Chemours Co

CC

Chemicals & Allied Products

Mkt Cap

$3.965B

PE

-11.98

Debt

$4.092B

Cash

$1.353B

EV

$6.704B

FCF

$4M

Market Cap

$3.965B

P/E Ratio

-11.98

Debt

$4.092B

Cash

$1.353B

EV

$6.704B

FCF

$4M

Charts data: {"Earnings":[{"time":"2014-12-30","value":400000000},{"time":"2015-12-30","value":-90000000},{"time":"2016-12-30","value":7000000},{"time":"2017-12-30","value":746000000},{"time":"2018-12-30","value":995000000},{"time":"2019-12-30","value":-52000000},{"time":"2020-12-30","value":219000000},{"time":"2021-12-30","value":608000000},{"time":"2022-12-30","value":578000000},{"time":"2023-12-30","value":-238000000}],"Sales":[{"time":"2014-12-30","value":6432000000},{"time":"2015-12-30","value":5717000000},{"time":"2016-12-30","value":5400000000},{"time":"2017-12-30","value":6183000000},{"time":"2018-12-30","value":6638000000},{"time":"2019-12-30","value":5526000000},{"time":"2020-12-30","value":4969000000},{"time":"2021-12-30","value":6345000000},{"time":"2022-12-30","value":6794000000},{"time":"2023-12-30","value":6027000000}],"Net Margins":[{"time":"2014-12-30","value":0.06218905472636816},{"time":"2015-12-30","value":-0.015742522301906595},{"time":"2016-12-30","value":0.0012962962962962963},{"time":"2017-12-30","value":0.12065340449619925},{"time":"2018-12-30","value":0.1498945465501657},{"time":"2019-12-30","value":-0.009410061527325372},{"time":"2020-12-30","value":0.044073254175890524},{"time":"2021-12-30","value":0.09582348305752561},{"time":"2022-12-30","value":0.08507506623491316},{"time":"2023-12-30","value":-0.03948896631823461}],"Assets":[{"time":"2014-12-30","value":5978000000},{"time":"2015-12-30","value":6298000000},{"time":"2016-12-30","value":6060000000},{"time":"2017-12-30","value":7293000000},{"time":"2018-12-30","value":7362000000},{"time":"2019-12-30","value":7258000000},{"time":"2020-12-30","value":7082000000},{"time":"2021-12-30","value":7550000000},{"time":"2022-12-30","value":7640000000},{"time":"2023-12-30","value":8251000000}],"Stockholders Equity":[{"time":"2014-12-30","value":3673000000},{"time":"2015-12-30","value":130000000},{"time":"2016-12-30","value":104000000},{"time":"2017-12-30","value":865000000},{"time":"2018-12-30","value":1020000000},{"time":"2019-12-30","value":695000000},{"time":"2020-12-30","value":815000000},{"time":"2021-12-30","value":1082000000},{"time":"2022-12-30","value":1107000000},{"time":"2023-12-30","value":739000000}],"ROE":[{"time":"2014-12-30","value":0.10890280424720937},{"time":"2015-12-30","value":-0.6923076923076923},{"time":"2016-12-30","value":0.0673076923076923},{"time":"2017-12-30","value":0.8624277456647399},{"time":"2018-12-30","value":0.9754901960784313},{"time":"2019-12-30","value":-0.07482014388489208},{"time":"2020-12-30","value":0.2687116564417178},{"time":"2021-12-30","value":0.5619223659889094},{"time":"2022-12-30","value":0.5221318879855466},{"time":"2023-12-30","value":-0.32205683355886333}],"ROA":[{"time":"2014-12-30","value":0.09200401472064236},{"time":"2015-12-30","value":-0.029850746268656716},{"time":"2016-12-30","value":-0.0018151815181518152},{"time":"2017-12-30","value":0.12505141916906623},{"time":"2018-12-30","value":0.15688671556642217},{"time":"2019-12-30","value":-0.017084596307522733},{"time":"2020-12-30","value":0.025275345947472466},{"time":"2021-12-30","value":0.0895364238410596},{"time":"2022-12-30","value":0.09698952879581152},{"time":"2023-12-30","value":-0.03854078293540177}]}

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging. The Thermal & Specialized Solutions segment offers of refrigerants, thermal management solutions, propellants, foam blowing agents, and specialty solvents. The Advanced Performance Materials segment products portfolio includes various industrial resins, specialty products, membranes, and coatings for consumer electronics, semiconductors, digital communications, transportation, energy, oil and gas, and medical, and other applications. The company sells its products through direct and indirect channels, as well as through a network of resellers and distributors. The Chemours Company was incorporated in 2014 and is headquartered in Wilmington, Delaware.

Sector

10-Q
9/30/23
10-Q
6/30/23
10-Q
3/31/23
10-K
12/31/22
10-Q
9/30/22
10-Q
6/30/22
10-Q
3/31/22
10-K
12/31/21
10-Q
9/30/21
10-Q
6/30/21
10-Q
3/31/21
10-K
12/31/20
10-Q
9/30/20
10-Q
6/30/20
10-Q
3/31/20
10-K
12/31/19
10-Q
9/30/19
10-Q
6/30/19
10-Q
3/31/19
10-K
12/31/18
10-Q
9/30/18
10-Q
6/30/18
10-Q
3/31/18
10-K
12/31/17

DCF

Discounted Cash Flow Valuation of Chemours Co

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$4M	$3.758M	$3.531M	$3.317M	$3.116M	$2.928M	$2.751M	$2.584M	$2.428M	$2.281M	$2.143M	$21.43M
DCF		$3.268M	$2.67M	$2.181M	$1.782M	$1.456M	$1.189M	$971.4K	$793.6K	$648.3K	$529.7K	$5.297M
Value	$20.78M

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth 24%

Earnings Stability -15%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been decreasing indicating a lower marginal ROA with respect to the calculated one, this could impede growth.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Net Margin	-1.6%	0.13%	12%	15%	-0.94%	4.4%	9.6%	8.5%	-3.9%	-5.7%
ROA	-3%	-0.18%	13%	16%	-1.7%	2.5%	9%	9.7%	-3.9%	-5.3%
ROE	-69%	6.7%	86%	98%	-7.5%	27%	56%	52%	-32%	-44%

What is the average Net Margin?

The average Net Margin over the past 5 years is +5.43%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -1.75%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +5.22%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -1.63%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +32.19%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -12.58%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

The company has high debt with respect to the cashflow it generates.

The Graham’s stability indicate a relevant drawdown, consider checking when it has occured and why.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Debt FCF	-12.03	14.09	18.32	6.28	25.62	7.56	7.01	8.20	22.23	1023.00
Debt Equity	31.18	34.67	4.83	3.95	6.23	5.01	3.52	3.31	5.60	5.43
MIN
Graham Stability	-	-	100%	100%	-8.9%	39%	100%	100%	-51%	-51%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 1023.00.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.77.

What is the Graham’s Stability?

Graham’s Stability measure stands at -0.51.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Earnings growth has not been increasing in the past years.

Years	12-2016	12-2018	12-2020	12-2022	Trend
Revenue	1.6%	-1.9%	6.6%	-11%	0.77%
Net Income	-	-	-	-	-1.5K%
Stockholders Equity	32%	-6.2%	-3.2%	-33%	-18%
FCF	-4.5%	-22%	-30%	-58%	-17%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is -1.91%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +0.77%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -1.54K%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -6.24%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -17.98%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -21.95%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -16.67%.