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Orion S.A.

OEC Basic Materials Specialty Chemicals

Orion S.A.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, down 3.77% from fiscal 2024.

Revenue
+4.86%
EPS
+95.8%
Free cash flow
+64.9%
Total debt
−2.23%

Quarter to September 2026, against a year earlier

4.21 0.04 +0.96%
Market cap
$235.7M
P/E
0.0×
Fwd P/E
−19.8×
Dividend yield
1.97%
F-score
3/9
Altman Z
1.40
Beneish M
−3.20
Dividend safety
37/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 3.90%

Capital & Financial Ratios $m

Size
Market Cap 235.70
Revenue ttm 1,844.90
Net income ttm (32.30)
Free cash flow ttm 43.60
Net debt Q 916.40
Valuation
P/E 0.00
Forward P/E (19.80) (negative: loss-making)
Price / sales 0.13
Forward P/S Powerpack
Price / FCF 5.44
Price / book 0.60
Financial health
Current ratio Q 1.06
Debt / equity Q 2.48 (above 2: weak)
Interest coverage Q 1.28
Growth
Revenue growth Q +4.86% (above 0%: growing)
Operating income growth Q +142.46% (above 0%: growing)
EPS, this year −107.10% (below 0%: weak)
EPS, next year A +1,068.47% (at or above 15%: strong)
Revenue, next year A +0.07%
EPS, past 5 yrs —
EPS, next 5 yrs A +9.15%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 1.1×; over the ten years it ranged from 0.6× in 2026 to 1.9× in 2018.
P/S against its own 10 years 0.04%
10-year low 10-year high
P/B against its own 10 years 0.04%
10-year low 10-year high
EV/Sales against its own 10 years 0.04%
10-year low 10-year high
EV/FCF against its own 10 years 46.31%
10-year low 10-year high

Dividends

Yield
1.97%
Annual rate
0.08
Payout ratio
—
Growth, 2018–26
−24.7%/yr
  1. 0.80 ’18
  2. 0.80 ’19 +0
  3. 0.20 ’20 −75
  4. 0.00 ’21 −100
  5. 0.10 ’22
  6. 0.08 ’23 −19
  7. 0.08 ’24 +0
  8. 0.08 ’25 +0
  9. 0.08 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 38 44 61 71
Receivables 247 225 239 299
Inventory 287 290 277 281
Other 74 54 67 72
646 613 644 722
2023 2024 2025 Q'26
Payables 184 156 197 216
ST’ Debt 137 259 305 336
Other 44 57 54 56
440 517 626 679

Compound Annual Growth %

10y 5y 3y
Sales 3.88% 9.72% (3.82%)
Cash Flow (0.98%) 11.49% 38.63%
Earnings 0.00% 0.00% 0.00%
Book Value 21.43% 16.27% (5.75%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.05 Actual 0.03

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.08 −0.34 Miss by 0.26
Q1 FY26 0.19 −0.11 Miss by 0.30
Q2 FY26 0.11 0.14 Beat by 0.03
Q3 FY26 0.05 0.03 Miss by 0.02
Q4 FY26 −0.07 — Reports 16 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.18) 0.03 (0.05) — —
’25 0.16 0.16 (1.20) (0.38) (1.24)
’24 0.45 0.35 (0.35) 0.30 0.76
’23 0.70 0.51 0.44 0.08 1.73
’22 0.53 0.49 0.52 0.20 1.73
’21 0.39 1.47 0.35 0.01 2.21
’20 0.29 (0.29) 0.15 0.14 0.30
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 460 501 473 — —
’25 478 466 451 412 1,807
’24 503 477 463 434 1,878
’23 501 459 466 468 1,894
’22 485 541 543 462 2,031
’21 360 401 393 393 1,547
’20 336 203 282 316 1,136
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (12) 27 58 — —
’25 0 54 69 93 216
’24 32 29 (31) 95 125
’23 108 98 68 72 346
’22 (28) (23) 34 98 81
’21 2 83 36 24 145
’20 5 86 2 33 125
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (48) 2 46 — —
’25 (29) 12 28 44 55
’24 (1) (25) (79) 24 (81)
’23 78 60 26 10 173
’22 (77) (83) (24) 32 (152)
’21 (25) 52 (19) (77) (69)
’20 (46) 47 (29) 8 (20)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,140 1,328 1,578 1,476 1,136 1,547 2,031 1,894 1,878 1,807 1,845 +5.3% 1,808 1,802 1,878 +1.3%
Gross margin, % 32.84 28.43 27.24 26.40 25.72 24.99 22.10 23.81 22.84 19.91 18.47 (12.9) pt
EBT 75 84 168 120 26 186 157 163 53 (35) 10 n/m
EBT margin, % 6.59 6.33 10.62 8.10 2.27 12.01 7.74 8.62 2.84 (1.93) 0.51 (8.5) pt
Net income 49 65 121 87 18 135 106 104 44 (70) (32) n/m
Per share, $
Per share, $ Revenue 19.21 22.39 26.49 24.61 18.81 25.48 33.35 32.10 32.25 32.08 32.72 +5.9%
Earnings 0.84 1.09 2.04 1.45 0.30 2.22 1.74 1.75 0.76 (1.24) (0.58) n/m
Cash flow 3.71 2.49 2.05 3.86 2.07 2.39 1.33 5.86 2.15 3.83 2.94 +0.3%
Capex (1.20) (1.52) (0.86) (2.60) (2.40) (3.54) (3.82) (2.93) (3.55) (2.86) (2.16) +10.1%
Free cash flow 2.51 0.97 1.18 1.26 (0.32) (1.14) (2.49) 2.93 (1.40) 0.97 0.77 (10.0%)
Book value 0.99 1.61 2.67 3.10 3.00 5.27 7.54 8.11 8.16 6.83 7.06 +24.0%
Shares, m 59 59 60 60 60 61 61 59 58 56 56 (0.6%)
Valuation, ×
Valuation, × P/E 23.52 23.46 12.95 13.31 57.13 8.23 10.02 15.41 20.78 0.00 0.00 18.5
P/S 0.99 1.16 0.95 0.78 0.91 0.72 0.52 0.84 0.49 0.16 0.13 0.8
P/B 19.32 16.12 9.48 6.22 5.72 3.49 2.31 3.31 1.94 0.77 0.60 6.9
EV/Sales 1.51 1.62 1.34 1.18 1.50 1.18 0.94 1.25 0.95 0.67 0.63 1.2
EV/FCF 11.54 37.37 30.09 32.90 (87.21) (26.36) (12.63) 13.62 (21.88) 22.19 26.46 0.0
Cash, $m
Cash, $m Operating cash flow 220 148 122 232 125 145 81 346 125 216 166 (0.2%)
Capex (71) (90) (51) (156) (145) (215) (233) (173) (207) (161) (122) +9.5%
Free cash flow 149 57 71 76 (20) (69) (152) 173 (81) 55 44 (10.5%)
Balance, $m
Balance, $m Working capital 216 237 255 223 176 216 226 206 97 17 43 (24.4%)
Net debt 596 611 615 592 674 717 855 777 862 919 916 +4.9%
Shareholders’ equity 59 95 159 186 181 320 459 479 475 385 398 +23.3%
Returns, %
Returns, % ROA 4.52 5.72 9.95 6.87 1.38 8.92 6.03 5.56 2.40 (3.72) (1.65) (8.2) pt
ROIC 11.07 12.20 15.85 11.83 5.44 13.77 9.38 10.22 4.80 1.32 3.49 (9.7) pt
ROE 86.87 84.33 95.44 50.40 9.92 53.80 27.26 22.07 9.27 (16.31) (8.08) (103.2) pt
People
People Employees 1,460 1,441 1,437 1,493 1,400 1,475 1,600 1,650 1,658 1,639 — +1.3%
Revenue/emp, $m 0.78 0.92 1.10 0.99 0.81 1.05 1.27 1.15 1.13 1.10 — +3.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

Orion S.A. vs peers in Specialty Chemicals (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ASPN Aspen Aerogels, Inc. $428.2M — (loss-making) — (loss-making) +16.66% (above 0%: growing) n/m −93.09% (below 0%: shrinking) 24.15% (8.36%) Compare
MNTK Montauk Renewables, Inc. $343.0M 38.8× 16.6× +19.71% (above 0%: growing) n/m +60.35% (above 0%: growing) 100.00% (0.14%) Compare
GEVO Gevo, Inc. $301.6M — (loss-making) — (loss-making) +7.11% (above 0%: growing) n/m −167.47% (below 0%: shrinking) 42.58% (369.25%) Compare
ALTO Alto Ingredients, Inc. $284.7M 5.4× 9.7× +12.48% (above 0%: growing) n/m +1,443.92% (above 0%: growing) 6.77% 3.51% Compare
ASPI ASP Isotopes Inc. $263.7M — (loss-making) — (loss-making) +327.63% (above 0%: growing) n/m −182.92% (below 0%: shrinking) 28.89% (667.48%) Compare
FF FutureFuel Corp. $236.9M — (loss-making) — (loss-making) +120.69% (above 0%: growing) n/m +4,245.38% (above 0%: growing) 19.08% 14.29% Compare
OEC Orion S.A. $235.7M — (loss-making) — (loss-making) +4.86% (above 0%: growing) n/m +64.87% (above 0%: growing) 19.20% 4.82%
CMT Core Molding Technologies Inc $186.3M 25.6× 44.8× +54.42% (above 0%: growing) −18.18% (below 0%: shrinking) −3,170.52% (below 0%: shrinking) 14.83% 1.76% Compare
HDSN Hudson Technologies, Inc. $172.1M — (loss-making) 33.2× −19.71% (below 0%: shrinking) −82.14% (below 0%: shrinking) +43.42% (above 0%: growing) 24.91% 5.47% Compare
Median of peers $274.2M 25.6× 24.9× +18.19% — −24.83% 24.53% 0.81%

All 61 Specialty Chemicals stocks →

Pay and ownership Proxy statement filed 24 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 3.49m (221.08k) 31.52
2024 4.56m (5.74m) 93.39
2023 7.59m 17.18m 163.26
2022 4.69m 7.14m 104.56
2021 5.90m 4.78m 107.12

Ownership

Directors and executive officers, together 3.10%
Pzena Investment Management, LLC 8.10%
BlackRock, Inc. 7.10%
Divisar Capital Management LLC 5.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Orion S.A. (OEC) Latest News

5 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby

4 Nov

Impact 3 · · Business Wire

22 Oct

Impact 3 · · Business Wire

20 Oct

Impact 4 · · Zacks

13 Oct

Impact 3 · · Business Wire

2 Oct

Impact 3 · · MT Newswires

4 Sep

Impact 3 ·

8 Aug

Impact 3 · · MarketBeat transcript

6 Aug

Impact 4 · transcript
Impact 3 · · Moby transcript

5 Aug

Impact 3 ·

8 Jun

Impact 4 · · Zacks

4 Jun

Impact 4 · · Business Wire

1 Jun

Impact 4 · · The Motley Fool transcript

13 May

Impact 4 · · Zacks
Impact 3 · · MarketBeat

6 May

Impact 4 · · Business Wire
Impact 3 · · Zacks

27 Apr

Impact 4 · · Zacks
Impact 4 · · Zacks
Impact 3 · · Zacks

13 Mar

Impact 4 ·

19 Feb

Impact 3 · · Simply Wall St.

17 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · MarketBeat
Impact 4 · · Moby
Impact 4 ·
Impact 3 · · Zacks
stockrow.com/OEC · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com