EASTMAN CHEMICAL CO

10-K & 10-Q Filings

Eastman Chemical Company is a global specialty materials company that produces a broad range of products used in various industries. The company was incorporated in Delaware in 1993 and has 36 manufacturing facilities and equity interests in two manufacturing joint ventures in 12 countries. Eastman's business strategy is to be a global specialty materials company that enhances the quality of life in a material way with consistent, sustainable earnings growth and strong cash flow. The company's innovation-driven growth model includes leveraging world class scalable technology platforms, delivering differentiated application development, and relentlessly engaging the market. Eastman's products and operations are managed and reported in four operating segments: Advanced Materials, Additives & Functional Products, Chemical Intermediates, and Fibers. The company's principal products include advanced interlayers, specialty resins, performance films, and additives & functional products. Eastman's website is www.eastman.com, and its ticker symbol is EMN. The Advanced Materials segment produces and markets polymers, films, and plastics with differentiated performance properties for value-added end-uses in transportation, durables and electronics, building and construction, medical and pharma, and consumables end-markets. The Additives & Functional Products segment manufactures materials for products in the food, feed, and agriculture; transportation; water treatment and energy; personal care and wellness; building and construction; consumables; and durables and electronics end-markets. Eastman's business segments are focused on developing new and multi-generational products and applications to help facilitate growth and leverage manufacturing capacity. The company is well positioned for future growth, particularly in leading automotive markets such as North America and Asia, and is positioned to benefit from sustainability innovations by leveraging molecular recycling technology to enable various waste plastics to be recycled into specialty plastics products.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$7254.00
7959.00
9170.00
9340.00
9385.00
9008.00
9549.00
10151.00
9273.00
8473.00
10476.00
10580.00
9210.00
2412.00
2310.00
2.01%-4.23%Cost of Revenue (-)
$5538.00
6340.00
6574.00
7306.00
7068.00
6658.00
7095.00
7672.00
7039.00
6498.00
7976.00
8443.00
7149.00
1883.00
1778.00
2.15%-5.58%Gross Profit (+)
$1640.00
1762.00
2776.00
2221.00
2580.00
2350.00
2454.00
2479.00
2234.00
1975.00
2500.00
2137.00
2061.00
529.00
532.00
1.92%0.57%Selling, General & Administrative (-)
$469.00
644.00
645.00
755.00
762.00
703.00
699.00
721.00
691.00
654.00
795.00
726.00
727.00
191.00
191.00
3.72%0.00%Research & Development (-)
$158.00
198.00
193.00
227.00
251.00
219.00
215.00
235.00
234.00
226.00
254.00
264.00
239.00
62.00
59.00
3.51%-4.84%Non-recurring Operating Expenses (-)
$-8.00
120.00
76.00
77.00
183.00
45.00
8.00
45.00
126.00
227.00
47.00
52.00
37.00
22.00
11.00
-50.00%Operating Expenses (-)
$619.00
962.00
914.00
1059.00
1196.00
967.00
922.00
1001.00
1051.00
1107.00
1648.00
1085.00
680.00
275.00
261.00
0.79%-5.09%Costs & Expenses (Total) (-)
$6157.00
7302.00
7488.00
8365.00
8264.00
7625.00
8017.00
8673.00
8090.00
7605.00
9624.00
9528.00
7829.00
2158.00
2039.00
2.02%-5.51%Operating Income/Loss (+)
$1021.00
800.00
1862.00
1162.00
1384.00
1383.00
1532.00
1478.00
1183.00
868.00
852.00
1052.00
1381.00
254.00
271.00
2.55%6.69%Non-operating Income/Expense (+)
$-19.00
-8.00
-3.00
15.00
8.00
-79.00
-2.00
46.00
-3.00
-9.00
16.00
6.00
-38.00
-11.00
-13.00
-18.18%Earnings before Tax (+)
$964.00
649.00
1679.00
990.00
1129.00
1049.00
1289.00
1310.00
902.00
530.00
1082.00
977.00
1087.00
194.00
214.00
1.01%10.31%Tax Expense (-)
$307.00
206.00
507.00
235.00
275.00
190.00
-99.00
226.00
140.00
41.00
215.00
181.00
191.00
60.00
49.00
-3.88%-18.33%Income/Loss (Continuing Operations) (+)
$657.00
443.00
1172.00
755.00
854.00
859.00
1388.00
1084.00
762.00
489.00
867.00
796.00
896.00
134.00
165.00
2.62%23.13%Income/Loss (Discontinued Operations) (+)
$39.00
1.00
2.00
Profit/Loss (+)
$
444.00
1172.00
757.00
854.00
859.00
1388.00
1084.00
762.00
489.00
867.00
796.00
896.00
134.00
165.00
23.13%Net Income/Loss (NCI) (-)
$
7.00
7.00
6.00
6.00
5.00
4.00
4.00
3.00
11.00
10.00
3.00
2.00
Net Income/Loss (+)
$696.00
437.00
1165.00
751.00
848.00
854.00
1384.00
1080.00
759.00
478.00
857.00
793.00
894.00
134.00
165.00
2.11%23.13%Net Income/Loss (Common) (+)
$696.00
437.00
1165.00
751.00
848.00
854.00
1384.00
1080.00
759.00
478.00
857.00
793.00
894.00
134.00
165.00
2.11%23.13%EPS (Basic)
$4.98
3.00
7.57
5.03
5.71
5.80
9.56
7.65
5.52
3.53
6.35
6.42
7.54
1.13
1.40
3.52%23.89%EPS (Diluted)
$4.86
2.93
7.44
4.97
5.66
5.75
9.47
7.56
5.48
3.50
6.25
6.35
7.49
1.12
1.39
3.67%24.11%Weighted Avg Shares (Basic)
137.00
153.96
152.47
148.65
147.81
146.49
142.97
139.78
135.99
135.86
128.97
118.80
117.34
119.15
117.65
-1.28%-1.26%Cash
$577.00
249.00
237.00
214.00
293.00
181.00
191.00
226.00
204.00
564.00
459.00
493.00
548.00
599.00
499.00
-0.43%-16.69%Short-term Investments
$200.00
Receivables
$704.00
997.00
1088.00
1200.00
1038.00
1211.00
1386.00
1483.00
1375.00
1515.00
1580.00
1277.00
1154.00
1337.00
1274.00
4.20%-4.71%Inventory
$779.00
1260.00
1264.00
1509.00
1479.00
1404.00
1509.00
1583.00
1662.00
1379.00
1504.00
1894.00
1683.00
1944.00
1769.00
6.63%-9.00%Other Assets (Current)
$42.00
88.00
251.00
250.00
68.00
70.00
57.00
73.00
80.00
83.00
1103.00
114.00
96.00
93.00
96.00
7.13%3.23%Assets (Current)
$2302.00
2594.00
2840.00
3173.00
2878.00
2866.00
3143.00
3365.00
3321.00
3541.00
4646.00
3778.00
3481.00
3973.00
3638.00
3.51%-8.43%Property, Plant & Equipment (Net)
$3107.00
4181.00
4290.00
5087.00
5130.00
5276.00
5607.00
5600.00
5571.00
5549.00
4996.00
5160.00
5548.00
5258.00
5535.00
4.95%5.27%Accumulated Depreciation
$5276.00
5500.00
5668.00
5939.00
6104.00
6423.00
6763.00
7131.00
7333.00
7982.00
7684.00
7782.00
8026.00
7895.00
8116.00
3.56%2.80%Goodwill & Intangibles
$406.00
4493.00
4398.00
7391.00
7168.00
6930.00
6900.00
6652.00
6442.00
6257.00
5003.00
4874.00
4784.00
4906.00
4754.00
22.82%-3.10%Other Assets
$369.00
351.00
317.00
421.00
435.00
385.00
349.00
378.00
674.00
736.00
874.00
855.00
820.00
846.00
821.00
6.88%-2.96%Assets (Non-current)
$3882.00
9025.00
9005.00
12899.00
12733.00
12591.00
12856.00
12630.00
12687.00
12542.00
10873.00
10889.00
11152.00
11010.00
11110.00
9.19%0.91%Assets (Total)
$6184.00
11619.00
11845.00
16072.00
15611.00
15457.00
15999.00
15995.00
16008.00
16083.00
15519.00
14667.00
14633.00
14983.00
14748.00
7.44%-1.57%Accounts Payable
$961.00
1360.00
1470.00
1721.00
1625.00
1512.00
1589.00
1608.00
1618.00
1689.00
2133.00
2125.00
2035.00
1957.00
1878.00
6.45%-4.04%Debt (Current)
$153.00
4.00
301.00
431.00
283.00
393.00
243.00
171.00
349.00
747.00
1126.00
541.00
1014.00
740.00
11.10%-27.02%Other Liabilities (Current)
$
91.00
Liabilities (Current)
$1114.00
1364.00
1470.00
2022.00
2056.00
1795.00
1982.00
1851.00
1789.00
2038.00
2971.00
3251.00
2576.00
2971.00
2618.00
7.24%-11.88%Debt (Non-current)
$1445.00
4779.00
4254.00
7248.00
6608.00
6311.00
6147.00
5925.00
5611.00
5269.00
4412.00
4025.00
4305.00
4636.00
4340.00
9.52%-6.38%Other Liabilities
$1755.00
2448.00
2246.00
3212.00
2926.00
2743.00
2390.00
2341.00
2576.00
2668.00
2348.00
2155.00
2222.00
2114.00
2182.00
1.99%3.22%Liabilities (Non-current)
$3200.00
7227.00
6500.00
10460.00
9534.00
9054.00
8537.00
8266.00
8187.00
7937.00
6760.00
6180.00
6527.00
6750.00
6522.00
6.12%-3.38%Liabilities (Total)
$4314.00
8591.00
7970.00
12482.00
11590.00
10849.00
10519.00
10117.00
9976.00
9975.00
9731.00
9431.00
9103.00
9721.00
9140.00
6.42%-5.98%Treasury Stock
$1930.00
1929.00
2167.00
2577.00
2680.00
2825.00
3175.00
3575.00
3900.00
3960.00
4860.00
5932.00
6083.00
5932.00
6083.00
10.04%2.55%Retained Earnings
$3436.00
3038.00
4012.00
4545.00
5146.00
5721.00
6802.00
7573.00
7965.00
8080.00
8557.00
8973.00
9490.00
9013.00
9559.00
8.83%6.06%AOCI
$-538.00
123.00
171.00
-277.00
-390.00
-281.00
-209.00
-245.00
-214.00
-273.00
-182.00
-205.00
-319.00
-220.00
-328.00
-49.09%Shareholder's Equity
$1870.00
3028.00
3875.00
3590.00
4021.00
4608.00
5480.00
5878.00
6032.00
6108.00
5788.00
5236.00
5530.00
5262.00
5608.00
9.46%6.58%Liabilities & Equity
$6184.00
11619.00
11845.00
16072.00
15611.00
15457.00
15999.00
15995.00
16008.00
16083.00
15519.00
14667.00
14633.00
14983.00
14748.00
7.44%-1.57%Net Income/Loss
$696.00
444.00
1172.00
757.00
854.00
859.00
1388.00
1084.00
762.00
489.00
867.00
796.00
896.00
134.00
165.00
2.13%23.13%Depreciation & Amortization
$273.00
360.00
433.00
450.00
571.00
580.00
587.00
604.00
611.00
574.00
538.00
477.00
498.00
141.00
127.00
5.14%-9.93%Increase/Decrease in Working Capital
$-173.00
-54.00
113.00
210.00
202.00
280.00
45.00
215.00
18.00
-111.00
139.00
529.00
-213.00
302.00
253.00
-16.23%Adjustments to Reconcile Net Income
$-71.00
684.00
125.00
651.00
758.00
526.00
269.00
459.00
742.00
966.00
752.00
179.00
478.00
-136.00
-181.00
-33.09%Net Cash (Operating)
$625.00
1128.00
1297.00
1408.00
1612.00
1385.00
1657.00
1543.00
1504.00
1455.00
1619.00
975.00
1374.00
-2.00
-16.00
6.78%-700.00%Capital Expenditure
$-466.00
3139.00
488.00
4105.00
697.00
652.00
653.00
531.00
473.00
384.00
692.00
625.00
910.00
233.00
186.00
-20.17%Net Cash (Investing)
$-142.00
-2962.00
-457.00
-4091.00
-693.00
-655.00
-643.00
-463.00
-480.00
-394.00
-29.00
392.00
-432.00
-252.00
-179.00
28.97%Increase/Decrease in Debt
$3.00
1644.00
-530.00
3250.00
-505.00
-428.00
-369.00
-316.00
-370.00
-307.00
-350.00
76.00
-338.00
470.00
244.00
-48.09%Increase/Decrease in Equity
$346.00
56.00
-179.00
-367.00
-83.00
-130.00
-334.00
-400.00
-325.00
-60.00
-1000.00
-1002.00
-150.00
Dividends Paid
$-136.00
196.00
150.00
219.00
244.00
280.00
303.00
322.00
343.00
358.00
375.00
381.00
376.00
94.00
95.00
1.06%Net Cash (Financing)
$-423.00
1504.00
-859.00
2664.00
-832.00
-838.00
-1006.00
-1040.00
-1043.00
-704.00
-1690.00
-1321.00
-888.00
357.00
148.00
-58.54%Effect of Exchange Rate
$1.00
2.00
7.00
-4.00
-8.00
-4.00
2.00
-5.00
-3.00
3.00
-5.00
-12.00
1.00
3.00
-2.00
0.00%-166.67%Increase/Decrease in Cash
$61.00
-328.00
-12.00
-23.00
79.00
-112.00
10.00
35.00
-22.00
360.00
-105.00
34.00
55.00
106.00
-49.00
-0.86%-146.23%Cash (Beginning)
$516.00
577.00
249.00
237.00
214.00
293.00
181.00
191.00
226.00
204.00
564.00
459.00
493.00
493.00
548.00
-0.38%11.16%Cash (Ending)
$577.00
249.00
237.00
214.00
293.00
181.00
191.00
226.00
204.00
564.00
459.00
493.00
548.00
599.00
499.00
-0.43%-16.69%NOPAT
$695.85
546.07
1299.74
886.17
1046.89
1132.50
1649.66
1223.02
999.39
800.85
682.70
857.11
1138.34
175.44
208.95
4.19%19.10%Gross Margin %
22.61%
22.14%
30.27%
23.78%
27.49%
26.09%
25.70%
24.42%
24.09%
23.31%
23.86%
20.20%
22.38%
21.93%
23.03%
Operating Margin %
14.07%
10.05%
20.31%
12.44%
14.75%
15.35%
16.04%
14.56%
12.76%
10.24%
8.13%
9.94%
14.99%
10.53%
11.73%
NOPAT Margin %
9.59%
6.86%
14.17%
9.49%
11.15%
12.57%
17.28%
12.05%
10.78%
9.45%
6.52%
8.10%
12.36%
7.27%
9.05%
Net Margin %
9.59%
5.49%
12.70%
8.04%
9.04%
9.48%
14.49%
10.64%
8.19%
5.64%
8.18%
7.50%
9.71%
5.56%
7.14%
Tax Rate %
31.85%
31.74%
30.20%
23.74%
24.36%
18.11%
-7.68%
17.25%
15.52%
7.74%
19.87%
18.53%
17.57%
30.93%
22.90%
ROA
11.25%
4.70%
10.97%
5.51%
6.71%
7.33%
10.31%
7.65%
6.24%
4.98%
4.40%
5.84%
7.78%
1.17%
1.42%
ROE
37.21%
18.03%
33.54%
24.68%
26.04%
24.58%
30.10%
20.81%
16.57%
13.11%
11.80%
16.37%
20.58%
3.33%
3.73%
ROIC
15.09%
5.56%
13.25%
6.48%
7.76%
8.40%
11.78%
8.78%
7.33%
5.90%
6.01%
7.41%
9.74%
1.50%
1.79%
Asset Turnover
1.17
0.68
0.77
0.58
0.60
0.58
0.60
0.63
0.58
0.53
0.68
0.72
0.63
0.16
0.16
Inventory Turnover
7.11
5.03
5.20
4.84
4.78
4.74
4.70
4.85
4.24
4.71
5.30
4.46
4.25
0.97
1.01
Equity Multiplier
3.31
3.84
3.06
4.48
3.88
3.35
2.92
2.72
2.65
2.63
2.68
2.80
2.65
2.85
2.63
Current Ratio
2.07
1.90
1.93
1.57
1.40
1.60
1.59
1.82
1.86
1.74
1.56
1.16
1.35
1.34
1.39
Quick Ratio
1.33
0.91
0.90
0.70
0.65
0.78
0.80
0.92
0.88
1.02
0.69
0.54
0.66
0.65
0.68
Debt/Equity Ratio
0.85
1.58
1.10
2.10
1.75
1.43
1.19
1.05
0.96
0.92
0.89
0.98
0.88
1.07
0.91
Working Capital/Sales
0.15
0.14
0.12
0.13
0.13
0.14
0.16
0.17
0.18
0.21
0.13
0.15
0.15
0.65
0.60
R&D/Sales
0.02
0.02
0.02
0.02
0.03
0.02
0.02
0.02
0.03
0.03
0.02
0.02
0.03
0.03
0.03
Dividend Payout Ratio %
-19.54%
35.89%
11.54%
24.71%
23.31%
24.72%
18.37%
26.33%
34.32%
44.70%
54.93%
44.45%
33.03%
53.58%
45.47%
Total Payout
$-485.00
-1504.00
859.00
-2664.00
832.00
838.00
1006.00
1038.00
1038.00
725.00
1725.00
1307.00
864.00
-376.00
-149.00
60.37%Payout Ratio %
-69.70%
-275.42%
66.09%
-300.62%
79.47%
74.00%
60.98%
84.87%
103.86%
90.53%
252.67%
152.49%
75.90%
-214.31%
-71.31%