Tearsheet

Olin (OLN)

Market Price (12/27/2025): $20.89 | Market Cap: $2.4 Bil
Sector: Materials | Industry: Diversified Chemicals

Olin (OLN)

Market Price (12/27/2025): $20.89
Market Cap: $2.4 Bil
Sector: Materials
Industry: Diversified Chemicals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, Dividend Yield is 3.9%	Weak multi-year price returns 2Y Excs Rtn is -104%, 3Y Excs Rtn is -138%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 132%
1	Megatrend and thematic drivers Megatrends include Advanced Materials, and Sustainable Resource Management. Themes include Specialty Chemicals for Performance, and Water Treatment Solutions.		Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 45x
2			Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
3			Key risks OLN key risks include [1] severe headwinds in its Winchester ammunition segment facing a delayed recovery, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.1%, Dividend Yield is 3.9%
1	Megatrend and thematic drivers Megatrends include Advanced Materials, and Sustainable Resource Management. Themes include Specialty Chemicals for Performance, and Water Treatment Solutions.
2	Weak multi-year price returns 2Y Excs Rtn is -104%, 3Y Excs Rtn is -138%
3	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 132%
4	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 45x
5	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
6	Key risks OLN key risks include [1] severe headwinds in its Winchester ammunition segment facing a delayed recovery, Show more.

Valuation, Metrics & Events

	12/27/25	2024	2023	2022	2021
Share Price CYE	$20.89	$32.62	$51.21	$49.50	$53.01
Market Cap CYE ($ Bil)	2.4	3.8	6.2	6.7	8.4
Total Debt ($ Bil)	3.3	3.2	3.0	2.9	3.2
Total Cash ($ Bil)	0.1	0.2	0.2	0.2	0.2
Enterprise Value ($ Bil)	5.6	7.0	9.2	9.6	11.6
Valuation Ratios
P/S TTM	0.4	0.6	1.0	0.8	1.0
P/EBIT TTM	10.2	12.2	9.2	4.2	4.9
P/E TTM	44.8	36.7	14.8	5.8	7.1
P/FCF TTM	29.8	12.9	9.2	4.6	5.9
Sector Ratios
P/S TTM (Sector)	1.5	1.3	1.4	1.2	1.5
P/EBIT TTM (Sector)	8.1	6.8	6.6	5.1	5.8
P/E TTM (Sector)	-0.2	6.1	7.1	4.8	6.8
P/FCF TTM (Sector)	6.9	5.8	5.0	2.7	5.7

	12/27/25	2024	2023
Share Price CYE	$20.89	$32.62	$51.21
Market Cap CYE ($ Bil)	2.4	3.8	6.2
Total Debt ($ Bil)	3.3	3.2	3.0
Total Cash ($ Bil)	0.1	0.2	0.2
Enterprise Value ($ Bil)	5.6	7.0	9.2
Valuation Ratios
P/S TTM	0.4	0.6	1.0
P/EBIT TTM	10.2	12.2	9.2
P/E TTM	44.8	36.7	14.8
P/FCF TTM	29.8	12.9	9.2
Sector Ratios
P/S TTM (Sector)	1.5	1.3	1.4
P/EBIT TTM (Sector)	8.1	6.8	6.6
P/E TTM (Sector)	-0.2	6.1	7.1
P/FCF TTM (Sector)	6.9	5.8	5.0

	OLN	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	6.8
Rev Chg Q	7.8%	7.3%
Rev Chg LTM	4.7%	6.1%
Rev Chg 3Y Avg	-10.7%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	3.4%	18.8%
CFO/Rev LTM	4.3%	20.4%
Net Inc Mgn	0.8%	13.1%
VALUATION	HIGH
P/S	0.4	3.3
P/CFO	8.1	15.8
P/FCF	29.8	20.7
P/E	44.8	23.5
STABILITY	POOR
Debt/Equity	1.38	0.21
Cash/Assets	0.02	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Total Recordable Incident Rate (TRIR)	0.67	12312024	Link
Lost Time Incident Rate (LTIR)	0.13	12312024	Link
Epoxy Resin Production Capacity	610,000 tonnes	3172022	Link
Diaphragm-Grade Chlor Alkali Capacity Reduction at Freeport, TX	225,000 ECU tons	12312022	Link
CO2 Emissions Reduction Target (Scope 1 and 2)	35% reduction by 2030	12122024	Link
Water Consumption Reduction Target	25% reduction by 2030	12122024	Link
Chlor-Alkali and Vinyls Operations Capacity Utilization	Not that far above 50%	7282023	Link

Upcoming
1/29/2026	Earnings Release	Rev: $1.0 Bil (E) EPS: $-0.28 (E)

OLN Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Here are key points highlighting why Olin (OLN) stock moved approximately -10.8% during the period from late August 2025 to late December 2025:

1. Weak Financial Performance in Early 2025: Olin reported a significant decline in net income for the first quarter of 2025 and a net loss in the second quarter of 2025, compared to the prior year periods. This performance was attributed to factors such as lower pricing in the Chlor Alkali segment, intense competition from Asian markets affecting the Epoxy segment, and reduced consumer spending impacting Winchester's commercial sales.

2. Operational Challenges and Soft Global Demand: The company's second-quarter 2025 results were specifically impacted by ongoing operational challenges and a weak global demand environment across its business segments. The Chlor Alkali segment faced increased costs, and the Epoxy segment continued to experience difficulties.

3. Persistent Struggles in the Epoxy Segment: Throughout 2025, Olin's Epoxy segment remained a significant drag on performance, consistently facing strong competition from subsidized Asian manufacturers and operating at a loss.

4. Cautious Analyst Outlook and Price Targets: Leading up to December 2025, several analyst firms maintained a "Hold" rating for Olin's stock. For instance, in October 2025, UBS set a price target that implied a potential downside for the stock. The consensus from recent analyst ratings also suggested a downside or a limited upside from current price levels.

5. Broader Macroeconomic and Structural Headwinds: Olin also faced overarching pressures, including evolving sustainability regulations, existing legacy liabilities, and heightened competition. The company's reliance on cyclical end markets and concerns about potential declines in industrial demand for caustic soda, along with the possibility of a prolonged recession in Europe, raised broader concerns about future profitability across its key segments.

Stock Movement Drivers

Fundamental Drivers

The -12.0% change in OLN stock from 9/26/2025 to 12/26/2025 was primarily driven by a -13.9% change in the company's P/S Multiple.

	9262025	12262025	Change
Stock Price ($)	23.73	20.89	-11.97%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	6663.30	6787.00	1.86%
P/S Multiple	0.41	0.35	-13.95%
Shares Outstanding (Mil)	114.90	114.40	0.44%
Cumulative Contribution			-11.97%

LTM = Last Twelve Months as of date shown

Market Drivers

9/26/2025 to 12/26/2025

	Return	Correlation
OLN	-12.0%
Market (SPY)	4.3%	44.4%
Sector (XLB)	3.8%	58.6%

Fundamental Drivers

The 4.1% change in OLN stock from 6/27/2025 to 12/26/2025 was primarily driven by a 18.4% change in the company's P/E Multiple.

	6272025	12262025	Change
Stock Price ($)	20.06	20.89	4.14%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	6549.00	6787.00	3.63%
Net Income Margin (%)	0.93%	0.79%	-15.80%
P/E Multiple	37.79	44.75	18.42%
Shares Outstanding (Mil)	115.30	114.40	0.78%
Cumulative Contribution			4.13%

LTM = Last Twelve Months as of date shown

Market Drivers

6/27/2025 to 12/26/2025

	Return	Correlation
OLN	4.1%
Market (SPY)	12.6%	38.4%
Sector (XLB)	5.4%	66.9%

Fundamental Drivers

The -35.4% change in OLN stock from 12/26/2024 to 12/26/2025 was primarily driven by a -66.0% change in the company's Net Income Margin (%).

	12262024	12262025	Change
Stock Price ($)	32.32	20.89	-35.36%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	6483.40	6787.00	4.68%
Net Income Margin (%)	2.31%	0.79%	-65.99%
P/E Multiple	25.18	44.75	77.70%
Shares Outstanding (Mil)	116.90	114.40	2.14%
Cumulative Contribution			-35.39%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2024 to 12/26/2025

	Return	Correlation
OLN	-35.4%
Market (SPY)	15.8%	59.8%
Sector (XLB)	9.6%	74.7%

Fundamental Drivers

The -58.7% change in OLN stock from 12/27/2022 to 12/26/2025 was primarily driven by a -94.6% change in the company's Net Income Margin (%).

	12272022	12262025	Change
Stock Price ($)	50.55	20.89	-58.68%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	9829.60	6787.00	-30.95%
Net Income Margin (%)	14.62%	0.79%	-94.62%
P/E Multiple	4.97	44.75	800.86%
Shares Outstanding (Mil)	141.20	114.40	18.98%
Cumulative Contribution			-60.17%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2023 to 12/26/2025

	Return	Correlation
OLN	-60.0%
Market (SPY)	48.0%	54.3%
Sector (XLB)	10.5%	71.7%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
OLN Return	51%	139%	-7%	3%	-36%	-37%	40%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
OLN Win Rate	58%	67%	67%	50%	42%	33%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
OLN Max Drawdown	-45%	-3%	-26%	-20%	-38%	-46%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See OLN Returns vs. Peers.
[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] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	OLN	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-36.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	58.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-51.0%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	104.1%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	234 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-60.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	150.5%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	573 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-70.0%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	233.0%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	2,190 days	1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Olin's stock fell -36.9% during the 2022 Inflation Shock from a high on 6/2/2022. A -36.9% loss requires a 58.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Olin (OLN)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite. The Epoxy segment provides epoxy materials and precursors, including aromatics, such as acetone, bisphenol, cumene, and phenol, as well as allyl chloride, epichlorohydrin, and glycerin used for the manufacturers of polymers, resins and other plastic materials, and water purification; liquid and solid epoxy resins that are used in adhesives, marines, protective coatings, composites, and flooring; and converted epoxy resins and additives for use in electrical laminates, paints and coatings, wind blades, electronics, and construction. The Winchester segment offers sporting ammunition products, including shotshells, small caliber centerfire, and rimfire ammunition products for hunters and recreational shooters, and law enforcement agencies; small caliber military ammunition products for use in infantry and mounted weapons; and industrial products comprising gauge loads and powder-actuated tool loads for maintenance applications in power and concrete industries, and powder-actuated tools in construction industry. The company markets its products through its sales force, as well as directly to various industrial customers, mass merchants, retailers, wholesalers, other distributors, and the U.S. Government and its prime contractors. Olin Corporation was incorporated in 1892 and is based in Clayton, Missouri.

AI Analysis | Feedback

Here are 1-3 brief analogies for Olin (OLN):

For its core chemicals business: Olin is a foundational supplier of essential industrial chemicals, similar to how Linde provides critical industrial gases.
For its ammunition business: Through its iconic Winchester brand, Olin is a leading manufacturer of ammunition, much like Gillette is known for its razor blades.

AI Analysis | Feedback

Chlorine: A fundamental chemical used in water treatment, PVC production, and various industrial processes.
Caustic Soda (Sodium Hydroxide): An alkali chemical widely utilized in alumina production, pulp and paper manufacturing, and water treatment.
Epoxy Resins: High-performance polymers used to create durable coatings, strong adhesives, advanced composites, and electrical laminates.
Ammunition: A comprehensive range of cartridges and components for sporting, hunting, military, and law enforcement applications under the Winchester brand.
Hydrochloric Acid: An inorganic acid primarily used in industrial cleaning, food processing, and oil and gas well stimulation.

AI Analysis | Feedback

Olin Corporation (OLN) primarily sells its products to other companies (B2B) across a wide range of industries globally.

While Olin's 10-K filings indicate that a significant portion of its sales comes from a few major customers (e.g., its largest customer accounted for approximately 12% of consolidated net sales in 2023), the company does not publicly disclose the names of these specific customer companies due to confidentiality agreements inherent in its business relationships. This is standard practice for suppliers of commodity chemicals and industrial products.

Therefore, instead of specific customer company names, below are the major categories of industries and types of customers that Olin serves through its three primary business segments:

Chlor Alkali Products and Vinyls (CAV)

Chemical and Petrochemical Industry: Customers who utilize chlorine, caustic soda, and various derivatives as fundamental raw materials in their own chemical production processes. These include manufacturers of PVC (polyvinyl chloride), ethylene dichloride, and other organic and inorganic chemicals.
Manufacturing and Industrial Sector: Companies involved in a diverse range of manufacturing activities, including pulp and paper production, water treatment, aluminum processing, production of detergents and soaps, textiles, and various other industrial applications that require basic chemicals.

Epoxy

Coatings and Adhesives Manufacturers: Companies that produce protective coatings, industrial paints, and various types of adhesives for construction, automotive, marine, and general industrial applications.
Electronics and Electrical Sector: Manufacturers using epoxy resins in circuit boards, encapsulants, and other components for electronic devices and electrical insulation systems.
Aerospace, Automotive, and Wind Energy Industries: Companies that utilize high-performance epoxy materials for lightweight composites, structural components, and advanced applications requiring durability, strength, and chemical resistance.

Winchester

U.S. Government and Military: Direct sales of small caliber ammunition for defense and training purposes to various branches of the U.S. government and military.
Law Enforcement Agencies: Sales to federal, state, and local law enforcement agencies for duty and training.
Commercial Distributors and Retailers: Companies that distribute and sell ammunition to the civilian market, which includes individual consumers (hunters, sport shooters, recreational shooters) through various retail channels (sporting goods stores, gun shops, and large national retailers). While the ultimate end-user is often an individual, Olin's direct customers in this channel are typically businesses.

AI Analysis | Feedback

null

AI Analysis | Feedback

Kenneth T. Lane, President and Chief Executive Officer

Kenneth T. Lane was appointed Olin's President and Chief Executive Officer and a Director in March 2024. He possesses an extensive background in the plastics, chemicals, and refining industry, with over 30 years of experience. Prior to joining Olin, Mr. Lane held leadership roles at LyondellBasell, where he served as Executive Vice President of Global Olefins and Polyolefins and as interim CEO. He also spent 13 years at BASF, holding senior executive positions across various divisions, including Global Polyurethanes, Monomers, and Catalysts. Earlier in his career, he held operations, strategy, commercial, and technical roles at BP Chemicals and Amoco Chemical Corporation. His international experience spans the United States, Malaysia, the United Kingdom, China, and Belgium. Mr. Lane holds a Bachelor of Science in civil engineering from Clemson University and a Master of Science in management from the University of Alabama in Huntsville.

Todd Slater, Senior Vice President and Chief Financial Officer

Todd Slater serves as Olin's Senior Vice President and Chief Financial Officer. He is responsible for leading the company's Audit, Taxes, Investor Relations, Financial Planning & Analysis, and Environmental Remediation departments. Mr. Slater joined Olin in 2002 following Olin's acquisition of Chase Brass. During his tenure at Olin, he has held positions including Vice President & Financial Officer for the Metals Group, Operations Controller, Vice President and Controller, and Vice President and CFO in 2014, before being appointed to his current role in 2022. His career began at Price Waterhouse, and at Chase Brass, he served as Controller, Treasurer and Corporate Secretary, eventually advancing to Vice President and Chief Financial Officer. Mr. Slater holds a Bachelor of Science in Mathematics and Accounting from Hillsdale College and is a Certified Public Accountant (CPA).

Angela Castle, Vice President and Chief Legal Officer

Angela Castle is set to become Olin's Vice President and Chief Legal Officer effective March 1, 2025. Prior to this appointment, she served as Vice President & General Counsel for North America. Before joining Olin, Ms. Castle was Senior Counsel at LyondellBasell from June 2010 to September 2017.

Deon Carter, Vice President and President, Chlor Alkali Products & Vinyls

Deon Carter was appointed Vice President and President, Chlor Alkali Products & Vinyls, effective June 17, 2024.

Brett Flaugher, Vice President and President, Winchester

Brett Flaugher serves as Olin's Vice President and President of the Winchester division.

AI Analysis | Feedback

The key risks to Olin Corporation's business include:

Weak market demand, intense competition, and cyclicality in core chemical and ammunition segments: Olin faces significant challenges from declining demand for chlorine derivatives and in the epoxy sector, leading to a downgrade by Citigroup. The Epoxy segment, which focuses on resins for paints and coatings, also struggles with persistent competition from cheaper Asian products, which has squeezed margins. Additionally, the Winchester ammunition segment is experiencing substantial headwinds due to weak consumer spending, retailer destocking, and higher costs, with a meaningful recovery not expected until 2026. The chemical industry itself is subject to demand fluctuations and global overcapacity, particularly from high-cost Asian producers, which further pressures Olin's profitability and margins. The Chlor Alkali business, a major segment, is also highly cyclical, leading to significant variations in its contribution to earnings.
Financial distress and high leverage: Olin's financial health presents a mixed picture with several areas of concern. The company's Altman Z-Score indicates financial distress, implying a possibility of bankruptcy within the next two years. Olin also carries a high debt-to-equity ratio and has been issuing new debt. Furthermore, its interest payments are not well covered by earnings, and its quick ratio points to potential short-term liquidity issues.

AI Analysis | Feedback

null

AI Analysis | Feedback

Olin Corporation (OLN) operates in three main business segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester Ammunition. The addressable markets for these products are as follows:

Chlorine: The global chlorine market size was valued at approximately USD 52.94 billion in 2024 and is projected to reach USD 69.97 billion by 2032. Asia Pacific held the largest market share in 2024. North America is estimated to account for 33.6% of the global market share in 2025.
Caustic Soda (Sodium Hydroxide): The global caustic soda market size was calculated at USD 47.99 billion in 2025 and is predicted to increase to approximately USD 74.01 billion by 2034. Asia Pacific dominated the global caustic soda market with the largest market share of 53.2% in 2024.
Epoxy: The global epoxy resin market size was valued at approximately USD 12.33 billion in 2025 and is predicted to increase to about USD 20.31 billion by 2034. Asia Pacific made up 59.57% of the revenue share in 2024.
Ammunition: The global ammunition market size was valued at USD 25.8 billion in 2024 and is estimated to reach USD 36.1 billion by 2033. North America holds the largest market share, accounting for over 41% in 2024.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Olin (OLN) over the next 2-3 years:

Improved Pricing and Demand in Chlor Alkali Products: Olin anticipates improvements in caustic soda prices due to tighter supply conditions, which is expected to positively impact margins and revenue. The Chlor Alkali Products and Vinyls segment, which contributes over 56% of Olin's revenue, is projected to benefit from growing demand for water treatment and a general expansion of the chemical industry. Management has expressed confidence in future demand growth for chlor alkali, and the company's strategic actions, such as idling assets in weak markets, are aimed at improving pricing power and overall segment performance.
Growth in Epoxy Formulated Solutions and Volumes: Despite broader market challenges, Olin's Epoxy segment has shown sequential and year-over-year improvements in sales and volumes. Management is optimistic about cost control and growth in formulated solutions product lines within the Epoxy division, indicating a strategic focus on higher-value offerings. The segment saw a 23% increase in sales in Q3 2025, highlighting robust product demand in specific areas.
Strong Military and Law Enforcement Sales in Winchester: While commercial ammunition sales have faced headwinds, Olin's Winchester segment continues to experience robust demand from military and law enforcement customers. Strategic actions like the acquisition of AMMO Inc.'s assets for $56 million and a three-year contract extension for operating the Lake City Ammunition facility through 2030 are expected to deliver high returns and contribute to revenue growth in this segment.
Strategic Expansion and Optimization in Chlor Alkali Products and Vinyls: Olin is focused on optimizing its core businesses through self-help initiatives and low-capital growth projects. This includes the development of PVC tolling initiatives to broaden its product and customer portfolio, leveraging its integrated VCM asset. Additionally, a new supply agreement for European production starting in January 2026 is expected to provide an annual adjusted EBITDA benefit, suggesting potential for revenue growth through improved market position and economics.
Implementation of Commercial Price Increases: To mitigate higher commodity and metals costs, Olin plans to issue commercial price increases, specifically noted for the Winchester segment in the third quarter of 2025. Such price adjustments, when successfully implemented, can directly contribute to revenue growth.

AI Analysis | Feedback

Share Repurchases

Olin repurchased approximately $1.351 billion in shares in 2022, $711.3 million in 2023, and $300.3 million in 2024.
During the third quarter of 2025, Olin repurchased approximately 0.5 million shares of common stock at a cost of $10.1 million.
As of September 30, 2025, Olin had approximately $2.0 billion available under its share repurchase authorizations.

Outbound Investments

In the second quarter of 2025, Olin acquired AMMO, Inc.'s small-caliber ammunition assets, including its Manitowoc, Wisconsin facility, for $75 million.
This acquisition is expected to generate $40 million in cost savings and $15–$20 million in incremental EBITDA in its first year.

Capital Expenditures

In 2024, Olin invested $375 million in capital expenditures primarily to improve operational efficiency and expand production capabilities.
Expected capital spending for 2025 is projected to be between $200 million and $220 million, which is slightly above 2024 levels.
A primary focus of capital expenditures is to fund sustaining capital spending to maintain the safe and reliable operation of Olin's assets.

Better Bets than Olin (OLN)

INDUSTRY: Diversified Chemicals

Higher Rev Chg 3Y Avg | Lower P/S (Values for OLN: -10.7% | 0.4x)

CC (-5.8% | 0.3x)

Chemours

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OLN: -10.7% | 10.2x)

CBT (-4.8% | 5.7x)

Cabot

Higher Rev Chg 3Y Avg (Value for OLN: -10.7%)

CBT (-4.8%)

Cabot

CC (-5.8%)

Chemours

ASH (-8.5%)

Ashland

Higher Op Mgn LTM (Value for OLN: 3.4%)

CBT (16.7%)

Cabot

ASH (4.8%)

Ashland

Higher CFO/Rev LTM (Value for OLN: 4.3%)

CBT (17.9%)

Cabot

ASH (5.2%)

Ashland

CC (4.5%)

Chemours

Higher FCF/Rev LTM (Value for OLN: 1.2%)

CBT (10.5%)

Cabot

Higher Total Yield (Value for OLN: 6.1%)

CBT (12.1%)

Cabot

SECTOR: Materials

Higher Rev Chg 3Y Avg | Lower P/S (Values for OLN: -10.7% | 0.4x)

CSTM (-1.4% | 0.3x)

Constellium

CC (-5.8% | 0.3x)

Chemours

TROX (-7.3% | 0.2x)

Tronox

MATV (20.1% | 0.3x)

Mativ

SXC (0.7% | 0.3x)

SunCoke Energy

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OLN: -10.7% | 10.2x)

NTR (-10.6% | 8.5x)

Nutrien

SW (55.9% | 9.3x)

Smurfit WestRock

DD (1.3% | 8.1x)

DuPont de Nemours

CCK (-2.1% | 7.2x)

Crown

EMN (-5.9% | 6.1x)

Eastman Chemical

Higher Rev Chg LTM (Value for OLN: 4.7%)

AU (61.8%)

Anglogold Ashanti

AEM (35.2%)

Agnico Eagle Mines

NEM (26.6%)

Newmont

B (18.4%)

Barrick Mining

SCCO (12.7%)

Southern Copper

Higher Rev Chg 3Y Avg (Value for OLN: -10.7%)

AEM (26.0%)

Agnico Eagle Mines

NEM (23.9%)

Newmont

SCCO (7.1%)

Southern Copper

CRH (5.7%)

CRH

LIN (0.6%)

Linde

Higher Op Mgn LTM (Value for OLN: 3.4%)

SCCO (50.3%)

Southern Copper

AEM (49.4%)

Agnico Eagle Mines

NEM (43.5%)

Newmont

LIN (26.9%)

Linde

CRH (13.8%)

CRH

Higher CFO/Rev LTM (Value for OLN: 4.3%)

AEM (55.2%)

Agnico Eagle Mines

NEM (42.9%)

Newmont

SCCO (37.4%)

Southern Copper

LIN (29.8%)

Linde

CRH (14.7%)

CRH

Higher FCF/Rev LTM (Value for OLN: 1.2%)

AEM (34.5%)

Agnico Eagle Mines

NEM (28.5%)

Newmont

SCCO (28.2%)

Southern Copper

LIN (15.2%)

Linde

CRH (7.1%)

CRH

Higher Total Yield (Value for OLN: 6.1%)

NTR (9.4%)

Nutrien

AU (7.6%)

Anglogold Ashanti

NEM (7.2%)

Newmont

PPG (6.9%)

PPG Industries

TECK (6.4%)

Teck Resources

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for OLN: -10.7% | 0.4x)

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

CI (13.6% | 0.3x)

Cigna

COR (10.4% | 0.2x)

Cencora

F (7.8% | 0.3x)

Ford Motor

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OLN: -10.7% | 10.2x)

T (1.1% | 7.3x)

AT&T

VZ (0.5% | 5.4x)

Verizon Communications

BN (-5.8% | 8.8x)

Brookfield

BUD (0.8% | 8.3x)

Anheuser-Busch InBev SA/NV

COP (-6.6% | 9.1x)

ConocoPhillips

Higher Rev Chg LTM (Value for OLN: 4.7%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for OLN: -10.7%)

NVDA (91.6%)

NVIDIA

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for OLN: 3.4%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for OLN: 4.3%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for OLN: 1.2%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

AMZN (2.0%)

Amazon.com

Higher Total Yield (Value for OLN: 6.1%)

XOM (9.2%)

Exxon Mobil

JNJ (7.5%)

Johnson & Johnson

BAC (7.1%)

Bank of America

JPM (6.4%)

JPMorgan Chase

BRK-B (6.3%)

Berkshire Hathaway

		Best Bets In Materials Sector
	OLN	SCCO	USLM	CF	NEU	EXP	LIN	NEM	SMG	CBT	B
What You Pay
P/E	44.8	32.2	27.8	9.0	14.8	15.5	29.8	16.1	23.1	10.7	22.0
P/EBIT	10.2	19.4	23.7	5.6	10.7	11.4	21.4	11.1	9.6	5.5	11.3
What You Get
Rev Chg Q	7.8%	15.2%	14.1%	21.1%	-4.8%	2.5%	2.8%	20.0%	-6.6%	-10.2%	23.2%
Rev Chg LTM	4.7%	12.7%	20.3%	12.6%	-1.1%	1.5%	1.3%	26.6%	-3.9%	-7.0%	18.4%
Rev Chg 3Y Avg	-10.7%	7.1%	17.8%	-13.5%	1.1%	4.1%	0.6%	23.9%	-4.5%	-4.8%	8.5%
FCF/Rev 3Y Avg	6.7%	27.0%	25.6%	22.3%	17.5%	16.7%	15.4%	13.8%	12.3%	10.3%	10.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.8%, and sharpe of 0.46

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Olin Earnings Notes
2	Olin Earnings Notes
3	Olin Stock Drop Looks Sharp, But How Deep Can It Go?	Return
4	With OLN Up 13% in a Week, Is It Time to Compare It Against UNH?	Counter-Intuitive Comparisons
5	With OLN Up 13% in a Week, Is It Time to Compare It Against B?	Counter-Intuitive Comparisons
6	How Does Olin Stock Stack Up Against Its Peers?	Peer Comparison
7	Better Bet Than OLN Stock: Pay Less Than Olin To Get More From UNH, MRK
8	Better Bet Than OLN Stock: Pay Less Than Olin To Get More From AA, NEU
9	OLN Dip Buy Analysis
10	Olin Total Shareholder Return (TSR): -32.4% in 2024 and -12.2% 3-yr compounded annual returns (below peer average)

	Title
0	ARTICLES

Trade Ideas

Select ideas related to OLN. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
DD_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	DD	DuPont de Nemours	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	7.6%	7.6%	-0.2%
CF_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	CF	CF Industries	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-1.4%	-1.4%	-3.1%
HL_11212025_Quality_Momentum_RoomToRun_10%	11212025	HL	Hecla Mining	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	51.0%	51.0%	0.0%
CDE_11072025_Dip_Buyer_ValueBuy	11072025	CDE	Coeur Mining	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	30.6%	30.6%	-5.7%
ATR_10312025_Dip_Buyer_ValueBuy	10312025	ATR	AptarGroup	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.2%	6.2%	-2.5%
OLN_6302022_Dip_Buyer_2_Growing_With_High_FCF_Yield	06302022	OLN	Olin	Dip Buy	DB \| Growth \| FCF YieldDip Buy with Growth and High Free Cash Flow Yield Buying dips for companies with growth, and significant free cash flow yield (FCF / Market Cap)	16.5%	12.6%	-8.5%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Olin

Peers to compare with:

Financials

	OLN	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Olin	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	20.89	23.26	24.49	305.09	78.16	273.40	51.32
Mkt Cap	2.4	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	6,787	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	234	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	80	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	460	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	295	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	681	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	OLN	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Olin	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	4.7%	3.2%	13.8%	4.5%	8.9%	6.0%	5.3%
Rev Chg 3Y Avg	-10.7%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.2%
Rev Chg Q	7.8%	4.2%	14.4%	9.1%	7.5%	9.6%	8.4%
QoQ Delta Rev Chg LTM	1.9%	1.1%	3.7%	2.1%	1.8%	2.1%	2.0%
Op Mgn LTM	3.4%	6.6%	4.8%	17.7%	22.5%	31.9%	12.1%
Op Mgn 3Y Avg	7.7%	7.4%	7.2%	16.4%	24.2%	30.8%	12.0%
QoQ Delta Op Mgn LTM	0.9%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	4.3%	6.7%	8.5%	20.6%	23.8%	26.6%	14.6%
CFO/Rev 3Y Avg	9.9%	6.8%	12.7%	21.4%	26.1%	28.4%	17.1%
FCF/Rev LTM	1.2%	5.1%	1.8%	18.1%	22.1%	23.5%	11.6%
FCF/Rev 3Y Avg	6.7%	5.5%	4.6%	18.6%	24.6%	25.6%	12.7%

Valuation

	OLN	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Olin	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	2.4	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	0.4	0.4	1.0	4.4	5.4	10.0	2.7
P/EBIT	10.2	6.8	19.9	25.1	22.5	31.3	21.2
P/E	44.8	8.6	572.7	36.0	29.9	41.0	38.5
P/CFO	8.1	5.9	11.2	21.1	22.5	37.5	16.2
Total Yield	6.1%	14.1%	2.3%	5.0%	5.4%	2.8%	5.2%
Dividend Yield	3.9%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	8.2%	10.6%	5.5%	6.4%	6.0%	3.1%	6.2%
D/E	1.4	0.5	0.7	0.2	0.1	0.0	0.4
Net D/E	1.3	0.3	0.6	0.2	0.0	0.0	0.3

Returns

	OLN	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Olin	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	1.6%	-1.8%	14.4%	0.6%	2.7%	-1.5%	1.1%
3M Rtn	-12.0%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	4.1%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	-35.4%	-27.3%	14.2%	39.2%	33.7%	6.0%	10.1%
3Y Rtn	-58.7%	-3.8%	67.7%	139.0%	79.5%	113.4%	73.6%
1M Excs Rtn	1.5%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.1%
3M Excs Rtn	-16.3%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	-8.1%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	-50.7%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	-4.6%
3Y Excs Rtn	-138.1%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

Comparison Analyses

	Title
0	How Does Olin Stock Stack Up Against Its Peers?
1	Why DD With 7.8% Upside May Beat OLN?
2	Why HUN With 5.0% Upside May Beat OLN?
3	FUL Looks Stronger Than OLN With 10% Return Potential
4	Why WLK With 17% Upside May Beat OLN?
5	Olin vs. Teva Pharmaceutical Industries: With Return Forecast Of 23%, Teva Pharmaceutical Industries Is A Better Bet
6	Olin vs. Paylocity Holding: With Return Forecast Of 73%, Paylocity Holding Is A Better Bet
7	Olin vs. News: With Return Forecast Of 19%, News Is A Better Bet
8	Olin vs. Marriott: With Return Forecast Of 23%, Marriott Is A Better Bet
9	Olin vs. Vertex Pharmaceuticals: With Return Forecast Of 106%, Vertex Pharmaceuticals Is A Better Bet

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/28/2025	2/20/2025	2/22/2024	2/23/2023	2/24/2022	2/22/2021	2/25/2020
Key Financials
Total Revenue	6,787	6,540	6,833	9,376	8,911	5,758	6,110
EBITDA	759	844	1,274	2,419	2,469	-159	804
Operating Income	234	330	802	1,804	1,879	-38	254
Net Income	53	109	460	1,327	1,297	-970	-11
EPS	0.46	0.92	3.66	9.16	8.15	-6.14	-0.07
Growth Rates
Total Revenue Growth	4.7%	-4.3%	-27.1%	5.2%	54.8%	-5.8%	-12.0%
EBITDA Growth	-15.3%	-33.7%	-47.3%	-2.0%	1653.9%	-119.8%	-37.3%
Operating Income Growth	-36.6%	-58.9%	-55.6%	-4.0%	5057.0%	-114.9%	-63.3%
Net Income Growth	-64.4%	-76.4%	-65.3%	2.3%	233.7%	-8483.2%	-103.4%
Margins
EBITDA Margin	11.2%	12.9%	18.6%	25.8%	27.7%	-2.8%	13.2%
Operating Income Margin	3.4%	5.0%	11.7%	19.2%	21.1%	-0.7%	4.2%
Net Income Margin	0.8%	1.7%	6.7%	14.2%	14.6%	-16.8%	-0.2%
Cash & Debt
Total Cash	140	176	170	194	180	190	221
Total Debt	3,304	3,150	3,022	2,945	3,158	4,230	3,724
Net Debt / (Cash)	3,164	2,975	2,852	2,751	2,978	4,040	3,503
Cash Flows
Net Cash from Operations	295	503	974	1,922	1,741	433	617
Free Cash from Operations	80	308	738	1,685	1,540	134	232
Returns to Shareholders
Dividends	92	94	101	116	128	126	129
Share Repurchases	84	300	711	1,351	252	-0	146

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/28/2025	7/29/2025	5/2/2025	2/20/2025	10/25/2024	7/26/2024	4/26/2024	2/22/2024	10/27/2023	7/28/2023	4/28/2023	2/23/2023
Key Financials Quarterly
Total Revenue	1,713	1,758	1,644	1,671	1,590	1,644	1,635	1,615	1,671	1,703	1,844	1,977
Ebitda	222	170	183	184	153	272	235	236	304	360	374	433
Operating Income	86	43	48	58	23	143	106	97	178	236	297	285
Net Income	43	-1	1	11	-25	74	48	53	104	147	156	197
EPS	0.37	-0.01	0.01	0.09	-0.21	0.63	0.41	0.44	0.84	1.15	1.19	1.46
Key Financials TTM
Total Revenue TTM	6,787	6,663	6,549	6,540	6,483	6,565	6,624	6,833	7,195	7,846	8,759	9,376
Ebitda TTM	759	690	792	844	896	1,046	1,134	1,274	1,471	1,721	2,085	2,419
Operating Income TTM	234	171	272	330	369	523	616	807	995	1,219	1,552	1,804
Net Income TTM	53	-14	61	108	150	279	352	460	604	815	1,090	1,327
Growth Rates Quarterly
Total Revenue Growth	7.8%	7.0%	0.5%	3.5%	-4.9%	-3.4%	-11.3%	-18.3%	-28.0%	-34.9%	-25.1%	-18.7%
EBITDA Growth	44.8%	-37.6%	-22.1%	-21.9%	-49.5%	-24.4%	-37.3%	-45.6%	-45.1%	-50.3%	-47.1%	-36.8%
Operating Income Growth	266.2%	-70.2%	-54.8%	-40.4%	-86.8%	-39.3%	-64.4%	-66.1%	-55.6%	-58.5%	-46.0%	-46.2%
Net Income Growth	271.9%	-101.8%	-97.5%	-79.8%	-123.9%	-49.5%	-69.4%	-73.1%	-67.0%	-65.2%	-60.2%	-35.9%
Margins Quarterly
EBITDA Margin	13.0%	9.7%	11.1%	11.0%	9.7%	16.6%	14.3%	14.6%	18.2%	21.1%	20.3%	21.9%
Operating Income Margin	5.0%	2.4%	2.9%	3.4%	1.5%	8.7%	6.5%	6.0%	10.6%	13.9%	16.1%	14.4%
Net Income Margin	2.5%	-0.1%	0.1%	0.6%	-1.6%	4.5%	2.9%	3.3%	6.2%	8.6%	8.5%	9.9%
Cash & Debt
Total Cash	140	224	174	176	226	182	151	170	158	161	176	194
Total Debt	3,304	3,284	3,330	3,150	3,205	3,239	3,108	3,022	3,129	3,070	3,129	2,945
Net Debt / (Cash)	3,164	3,060	3,156	2,975	2,979	3,057	2,957	2,852	2,970	2,909	2,953	2,751
Cash Flows Quarterly
FCF from Operations	27	212	-86	142	190	91	81	417	215	306	38	412
Cash Flows TTM
FCF from Operations TTM	295	458	336	503	778	803	1,018	974	970	1,306	1,606	1,922
Returns to Shareholders Quarterly
Dividends	23	23	23	23	23	24	24	24	25	26	26	27
Share Repurchases	10	10	20	44	45	106	105	116	202	187	206	250
Return on Invested Capital (ROIC) Quarterly
ROIC	10.8%	2.3%	3.5%	7.7%	3.1%	14.0%	11.3%	11.0%	19.8%	26.4%	30.4%	29.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	7.4%	4.7%	6.0%	8.2%	9.3%	13.6%	17.0%	22.9%	27.0%	34.5%	40.5%	46.5%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Chlor Alkali Products and Vinyls	3,995	5,085	4,141	2,960	3,420
Winchester	1,509	1,601	1,584	928	666
Epoxy	1,329	2,690	3,186	1,870	2,024
Corporate/Other	0
Total	6,833	9,376	8,911	5,758	6,110

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Chlor Alkali Products and Vinyls	5,650	5,782	6,185	6,166	6,899
Epoxy	979	1,202	1,307	1,153	1,469
Winchester	684	595	541	468	385
Corporate/Other	400	465	485	484	435
Total	7,713	8,044	8,518	8,271	9,188

Price Behavior

Price Behavior

Market Price	$20.89
Market Cap ($ Bil)	2.4
First Trading Date	12/30/1987
Distance from 52W High	-37.1%
	50 Days	200 Days
DMA Price	$20.78	$21.41
DMA Trend	down	down
Distance from DMA	0.5%	-2.4%
	3M	1YR
Volatility	54.5%	58.2%
Downside Capture	222.95	188.28
Upside Capture	117.29	118.46
Correlation (SPY)	45.0%	59.7%

OLN Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.98	1.96	1.92	2.06	1.75	1.46
Up Beta	1.11	2.50	2.83	2.64	2.15	1.83
Down Beta	-2.80	2.12	2.31	2.32	1.51	1.33
Up Capture	168%	94%	93%	173%	107%	86%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	11	21	31	59	108	353
Down Capture	138%	215%	181%	179%	140%	109%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	21	32	67	140	397

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of OLN With Other Asset Classes (Last 1Y)
	OLN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-35.3%	9.9%	17.8%	72.1%	8.6%	4.4%	-8.3%
Annualized Volatility	57.8%	19.9%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	-0.54	0.36	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		74.7%	59.7%	8.2%	29.8%	55.8%	37.0%

ETFs used for asset classes: Sector ETF = XLB, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of OLN With Other Asset Classes (Last 5Y)
	OLN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-2.1%	7.2%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	44.1%	18.9%	17.1%	15.5%	18.7%	18.9%	48.7%
Sharpe Ratio	0.10	0.29	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		68.1%	52.2%	11.6%	26.8%	44.6%	26.2%

Based On 10-Year Data

		Comparison of OLN With Other Asset Classes (Last 10Y)
	OLN	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	4.7%	10.1%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	46.8%	20.7%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.27	0.44	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		65.5%	53.9%	2.7%	29.9%	43.2%	17.0%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	10,066,636
Short Interest: % Change Since 11302025	2.6%
Average Daily Volume	2,750,108
Days-to-Cover Short Interest	3.66
Basic Shares Quantity	114,400,000
Short % of Basic Shares	8.8%

Returns Analyses

	Title
0	Olin Stock Drop Looks Sharp, But How Deep Can It Go?
1	Olin Stock Return Comparison
2	[10/7/2021] Olin (OLN) Stock Price Forecast: AI Forecasts OLN Stock Price To Be Around $50.50 In A Month (Up 1.8%)
3	Olin (OLN) Stock Return: AI Predicts OLN Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/27/2025	-12.4%	-16.5%	-15.5%
7/28/2025	5.1%	-10.9%	11.5%
5/1/2025	2.5%	-1.1%	-10.6%
1/30/2025	-8.9%	-11.4%	-25.7%
10/24/2024	-8.0%	-8.9%	-4.4%
7/25/2024	-7.2%	-7.5%	-7.0%
4/25/2024	1.2%	0.9%	3.4%
1/25/2024	6.6%	1.7%	1.0%
...
SUMMARY STATS
# Positive	16	15	15
# Negative	9	10	10
Median Positive	4.5%	6.9%	11.5%
Median Negative	-8.0%	-8.2%	-7.1%
Max Positive	9.4%	20.5%	28.4%
Max Negative	-12.4%	-16.5%	-25.7%

	Forward Returns
10/27/2025	-12.4%	-16.5%	-15.5%
7/28/2025	5.1%	-10.9%	11.5%
5/1/2025	2.5%	-1.1%	-10.6%
1/30/2025	-8.9%	-11.4%	-25.7%
10/24/2024	-8.0%	-8.9%	-4.4%
7/25/2024	-7.2%	-7.5%	-7.0%
4/25/2024	1.2%	0.9%	3.4%
1/25/2024	6.6%	1.7%	1.0%
10/26/2023	-9.0%	-5.4%	2.0%
7/27/2023	4.0%	5.7%	4.5%
4/27/2023	1.3%	-2.0%	-7.1%
1/26/2023	7.0%	7.7%	1.9%
10/26/2022	5.7%	7.1%	17.3%
7/28/2022	5.4%	5.2%	14.3%
4/28/2022	7.8%	20.5%	25.9%
1/27/2022	-3.3%	3.2%	4.3%
10/21/2021	9.4%	9.9%	17.2%
7/27/2021	4.4%	6.1%	7.2%
4/28/2021	4.5%	10.8%	17.4%
1/28/2021	-4.3%	9.5%	28.4%
11/5/2020	2.9%	3.1%	11.8%
8/5/2020	-6.4%	-3.1%	-3.8%
4/30/2020	-8.2%	-15.0%	-4.5%
2/4/2020	3.5%	9.1%	-10.8%
11/1/2019	2.4%	6.9%	-6.8%
SUMMARY STATS
# Positive	16	15	15
# Negative	9	10	10
Median Positive	4.5%	6.9%	11.5%
Median Negative	-8.0%	-8.2%	-7.1%
Max Positive	9.4%	20.5%	28.4%
Max Negative	-12.4%	-16.5%	-25.7%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10282025	10-Q 9/30/2025
6302025	7292025	10-Q 6/30/2025
3312025	5022025	10-Q 3/31/2025
12312024	2202025	10-K 12/31/2024
9302024	10252024	10-Q 9/30/2024
6302024	7262024	10-Q 6/30/2024
3312024	4262024	10-Q 3/31/2024
12312023	2222024	10-K 12/31/2023
9302023	10272023	10-Q 9/30/2023
6302023	7282023	10-Q 6/30/2023
3312023	4282023	10-Q 3/31/2023
12312022	2232023	10-K 12/31/2022
9302022	10272022	10-Q 9/30/2022
6302022	7292022	10-Q 6/30/2022
3312022	4292022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021

Insider Activity

Expand for Morenull

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Olin (OLN)

Market Price (12/27/2025): $20.89 | Market Cap: $2.4 BilSector: Materials | Industry: Diversified Chemicals

Olin (OLN)

Market Price (12/27/2025): $20.89Market Cap: $2.4 BilSector: MaterialsIndustry: Diversified Chemicals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

OLN Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Olin (OLN)

Chlor Alkali Products and Vinyls (CAV)

Epoxy

Winchester

Interactive Breakdown

Better Bets than Olin (OLN)

INDUSTRY: Diversified Chemicals

Higher Rev Chg 3Y Avg | Lower P/S (Values for OLN: -10.7% | 0.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OLN: -10.7% | 10.2x)

Higher Rev Chg 3Y Avg (Value for OLN: -10.7%)

Higher Op Mgn LTM (Value for OLN: 3.4%)

Higher CFO/Rev LTM (Value for OLN: 4.3%)

Higher FCF/Rev LTM (Value for OLN: 1.2%)

Higher Total Yield (Value for OLN: 6.1%)

SECTOR: Materials

Higher Rev Chg 3Y Avg | Lower P/S (Values for OLN: -10.7% | 0.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OLN: -10.7% | 10.2x)

Higher Rev Chg LTM (Value for OLN: 4.7%)

Higher Rev Chg 3Y Avg (Value for OLN: -10.7%)

Higher Op Mgn LTM (Value for OLN: 3.4%)

Higher CFO/Rev LTM (Value for OLN: 4.3%)

Higher FCF/Rev LTM (Value for OLN: 1.2%)

Higher Total Yield (Value for OLN: 6.1%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for OLN: -10.7% | 0.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for OLN: -10.7% | 10.2x)

Higher Rev Chg LTM (Value for OLN: 4.7%)

Higher Rev Chg 3Y Avg (Value for OLN: -10.7%)

Higher Op Mgn LTM (Value for OLN: 3.4%)

Higher CFO/Rev LTM (Value for OLN: 4.3%)

Higher FCF/Rev LTM (Value for OLN: 1.2%)

Higher Total Yield (Value for OLN: 6.1%)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Olin

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Market Price (12/27/2025): $20.89 | Market Cap: $2.4 Bil
Sector: Materials | Industry: Diversified Chemicals

Market Price (12/27/2025): $20.89
Market Cap: $2.4 Bil
Sector: Materials
Industry: Diversified Chemicals