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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. In the quarter to June 2026, revenue grew 7.40%, EPS fell 81.3%, free cash flow fell 83.5% and total debt fell 1.22%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

5.34 0.26 −4.64%
Market cap
$316.5M
P/E
0.0×
Fwd P/E
−19.8×
Dividend yield
1.55%
F-score
3/9
Altman Z
1.40
Beneish M
−3.20
Dividend safety
37/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 3.73%

Capital & Financial Ratios $m

Market Cap 316.53
Revenue 1,823.00
Net Income (96.30)
Free Cash Flow 25.50
Net Debt 958.90
Current Ratio 1.03
Debt/Equity 2.66 (above 2: weak)
P/E ratio 0.00
Fwd P/E (19.80) (negative: loss-making)
P/S ratio 0.16
P/B ratio 0.79
Past 5Y EPS Growth —
This Y EPS Growth (77.60%) (below 0%: weak)
Next Y EPS Growth 195.95% (at or above 15%: strong)
Next Y revenue growth 0.07%
Next 5Y EPS Growth 7.73%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, against a ten-year median of 1.1×; over the ten years it ranged from 0.7× in 2025 to 1.9× in 2018.
P/S against its own 10 years 2.29%
10-year low 10-year high
P/B against its own 10 years 2.43%
10-year low 10-year high
EV/Sales against its own 10 years 2.84%
10-year low 10-year high
EV/FCF against its own 10 years 71.80%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate 0.08
Annual Dividend Yield 1.55%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.08
0.02
0.02
0.02
2025 0.08
0.02
0.02
0.02
0.02
2024 0.08
0.02
0.02
0.02
0.02
2023 0.08
0.02
0.02
0.02
0.02
2022 0.10
0.02
0.02
0.02
0.02
0.02
2021 Powerpack
2020 0.20
0.20
2019 0.80
0.20
0.20
0.20
0.20
2018 0.80
0.20
0.20
0.20
0.20
2017 0.94
0.18
0.19
0.17
0.20
0.20
2016 0.74
0.19
0.19
0.19
0.18
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 38 44 61 51
Receivables 247 225 239 331
Inventory 287 290 277 276
Other 74 54 67 77
646 613 644 734
2023 2024 2025 Q'26
Payables 184 156 197 218
ST’ Debt 137 259 305 357
Other 44 57 54 58
440 517 626 716

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%)

Revenue $m

Mar Jun Sep Dec Year
’26 460 501 — — —
’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 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 (0.18) 0.03 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

3.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 10.33 17.15 23.12 12.10 5.93 15.23 12.87 17.43 14.94 4.35

Analyst estimates 2026–2028

Powerpack
High 20.85 25.70 36.55 28.51 19.71 22.45 20.63 28.48 27.73 16.63
People
People Employees 1,460 1,441 1,437 1,493 1,400 1,475 1,600 1,650 1,658 1,639
Revenue/emp, $m 0.78 0.92 1.10 0.99 0.81 1.05 1.27 1.15 1.13 1.10
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
Gross margin, % 32.84 28.43 27.24 26.40 25.72 24.99 22.10 23.81 22.84 19.91
EBT 75 84 168 120 26 186 157 163 53 (35)
EBT margin, % 6.59 6.33 10.62 8.10 2.27 12.01 7.74 8.62 2.84 (1.93)
Net income 49 65 121 87 18 135 106 104 44 (70)
Depreciation 98 103 100 99 99 108 108 116 127 134
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
Earnings 0.84 1.28 2.04 1.45 0.30 2.22 1.74 1.75 0.76 (1.24)
Cash flow 3.71 2.49 2.05 3.86 2.07 2.39 1.33 5.86 2.15 3.83
Capex (1.20) (1.52) (0.86) (2.60) (2.40) (3.54) (3.82) (2.93) (3.55) (2.86)
Free cash flow 2.51 0.97 1.18 1.26 (0.32) (1.14) (2.49) 2.93 (1.40) 0.97
Book value 0.99 1.61 2.67 3.10 3.00 5.27 7.54 8.11 8.16 6.83
Shares, m 59 59 60 60 60 61 61 59 58 56
Valuation, ×
Valuation, × P/E 23.52 23.46 12.95 13.31 57.13 8.23 10.02 15.41 20.78 0.00
P/S 0.99 1.16 0.95 0.78 0.91 0.72 0.52 0.84 0.49 0.16
P/B 19.32 16.12 9.48 6.22 5.72 3.49 2.31 3.31 1.94 0.77
EV/Sales 1.51 1.62 1.34 1.18 1.50 1.18 0.94 1.25 0.95 0.67
EV/FCF 11.54 37.37 30.09 32.90 (87.21) (26.36) (12.63) 13.62 (21.88) 22.19
Cash, $m
Cash, $m Operating cash flow 220 148 122 232 125 145 81 346 125 216
Capex (71) (90) (51) (156) (145) (215) (233) (173) (207) (161)
Free cash flow 149 57 71 76 (20) (69) (152) 173 (81) 55
Balance, $m
Balance, $m Working capital 216 237 255 223 176 216 226 206 97 17
Total debt 684 687 685 667 738 783 915 814 906 980
Net debt 596 611 615 592 674 717 855 777 862 919
Shareholders’ equity 59 95 159 186 181 320 459 479 475 385
Returns, %
Returns, % ROA 4.52 5.72 9.95 6.87 1.38 8.92 6.03 5.56 2.40 (3.72)
ROIC 11.07 12.20 15.85 11.83 5.44 13.77 9.38 10.22 4.80 1.32
ROE 86.87 84.33 95.44 50.40 9.92 53.80 27.26 22.07 9.27 (16.31)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
MATV Mativ Holdings, Inc. $644.1M 6.9× — (loss-making) +1.22% (above 0%: growing) n/m +19.37% (above 0%: growing) 21.31% 6.64% Compare
OEC Orion S.A. $316.5M — (loss-making) — (loss-making) +7.40% (above 0%: growing) −81.25% (below 0%: shrinking) −83.48% (below 0%: shrinking) 18.57% 4.25%
MNTK Montauk Renewables, Inc. $301.8M 34.7× 14.4× +19.71% (above 0%: growing) n/m +60.35% (above 0%: growing) 100.00% (0.14%) Compare
GEVO Gevo, Inc. $289.3M — (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. $283.9M 5.0× 12.8× +12.48% (above 0%: growing) n/m +1,443.92% (above 0%: growing) 6.77% 3.51% Compare
FF FutureFuel Corp. $247.8M — (loss-making) — (loss-making) +120.69% (above 0%: growing) n/m +4,245.38% (above 0%: growing) 19.08% 14.29% Compare
HDSN Hudson Technologies, Inc. $212.1M 24.1× 14.1× +7.54% (above 0%: growing) −47.83% (below 0%: shrinking) +5.45% (above 0%: growing) 26.41% 9.44% Compare
CMT Core Molding Technologies Inc $206.6M 26.6× 21.6× −20.84% (below 0%: shrinking) −55.32% (below 0%: shrinking) +809.20% (above 0%: growing) 20.29% 3.66% Compare
FEAM 5E Advanced Materials, Inc. $156.8M — (loss-making) — — n/m +17.79% (above 0%: growing) 0.00% 0.00% Compare
Median of peers $265.9M 24.1× 14.3× +7.54% — +39.86% 20.80% 3.59%

All 60 Specialty Chemicals stocks →

Orion S.A. (OEC) key facts

  • Concern: Orion S.A.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, down 3.77% from fiscal 2024.
  • Orion S.A. (OEC) is a Specialty Chemicals company in the Basic Materials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, OEC traded at $5.34, a market capitalization of $316.5 million.
  • Orion S.A. pays an annual dividend of $0.08 per share, a yield of 1.55%.
  • Return on equity was −16.3% and debt-to-equity 2.66.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 1.40 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Orion S.A. (OEC) Latest News

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stockrow.com/OEC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com