-11%	63.2%	51.1%	19.3%	19.8%	28.3%	30.5%
ROA (Net income/ Total Assets)	0.34%	-2.45%	15.4%	15.2%	5.84%	8.63%	8.8%	10.7%
Assets ¹	-3,315	39,643	8,394	8,715	7,879	5,045	8,414	7,618
Book Value Per Share ²	15.30	9.190	16.90	19.20	18.60	18.80	19.10	19.50
Cash Flow per Share ²	-	-	10.70	12.90	7.560	6.980	8.640	12.80
Capex ¹	386	299	201	237	236	230	230	235
Capex / Sales	6.31%	5.19%	2.25%	2.53%	3.45%	3.28%	2.96%	3.02%
Announcement Date	04/02/20	28/01/21	27/01/22	26/01/23	25/01/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Olin Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

53.54 USD

Average target price

60.77 USD

Spread / Average Target

+13.50%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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