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Olin Corp

OLN

Chemicals & Allied Products

Mkt Cap

$6.722B

PE

14.87

Debt

$2.766B

Cash

$170.3M

EV

$9.317B

FCF

$738.3M

Market Cap

$6.722B

P/E Ratio

14.87

Debt

$2.766B

Cash

$170.3M

EV

$9.317B

FCF

$738.3M
Charts data: {"Earnings":[{"time":"2014-12-30","value":105700000},{"time":"2015-12-30","value":-1400000},{"time":"2016-12-30","value":-3900000},{"time":"2017-12-30","value":549500000},{"time":"2018-12-30","value":327900000},{"time":"2019-12-30","value":-11300000},{"time":"2020-12-30","value":-969900000},{"time":"2021-12-30","value":1296700000},{"time":"2022-12-30","value":1326900000},{"time":"2023-12-30","value":452000000}],"Sales":[{"time":"2014-12-30","value":2241200000},{"time":"2015-12-30","value":2854400000},{"time":"2016-12-30","value":5550600000},{"time":"2017-12-30","value":6268400000},{"time":"2018-12-30","value":6946100000},{"time":"2019-12-30","value":6110000000},{"time":"2020-12-30","value":5758000000},{"time":"2021-12-30","value":8910600000},{"time":"2022-12-30","value":9376200000},{"time":"2023-12-30","value":6833000000}],"Net Margins":[{"time":"2014-12-30","value":0.047162234517222915},{"time":"2015-12-30","value":-0.0004904708520179372},{"time":"2016-12-30","value":-0.0007026267430548049},{"time":"2017-12-30","value":0.08766192329781125},{"time":"2018-12-30","value":0.047206346007111905},{"time":"2019-12-30","value":-0.0018494271685761047},{"time":"2020-12-30","value":-0.16844390413337965},{"time":"2021-12-30","value":0.14552330931699325},{"time":"2022-12-30","value":0.14151788571062904},{"time":"2023-12-30","value":0.06614956827162301}],"Assets":[{"time":"2014-12-30","value":2698100000},{"time":"2015-12-30","value":9321800000},{"time":"2016-12-30","value":8762600000},{"time":"2017-12-30","value":9218300000},{"time":"2018-12-30","value":8997400000},{"time":"2019-12-30","value":9187800000},{"time":"2020-12-30","value":8270900000},{"time":"2021-12-30","value":8517700000},{"time":"2022-12-30","value":8044200000},{"time":"2023-12-30","value":7713200000}],"Stockholders Equity":[{"time":"2014-12-30","value":1013300000},{"time":"2015-12-30","value":2418800000},{"time":"2016-12-30","value":2273000000},{"time":"2017-12-30","value":2753700000},{"time":"2018-12-30","value":2832200000},{"time":"2019-12-30","value":2417500000},{"time":"2020-12-30","value":1450800000},{"time":"2021-12-30","value":2652200000},{"time":"2022-12-30","value":2543600000},{"time":"2023-12-30","value":2268300000}],"ROE":[{"time":"2014-12-30","value":0.10431264186321919},{"time":"2015-12-30","value":-0.0005787994046634695},{"time":"2016-12-30","value":-0.001715794104707435},{"time":"2017-12-30","value":0.19954969677161638},{"time":"2018-12-30","value":0.11577572205352729},{"time":"2019-12-30","value":-0.004674250258531541},{"time":"2020-12-30","value":-0.6685277088502894},{"time":"2021-12-30","value":0.48891486313249377},{"time":"2022-12-30","value":0.5216622110394716},{"time":"2023-12-30","value":0.19926817440373848}],"ROA":[{"time":"2014-12-30","value":0.07538638301026648},{"time":"2015-12-30","value":0.010802634684288442},{"time":"2016-12-30","value":0.01741492251158332},{"time":"2017-12-30","value":0.03590683748630442},{"time":"2018-12-30","value":0.07523284504412386},{"time":"2019-12-30","value":0.019351749058534144},{"time":"2020-12-30","value":-0.09028038061154167},{"time":"2021-12-30","value":0.21728870469727743},{"time":"2022-12-30","value":0.2211531289624823},{"time":"2023-12-30","value":0.09232225276149977}]}

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, and chlorinated organics intermediates and solvents. The Epoxy segment provides Allylics, such as allyl chloride, epichlorohydrin, and glycerin; aromatics, including acetone, bisphenol, cumene, and phenol; liquid and solid epoxy resins; and converted epoxy resins and additives. 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.

Sector

  • BCPC Logo

    BCPC

  • CC Logo

    CC

  • FMC Logo

    FMC

  • HUN Logo

    HUN

  • IOSP Logo

    IOSP

  • NGVT Logo

    NGVT

  • PRM Logo

    PRM

Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$738.3M$959.8M$1.221B$1.52B$1.849B$2.198B$2.552B$2.892B$3.198B$3.446B$3.619B$36.19B
DCF$834.6M$923.3M$999.1M$1.057B$1.093B$1.103B$1.087B$1.045B$979.7M$894.5M$8.945B
Value$18.96B

In the chart Earnings are multiplied by this value.

Earnings Growth 39%
Earnings Stability 13%


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.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Net Margin-0.049%-0.07%8.8%4.7%-0.18%-17%15%14%6.6%6.6%
ROA1.1%1.7%3.6%7.5%1.9%-9%22%22%9.2%9.2%
ROE-0.058%-0.17%20%12%-0.47%-67%49%52%20%20%

What is the average Net Margin?

The average Net Margin over the past 5 years is +3.84%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +2.4%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +8.92%.

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

The trend of ROA over the past 5 years is +2.85%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +10.87%.

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

The trend of ROE over the past 5 years is +9.01%.


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.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Debt FCF45.0311.1210.196.1814.4232.331.801.533.753.75
Debt Equity1.601.591.311.141.382.661.051.011.221.22
MIN
Graham Stability--100%100%-3.9%-340%-100%82%-340%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 3.75.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -2.32.

What is the Graham’s Stability?

Graham’s Stability measure stands at -3.36.


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.

Years12-201612-201812-202012-2022Trend
Revenue3%-0.33%5.9%-27%-7%
Net Income-6.6%--66%-0.61%
Stockholders Equity-0.03%-4.3%16%-11%-8.5%
FCF12%7.2%83%-56%21%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is -0.33%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -6.98%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +6.63%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -0.61%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -4.34%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -8.53%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +7.16%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +20.69%.