Orion (OEC)
Market Price (2/19/2026): $6.495 | Market Cap: $364.0 MilSector: Materials | Industry: Specialty Chemicals
Orion (OEC)
Market Price (2/19/2026): $6.495Market Cap: $364.0 MilSector: MaterialsIndustry: Specialty Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% | Weak multi-year price returns2Y Excs Rtn is -110%, 3Y Excs Rtn is -137% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 263% |
| Attractive yieldFCF Yield is 9.4% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.3%, Rev Chg QQuarterly Revenue Change % is -2.7% | |
| Megatrend and thematic driversMegatrends include Water Infrastructure, Offshore Wind Development, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Show more. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% | |
| Key risksOEC key risks include [1] softening demand and declining profitability from challenges in key segments like the Western tire market and [2] tight liquidity exacerbated by a recent criminal scheme that resulted in ~$60 million in fraudulent transfers. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Attractive yieldFCF Yield is 9.4% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, Offshore Wind Development, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -110%, 3Y Excs Rtn is -137% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 263% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.3%, Rev Chg QQuarterly Revenue Change % is -2.7% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12% |
| Key risksOEC key risks include [1] softening demand and declining profitability from challenges in key segments like the Western tire market and [2] tight liquidity exacerbated by a recent criminal scheme that resulted in ~$60 million in fraudulent transfers. |
Qualitative Assessment
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Orion (OEC) stock has gained about 25% since 10/31/2025 because of the following key factors:
1. Orion S.A. reported stronger-than-expected revenue for the fourth quarter of 2025. The company posted Q4 2025 revenue of $411.7 million, significantly surpassing analysts' consensus estimates of approximately $369.45 million by over $42 million, or 12.18%.
2. The company demonstrated robust cash flow generation and better-than-anticipated Adjusted EBITDA despite challenging market conditions. Orion delivered $55 million in free cash flow for the full year 2025, driven partly by extracting $69 million from working capital. Additionally, Q4 Adjusted EBITDA of $55 million exceeded implied guidance, and full-year 2025 Adjusted EBITDA of $248 million was better than the company's most recent guidance, despite facing a "macroeconomic trough" with weak tire demand and soft industrial markets.
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1. Orion S.A. reported stronger-than-expected revenue for the fourth quarter of 2025. The company posted Q4 2025 revenue of $411.7 million, significantly surpassing analysts' consensus estimates of approximately $369.45 million by over $42 million, or 12.18%.
2. The company demonstrated robust cash flow generation and better-than-anticipated Adjusted EBITDA despite challenging market conditions. Orion delivered $55 million in free cash flow for the full year 2025, driven partly by extracting $69 million from working capital. Additionally, Q4 Adjusted EBITDA of $55 million exceeded implied guidance, and full-year 2025 Adjusted EBITDA of $248 million was better than the company's most recent guidance, despite facing a "macroeconomic trough" with weak tire demand and soft industrial markets.
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Stock Movement Drivers
Fundamental Drivers
The 23.1% change in OEC stock from 10/31/2025 to 2/18/2026 was primarily driven by a 23.7% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2182026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.28 | 6.50 | 23.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,842 | 1,829 | -0.7% |
| P/S Multiple | 0.2 | 0.2 | 23.7% |
| Shares Outstanding (Mil) | 56 | 56 | 0.2% |
| Cumulative Contribution | 23.1% |
Market Drivers
10/31/2025 to 2/18/2026| Return | Correlation | |
|---|---|---|
| OEC | 23.1% | |
| Market (SPY) | 0.6% | 41.4% |
| Sector (XLB) | 23.8% | 63.5% |
Fundamental Drivers
The -32.7% change in OEC stock from 7/31/2025 to 2/18/2026 was primarily driven by a -33.1% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2182026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.66 | 6.50 | -32.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,852 | 1,829 | -1.2% |
| P/S Multiple | 0.3 | 0.2 | -33.1% |
| Shares Outstanding (Mil) | 57 | 56 | 1.8% |
| Cumulative Contribution | -32.7% |
Market Drivers
7/31/2025 to 2/18/2026| Return | Correlation | |
|---|---|---|
| OEC | -32.7% | |
| Market (SPY) | 8.9% | 31.2% |
| Sector (XLB) | 21.4% | 53.2% |
Fundamental Drivers
The -53.0% change in OEC stock from 1/31/2025 to 2/18/2026 was primarily driven by a -52.7% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2182026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.82 | 6.50 | -53.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,912 | 1,829 | -4.3% |
| P/S Multiple | 0.4 | 0.2 | -52.7% |
| Shares Outstanding (Mil) | 58 | 56 | 3.8% |
| Cumulative Contribution | -53.0% |
Market Drivers
1/31/2025 to 2/18/2026| Return | Correlation | |
|---|---|---|
| OEC | -53.0% | |
| Market (SPY) | 15.0% | 38.2% |
| Sector (XLB) | 21.2% | 53.8% |
Fundamental Drivers
The -68.6% change in OEC stock from 1/31/2023 to 2/18/2026 was primarily driven by a -69.0% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 2182026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.68 | 6.50 | -68.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,962 | 1,829 | -6.7% |
| P/S Multiple | 0.6 | 0.2 | -69.0% |
| Shares Outstanding (Mil) | 61 | 56 | 8.7% |
| Cumulative Contribution | -68.6% |
Market Drivers
1/31/2023 to 2/18/2026| Return | Correlation | |
|---|---|---|
| OEC | -68.6% | |
| Market (SPY) | 75.1% | 39.5% |
| Sector (XLB) | 32.2% | 54.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| OEC Return | 7% | -2% | 56% | -43% | -66% | 9% | -66% |
| Peers Return | 14% | 6% | 55% | -13% | -21% | 21% | 59% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| OEC Win Rate | 58% | 42% | 58% | 50% | 25% | 50% | |
| Peers Win Rate | 54% | 38% | 58% | 42% | 33% | 100% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| OEC Max Drawdown | -11% | -27% | -2% | -46% | -72% | -0% | |
| Peers Max Drawdown | -5% | -19% | -2% | -27% | -31% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CBT, KOP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/18/2026 (YTD)
How Low Can It Go
| Event | OEC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -40.2% | -25.4% |
| % Gain to Breakeven | 67.3% | 34.1% |
| Time to Breakeven | 128 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -67.1% | -33.9% |
| % Gain to Breakeven | 203.9% | 51.3% |
| Time to Breakeven | 336 days | 148 days |
| 2018 Correction | ||
| % Loss | -65.7% | -19.8% |
| % Gain to Breakeven | 191.5% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
Compare to CBT, KOP
In The Past
Orion's stock fell -40.2% during the 2022 Inflation Shock from a high on 5/6/2021. A -40.2% loss requires a 67.3% gain to breakeven.
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About Orion (OEC)
Orion Engineered Carbons S.A., together with its subsidiaries, manufactures and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for polymers, coatings, and battery electrodes. It also provides rubber carbon black products for applications in mechanical rubber goods under the PUREX brand, as well as in tires under the ECORAX brand name. The company was formerly known as Orion Engineered Carbons S.Ã r.l. and changed its name to Orion Engineered Carbons S.A. in July 2014. Orion Engineered Carbons S.A. was founded in 1862 and is headquartered in Senningerberg, Luxembourg.
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Here are 1-3 brief analogies for Orion (OEC):
- The Corning of carbon black, supplying an essential ingredient for tires, plastics, and coatings.
- Like a highly specialized DuPont or 3M, focusing globally on the production of carbon black.
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- Marine Construction: Provides specialized marine construction services including dredging, marine infrastructure (ports, piers, docks, and bridges), and coastal stabilization projects.
- Concrete Construction: Offers comprehensive concrete construction services for industrial, commercial, and municipal projects, encompassing paving, structural concrete, and foundations.
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Orion Group Holdings, Inc. (symbol: OEC) is a specialty construction company that sells its services primarily to other companies and government entities, rather than directly to individuals. Therefore, its customers fall into business-to-business (B2B) and business-to-government (B2G) categories.
Based on their latest financial filings (10-K reports), Orion Group Holdings, Inc. does not have any single customer that accounts for 10% or more of its consolidated revenues. This indicates a diversified customer base, meaning there are no individually "major" customer companies to list by name and symbol.
Instead, Orion serves a broad range of clients across the infrastructure, marine, and building sectors. Its primary customer categories include:
- Government Agencies: This encompasses federal, state, and local government bodies, as well as port authorities and municipalities, which commission public infrastructure projects such as dredging, marine construction, and heavy civil construction.
- Private Developers: Companies engaged in developing commercial, industrial, or large-scale residential projects that require specialized concrete, civil, or marine construction services.
- Industrial Companies: Various corporations across different industries that require specialized construction, maintenance, and repair services for their industrial facilities and operations.
- Utility Companies: Entities responsible for providing public utilities (e.g., power, water, gas) that often require specialized marine or heavy civil construction services for their infrastructure projects.
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Corning Painter, Chief Executive Officer
Corning Painter was appointed CEO of Orion in September 2018. He began his career at Air Products in 1984, progressing through various commercial and operations positions in the U.S. and overseas. He held leadership roles in operations, supply chain, corporate strategy, and technology, eventually becoming Executive Vice President, Industrial Gases, before leaving Air Products in June 2018.
Jonathan Puckett, Chief Financial Officer
Jonathan Puckett will assume the role of Chief Financial Officer for Orion S.A. on December 1, 2025, succeeding Jeffrey Glajch. He brings over 30 years of financial leadership experience, predominantly within the chemical industry. Prior to joining Orion, Puckett spent 14 years at Celanese (NYSE: CE), where he most recently served as Vice President and CFO for the Acetyl Chain segment. His previous experience includes senior financial roles at Affiliated Computer Services, Inc., PWC LLP, and KPMG LLP.
Dr. Sandra Niewiem, Senior Vice President, Global Specialty Carbon Black & EMEA Region
Dr. Sandra Niewiem was appointed Senior Vice President Global Specialty Carbon Black and EMEA Region in September 2019. She joined Orion in December 2013, having previously served as Vice President Global Product Management and Business Development Specialty Carbon Black. Dr. Niewiem possesses over two decades of experience in process industries, engineering, and industrial goods, including more than thirteen years in management consulting.
Pedro Riveros, Senior Vice President, Global Rubber Carbon Black & Americas Region
Pedro Riveros joined Orion in June 2019. He has an extensive background from his long career at Air Products and Chemicals, where he held numerous business and general management roles across North and South America, managing significant profit and loss responsibilities. He is recognized for his experience in business management, strategy, applications development, and cross-functional collaboration.
Carlos Quinones, Senior Vice President, Global Operations
Carlos Quinones assumed the role of Senior Vice President, Global Operations, in June 2019. He has over 25 years of operations experience in various international chemical, petrochemical, and industrial gases companies, including Arco Chemical, Rohm and Haas/Dow Chemical, Praxair, and Air Products and Chemicals. His expertise includes deep chemical manufacturing experience, high-temperature reactions, waste heat optimization, and high-reliability systems.
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The key risks to Orion Engineered Carbons (OEC) are:
- Volatility in Raw Material and Energy Costs/Availability: As a chemical company, Orion is highly susceptible to fluctuations in the costs, quality, and availability of raw materials and energy. Such volatility can significantly decrease production volumes and margins, adversely impacting its business, financial condition, results of operations, and cash flows.
- Softening Demand and Macroeconomic Headwinds: The company has experienced a downturn in profitability and declining net sales due to macroeconomic challenges, particularly a soft Western tire production market and elevated imports. This has led to reduced earnings guidance and volume declines in key segments like Specialty Carbon Black in various regions.
- Financial Setbacks and Liquidity Concerns: Orion's liquidity position has been described as tight, and the company is actively focusing on cash generation and working capital management due to high capital needs and volatile demand. This risk was recently exacerbated by a criminal scheme resulting in approximately $60 million in fraudulent wire transfers, which is expected to result in a one-time pre-tax charge for unrecovered amounts.
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The accelerating development and adoption of sustainable and circular economy carbon black alternatives.
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Orion (symbol: OEC) operates in the carbon black market, with its main products and services categorized into two segments: Specialty Carbon Black and Rubber Carbon Black.
The addressable markets for Orion's main products and services are as follows:
- Global Carbon Black Market: This overarching market was valued between USD 17.9 billion and USD 27.59 billion in 2024. It is projected to grow to between USD 25.4 billion by 2033 and USD 40.10 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) ranging from 3.57% to 4.8% during the forecast periods. The Asia Pacific region consistently dominates this market, holding significant market share in 2024.
- Global Specialty Carbon Black Market: This market reached approximately USD 7.7 billion in 2024 and is projected to grow to approximately USD 12.6 billion by 2033, at a CAGR of 5.21% from 2025-2033. Other estimates place the 2024 market value between USD 3.0 billion and USD 3.14 billion, with projections reaching USD 4.89 billion by 2032 (CAGR of 5.7%) or USD 7.6 billion by 2034 (CAGR of 10.0%). The Asia Pacific region is the largest and dominating region for specialty carbon black. The U.S. specialty carbon black market was estimated at USD 490 million in 2024.
- Global Rubber Carbon Black Market: The market size was estimated at USD 20.73 billion in 2024. It is projected to grow from USD 21.47 billion in 2025 to USD 30.5 billion by 2035, exhibiting a CAGR of 3.57%. The rubber segment accounted for 88% of the global carbon black demand in 2024. The Asia-Pacific region holds approximately 25% of the global market share for rubber carbon black.
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Orion S.A. (NYSE: OEC) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:
- Expansion in Specialty Carbon Black with a focus on high-growth applications: The Specialty segment is anticipated to be a significant driver of Orion's medium-term growth trajectory through innovation. The company is particularly focused on innovation in conductive grades for lithium-ion batteries and energy storage systems, targeting a healthy double-digit compound annual growth rate in these areas. This segment has already shown strong performance, with volumes increasing by 17% in the second quarter compared to the previous year, reflecting a broad-based demand recovery across almost all geographic markets.
- Recovery and normalization of Rubber Carbon Black volumes: Despite recent softness in rubber demand due to elevated tire imports in key Western markets, management anticipates a normalization of demand and a potential recovery in late 2025 or early 2026. Orion's commercial strategy for its Rubber segment positions it well for 2025 and when trade flows rebalance within the global tire market.
- Innovation and development of sustainable products: Orion is positioned as an industry leader in developing commercially viable sustainable products. This focus on sustainable innovations, particularly in coatings and polymer recovery, is expected to fuel growth across all regions.
- Strategic initiatives and market expansion efforts: Analysts project a steady increase in Orion's revenue, driven by strategic initiatives and ongoing market expansion efforts, with forecasts reaching $2.07 billion by 2026.
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Share Repurchases
- Orion (OEC) resumed opportunistic stock buyback activity starting in the third quarter of 2024.
- The company repurchased approximately 2% of its shares outstanding in 2024, utilizing about $20 million for these repurchases.
- From August 2024, through the first quarter of 2025, Orion spent approximately $36 million on share repurchases, buying back roughly 4% of its outstanding shares.
Share Issuance
- Orion's number of shares outstanding decreased by 4.23% in the year leading up to November 4, 2025, due to repurchases, indicating no significant share issuances during this period.
Capital Expenditures
- Orion reported capital expenditures of $233 million in 2022, $173 million in 2023, and $207 million in 2024.
- Year-to-date as of Q3 2025, capital expenditures amounted to $112.3 million.
- The company anticipates reduced capital spending for 2025 and 2026, which is expected to lead to higher free cash flow conversion and is part of initiatives to boost earnings and cash flow.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Orion Earnings Notes | 12/16/2025 | |
| Orion Stock Jump Looks Great, But How Secure Is That Gain? | 10/17/2025 | |
| Orion (OEC) Net Income Comparison | 08/08/2025 | |
| Orion (OEC) Operating Cash Flow Comparison | 08/08/2025 | |
| Orion (OEC) Operating Income Comparison | 08/08/2025 | |
| Orion (OEC) EBITDA Comparison | 08/08/2025 | |
| Orion (OEC) Revenue Comparison | 08/08/2025 | |
| Orion (OEC) Debt Comparison | 08/08/2025 | |
| Orion (OEC) Tax Expense Comparison | 08/08/2025 | |
| Why Orion Stock Moved: OEC Stock Has Lost 82% Since 2023 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S) | 08/08/2025 |
| Title | |
|---|---|
| ARTICLES |
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|---|---|---|---|---|---|---|---|
| 01302026 | B | Barrick Mining | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 4.6% | 4.6% | -4.0% |
| 12262025 | EMN | Eastman Chemical | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 26.1% | 26.1% | 0.0% |
| 11212025 | DD | DuPont de Nemours | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 31.0% | 31.0% | -0.2% |
| 11212025 | CF | CF Industries | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 21.2% | 21.2% | -3.1% |
| 11212025 | HL | Hecla Mining | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 68.9% | 68.9% | 0.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 35.06 |
| Mkt Cap | 0.7 |
| Rev LTM | 1,924 |
| Op Inc LTM | 190 |
| FCF LTM | 95 |
| FCF 3Y Avg | 45 |
| CFO LTM | 217 |
| CFO 3Y Avg | 231 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -9.6% |
| Rev Chg 3Y Avg | -2.3% |
| Rev Chg Q | -11.1% |
| QoQ Delta Rev Chg LTM | -2.9% |
| Op Mgn LTM | 9.9% |
| Op Mgn 3Y Avg | 9.1% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 11.9% |
| CFO/Rev 3Y Avg | 12.3% |
| FCF/Rev LTM | 4.9% |
| FCF/Rev 3Y Avg | 2.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.7 |
| P/S | 0.4 |
| P/EBIT | 7.1 |
| P/E | 12.8 |
| P/CFO | 4.5 |
| Total Yield | 3.2% |
| Dividend Yield | 0.9% |
| FCF Yield 3Y Avg | 7.1% |
| D/E | 1.5 |
| Net D/E | 1.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 6.2% |
| 3M Rtn | 27.0% |
| 6M Rtn | -3.7% |
| 12M Rtn | -12.7% |
| 3Y Rtn | 0.3% |
| 1M Excs Rtn | 7.1% |
| 3M Excs Rtn | 21.0% |
| 6M Excs Rtn | -9.6% |
| 12M Excs Rtn | -23.4% |
| 3Y Excs Rtn | -60.9% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Rubber | 1,283 | 1,356 | 949 | 691 | 968 |
| Specialty | 611 | 675 | 598 | 445 | 508 |
| Corporate | 0 | 0 | |||
| Total | 1,894 | 2,031 | 1,547 | 1,136 | 1,476 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Rubber | 144 | 103 | 86 | ||
| Specialty | 61 | 103 | 84 | ||
| Corporate | 1 | 0 | -23 | ||
| Corporate Charges | -9 | ||||
| Gain related to litigation settlement | 0 | ||||
| Total | 205 | 197 | 147 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Rubber | 1,014 | 1,086 | 912 | 789 | 697 |
| Specialty | 703 | 647 | 582 | 467 | 418 |
| Corporate | 116 | 156 | 137 | 134 | 143 |
| Total | 1,833 | 1,889 | 1,631 | 1,390 | 1,257 |
Price Behavior
Price Behavior
| Market Price | $6.50 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 07/25/2014 | |
| Distance from 52W High | -56.7% | |
| 50 Days | 200 Days | |
| DMA Price | $5.94 | $8.15 |
| DMA Trend | down | up |
| Distance from DMA | 9.5% | -20.3% |
| 3M | 1YR | |
| Volatility | 73.7% | 63.1% |
| Downside Capture | 113.27 | 167.97 |
| Upside Capture | 282.33 | 63.70 |
| Correlation (SPY) | 45.6% | 38.2% |
OEC Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.47 | 2.91 | 2.48 | 1.84 | 1.21 | 1.27 |
| Up Beta | 6.67 | 6.02 | 4.00 | 3.15 | 1.32 | 1.26 |
| Down Beta | 3.97 | 2.62 | 2.18 | 1.31 | 0.99 | 1.10 |
| Up Capture | 598% | 373% | 301% | 84% | 60% | 89% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 22 | 32 | 56 | 112 | 365 |
| Down Capture | 305% | 148% | 172% | 216% | 138% | 111% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 17 | 25 | 64 | 134 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OEC | |
|---|---|---|---|---|
| OEC | -54.7% | 63.0% | -1.00 | - |
| Sector ETF (XLB) | 19.8% | 20.8% | 0.77 | 54.1% |
| Equity (SPY) | 13.6% | 19.4% | 0.53 | 37.9% |
| Gold (GLD) | 73.5% | 25.5% | 2.13 | 17.1% |
| Commodities (DBC) | 7.9% | 17.0% | 0.28 | 25.2% |
| Real Estate (VNQ) | 7.1% | 16.7% | 0.24 | 36.7% |
| Bitcoin (BTCUSD) | -31.1% | 44.9% | -0.69 | 23.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OEC | |
|---|---|---|---|---|
| OEC | -17.5% | 46.0% | -0.26 | - |
| Sector ETF (XLB) | 9.7% | 18.9% | 0.40 | 59.0% |
| Equity (SPY) | 13.5% | 17.0% | 0.63 | 45.2% |
| Gold (GLD) | 21.7% | 17.1% | 1.04 | 12.2% |
| Commodities (DBC) | 10.8% | 19.0% | 0.45 | 18.9% |
| Real Estate (VNQ) | 4.9% | 18.8% | 0.17 | 37.8% |
| Bitcoin (BTCUSD) | 8.4% | 57.2% | 0.37 | 20.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OEC | |
|---|---|---|---|---|
| OEC | -4.6% | 46.6% | 0.08 | - |
| Sector ETF (XLB) | 12.4% | 20.6% | 0.54 | 61.5% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 51.4% |
| Gold (GLD) | 15.0% | 15.6% | 0.80 | 5.0% |
| Commodities (DBC) | 8.6% | 17.6% | 0.40 | 26.7% |
| Real Estate (VNQ) | 6.9% | 20.7% | 0.30 | 43.4% |
| Bitcoin (BTCUSD) | 68.0% | 66.7% | 1.07 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2025 | -8.2% | 1.6% | 2.0% |
| 8/6/2025 | 20.1% | 18.9% | 17.2% |
| 5/7/2025 | -10.7% | 1.1% | 0.5% |
| 2/20/2025 | -0.4% | -6.9% | -11.1% |
| 11/7/2024 | -4.7% | 5.2% | 13.1% |
| 8/1/2024 | -22.4% | -21.0% | -19.1% |
| 5/2/2024 | -2.6% | 1.9% | 1.3% |
| 2/15/2024 | -0.8% | -1.2% | -4.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 12 | 13 |
| # Negative | 9 | 6 | 5 |
| Median Positive | 3.5% | 2.2% | 10.5% |
| Median Negative | -4.7% | -13.5% | -11.1% |
| Max Positive | 20.1% | 20.0% | 47.2% |
| Max Negative | -22.4% | -21.0% | -55.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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