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Celanese Corp

CE

Plastic Material, Synth Resin/Rubber, Cellulos (No Glass)

Mkt Cap

$16.16B

PE

7.96

Debt

$14.84B

Cash

$1.357B

EV

$29.64B

FCF

$1.027B

Market Cap

$16.16B

P/E Ratio

7.96

Debt

$14.84B

Cash

$1.357B

EV

$29.64B

FCF

$1.027B
Charts data: {"Earnings":[{"time":"2014-12-30","value":620000000},{"time":"2015-12-30","value":285000000},{"time":"2016-12-30","value":900000000},{"time":"2017-12-30","value":843000000},{"time":"2018-12-30","value":1207000000},{"time":"2019-12-30","value":852000000},{"time":"2020-12-30","value":1985000000},{"time":"2021-12-30","value":1890000000},{"time":"2022-12-30","value":1894000000}],"Sales":[{"time":"2014-12-30","value":6802000000},{"time":"2015-12-30","value":5674000000},{"time":"2016-12-30","value":5389000000},{"time":"2017-12-30","value":6140000000},{"time":"2018-12-30","value":7155000000},{"time":"2019-12-30","value":6297000000},{"time":"2020-12-30","value":5655000000},{"time":"2021-12-30","value":8537000000},{"time":"2022-12-30","value":9673000000}],"Net Margins":[{"time":"2014-12-30","value":0.0911496618641576},{"time":"2015-12-30","value":0.05022911526260134},{"time":"2016-12-30","value":0.16700686583781776},{"time":"2017-12-30","value":0.13729641693811076},{"time":"2018-12-30","value":0.1686932215234102},{"time":"2019-12-30","value":0.13530252501191042},{"time":"2020-12-30","value":0.3510167992926614},{"time":"2021-12-30","value":0.22138924680801217},{"time":"2022-12-30","value":0.1958027499224646}],"Assets":[{"time":"2014-12-30","value":8818000000},{"time":"2015-12-30","value":8586000000},{"time":"2016-12-30","value":8357000000},{"time":"2017-12-30","value":9538000000},{"time":"2018-12-30","value":9313000000},{"time":"2019-12-30","value":9476000000},{"time":"2020-12-30","value":10909000000},{"time":"2021-12-30","value":11975000000},{"time":"2022-12-30","value":26272000000}],"Stockholders Equity":[{"time":"2014-12-30","value":3078000000},{"time":"2015-12-30","value":2829000000},{"time":"2016-12-30","value":3021000000},{"time":"2017-12-30","value":3299000000},{"time":"2018-12-30","value":3379000000},{"time":"2019-12-30","value":2898000000},{"time":"2020-12-30","value":3895000000},{"time":"2021-12-30","value":4537000000},{"time":"2022-12-30","value":6105000000}],"ROE":[{"time":"2014-12-30","value":0.2014294996751137},{"time":"2015-12-30","value":0.1007423117709438},{"time":"2016-12-30","value":0.29791459781529295},{"time":"2017-12-30","value":0.25553197938769323},{"time":"2018-12-30","value":0.3572062740455756},{"time":"2019-12-30","value":0.2939958592132505},{"time":"2020-12-30","value":0.5096277278562259},{"time":"2021-12-30","value":0.41657482918227906},{"time":"2022-12-30","value":0.31023751023751023}],"ROA":[{"time":"2014-12-30","value":0.10671354048537084},{"time":"2015-12-30","value":0.05683671092476124},{"time":"2016-12-30","value":0.12324997008495872},{"time":"2017-12-30","value":0.11270706647095827},{"time":"2018-12-30","value":0.16213894555996994},{"time":"2019-12-30","value":0.10426340227944281},{"time":"2020-12-30","value":0.20634338619488496},{"time":"2021-12-30","value":0.18772442588726512},{"time":"2022-12-30","value":0.05408800243605359}]}

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics. It also offers acesulfame potassium for the food and beverage industry, and food protection ingredients, such as potassium sorbate and sorbic acid. The Acetyl Chain segment produces and supplies acetyl products, including acetic acid, vinyl acetate monomers, acetic anhydride, and acetate esters that are used as starting materials for colorants, paints, adhesives, coatings, and pharmaceuticals; and organic solvents and intermediates for pharmaceutical, agricultural, and chemical products. It also offers vinyl acetate-based emulsions for use in paints and coatings, adhesives, construction, glass fiber, textiles, and paper applications; and ethylene vinyl acetate resins and compounds, as well as low-density polyethylene for use in flexible packaging films, lamination film products, hot melt adhesives, automotive parts, and carpeting applications. In addition, it manufactures ultra-high molecular weight polyethylene. Celanese Corporation was founded in 1918 and is headquartered in Irving, Texas.

Sector

    Growth

    %

    %

    Discount

    %

    %

    Multiple

    g\r+10%+11%+12%+13%+14%
    0%109887
    +1%1110988
    +2%13111098
    +3%141311109
    +4%1714121110
    Years012345678910TV
    FCF$1.027B$1.141B$1.259B$1.382B$1.507B$1.633B$1.759B$1.883B$2.002B$2.116B$2.222B$22.22B
    DCF$992M$952.3M$908.6M$861.6M$812M$760.5M$707.7M$654.5M$601.4M$549.1M$5.491B
    Value$13.29B

    In the chart Earnings are multiplied by this value.

    Earnings Growth 20%
    Earnings Stability 62%


    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.

    Years12-201412-201512-201612-201712-201812-201912-202012-202112-2022TTM
    Net Margin9.1%5%17%14%17%14%35%22%20%19%
    ROA11%5.7%12%11%16%10%21%19%5.4%5.3%
    ROE20%10%30%26%36%29%51%42%31%29%

    What is the average Net Margin?

    The average Net Margin over the past 5 years is +20.16%.

    What is the trend of Net Margin?

    The trend of Net Margin over the past 5 years is +1.9%.

    What is the average Return on Assets (ROA)?

    The average ROA over the past 5 years is +13.79%.

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

    The trend of ROA over the past 5 years is -0.33%.

    What is the average Return on Equity (ROE)?

    The average ROE over the past 5 years is +35.72%.

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

    The trend of ROE over the past 5 years is +1.91%.


    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.

    Years12-201412-201512-201612-201712-201812-201912-202012-202112-2022TTM
    Debt FCF-5.324.726.953.213.644.263.5011.9614.45
    Debt Equity0.901.081.011.131.161.361.070.992.502.14
    MIN
    Graham Stability---100%100%87%100%100%100%87%

    What is the Debt/FCF?

    The Debt/FCF trailing twelve month is 14.45.

    What is the trend of Debt/FCF?

    The trend of Debt/FCF over the past 5 years is 0.76.

    What is the Graham’s Stability?

    Graham’s Stability measure stands at 0.87.


    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.

    Years12-201512-201712-201912-2021Trend
    Revenue7.9%9.5%15%13%4.6%
    Net Income31%18%31%0.21%-4.5%
    Stockholders Equity12%13%28%35%4.8%
    FCF12%19%5.6%-1.1%-0.9%

    What is the 5 year Revenue CAGR?

    The Revenue CAGR over the past 5 years is +9.52%.

    What is the trend of Revenue growth?

    The trend of Revenue growth rate over the past 5 years is +4.62%.

    What is the 5 year Earnings CAGR?

    The Earnings CAGR over the past 5 years is +17.57%.

    What is the trend of Earnings growth?

    The trend of Earnings growth rate over the past 5 years is -4.5%.

    What is the 5 year Equity CAGR?

    The Equity CAGR over the past 5 years is +13.1%.

    What is the trend of Equity growth?

    The trend of Equity growth rate over the past 5 years is +4.83%.

    What is the 5 year FCF CAGR?

    The FCF CAGR over the past 5 years is +18.94%.

    What is the trend of FCF growth?

    The trend of FCF growth rate over the past 5 years is -0.9%.