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Element Solutions Inc (ESI)

Valor Justo
Basic MaterialsSpecialty ChemicalsUnited States

Fundamental

56

Preço

$37.26

Capitalização de Mercado

$8.41B

Parte 1 · Quanto vale a empresa

Visão Geral

Element Solutions makes the specialty chemicals other manufacturers use as production inputs, not branded end products. Its two segments sell process chemistries: Electronics supplies the assembly, circuitry and semiconductor materials used to build printed circuit boards and chips, while Specialties supplies industrial surface finishing, automotive and offshore energy chemistries. Customers are electronics assemblers, chipmakers, automotive suppliers and industrial platers who build these chemicals into their own manufacturing lines.

Como gera receita

Revenue comes from repeat sales of proprietary chemical formulations consumed in customers' production lines, not from one-off equipment sales. Because a chemistry is qualified into a specific manufacturing process before use, switching suppliers means re-validating the whole line, which discourages customers from changing. Electronics, tied to semiconductor and AI-infrastructure build-outs, has grown fastest; Specialties, exposed to automotive and industrial cycles, was the weaker segment in 2025, which also included the divestiture of the Graphics business.

Receita por segmento

Electronics70%

Assembly, circuitry and semiconductor process chemicals used to build printed circuit boards and chips, sold mainly into consumer electronics, data-centre and automotive electronics manufacturing.

Specialties30%

Industrial surface finishing, automotive systems and offshore energy chemistries; revenue declined in 2025, partly due to the divestiture of the Graphics business.

Vantagem competitiva

Custos de mudança · Estreita

Element Solutions' chemistries are qualified into a customer's specific manufacturing process before use, and requalifying an alternative supplier's formulation means re-testing the whole production line. Legacy brands such as MacDermid Alpha and Enthone carry decades of qualification history with electronics and industrial customers, who weigh reliability and technical support alongside price when choosing a supplier.

O que impulsiona a procura

Cíclico

Electronics revenue tracks semiconductor and consumer-electronics production cycles, now lifted by AI-infrastructure and data-centre build-outs, while Specialties tracks automotive and industrial output. Both are inputs to someone else's manufacturing volume rather than steady end-consumer demand, so orders rise and fall with customers' own production schedules and capital spending.

Principais riscos

  • Raw material and currency costs — The company sources chemical raw materials globally and states that price swings in these inputs and in currency exchange rates can pressure profitability if increases cannot be passed on to customers.
  • Environmental and remediation liabilities — Element Solutions has been named a potentially responsible party under federal and state Superfund-type laws at current and former plant and waste-management sites, and accrues for environmental liabilities when they are probable and estimable.
  • Competitive, technology-driven markets — The company operates in specialty chemicals markets it describes as highly competitive and subject to rapid technological change, where a customer can qualify a rival's formulation if performance or price falls behind.

Os argumentos a favor

Buyers argue that Electronics' exposure to AI-infrastructure and data-centre build-outs supports above-market growth, that qualification-driven switching costs protect share once a chemistry is designed into a customer's line, and that the agreed merger with Solstice Advanced Materials would create a larger, more diversified platform.

Os argumentos contra

Sellers worry that Specialties remains exposed to a softer automotive and industrial cycle, that raw-material and currency swings can compress margins the company cannot fully pass through, and that the pending Solstice merger introduces integration and approval risk before any benefits arrive.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 18 de setembro de 2026 with claude-haiku-4-5 — shared with all users

P/E: 43.3Score: 75Market cap: $17.94B

Through its Atotech business MKS supplies plating and surface-finishing chemistry to both printed-circuit-board makers and general metal finishers, the two markets where Element Solutions earns most of its revenue.

Qnity Electronics, Inc.Q

Named first among Element Solutions' electronics competitors in its own 10-K, Qnity sells the same plating chemistries, IC-substrate and printed-circuit-board materials to the same board and semiconductor-packaging customers.

Henkel AG & Co. KGaAHEN3

Henkel's electronic-materials range — solder pastes, adhesives and thermal interface materials — competes head-on with Element Solutions' Alpha assembly products for the same electronics-assembly lines.

Senju Metal Industry Co., Ltd. (千住金属工業株式会社)Not tracked

This Japanese solder specialist sells solder pastes, bars and preforms to the same electronics assemblers and semiconductor packagers that buy Element Solutions' Alpha assembly materials, particularly in Asia.

C. Uyemura & Co., Ltd. (上村工業株式会社)Not tracked

Uyemura competes directly in electroless nickel and other plating chemistries for circuit boards and metal components, the core of Element Solutions' circuitry and surface-treatment lines.

Quaker Houghton (Quaker Chemical Corporation)KWR

Element Solutions names Quaker Houghton as a leading rival in its Specialties segment, where both sell process fluids and metal-treatment chemistry to industrial and automotive manufacturers.

Balanço & Liquidez

Receita

$2.80B

Últimos 12 meses (até 31/03/2026)

Resultado Líquido

$149M

Últimos 12 meses (até 31/03/2026)

Fluxo de Caixa Livre

$228M

Capital Próprio Total

$2.67B

Passivo Total

$2.41B

Rácio de Liquidez

2.68

Cobertura de Juros

6.21

Dívida/EBITDA

4.37

Resultados Por Ação

Receita & Resultado Líquido

Fluxo de Caixa Livre

Decomposição dos Resultados

Demonstração histórica

Margens ao longo do tempo

A dívida ao longo do tempo

Quanto pesa a dívida

Grelha do crescimento

Crescimento — Receitas

Estimativa de Valor Justo

CíclicaJustamente Valorizada

Valor Justo

$35.37

Preço Atual

$37.26

Margem de Segurança

-5.3%

Intervalo de Valor Justo

$23.71 - $47.03

Dispersão entre os métodos de avaliação utilizados, não um intervalo de confiança calibrado estatisticamente.

Métodos de Estimativa

Preço-alvo dos analistas:$46.73
Fluxo de caixa descontado (DCF):Não aplicável a este tipo de empresa
Multiplicador de lucros (P/E):$12.88
Fórmula de crescimento de Graham:Não aplicável a este tipo de empresa
Valor da capacidade de gerar lucro (EPV):$10.78
P/B justificado:Não aplicável a este tipo de empresa
Desconto de dividendos (Gordon):Não aplicável a este tipo de empresa
P/FFO, fundos de operações:Não aplicável a este tipo de empresa
Lucros de meio de ciclo:$28.21
Multiplicador sobre as receitas:Não aplicável a este tipo de empresa
Consenso dos Analistas:Compra Forte (11B / 2H / 0S)
Última Surpresa de Resultados:+7.90%

Métricas de Avaliação

Rácio P/E

58.60

ROE

7.1%

Rácio P/B

3.24

P/FCF

73.20

Margem Bruta

40.8%

ROIC

5.7%

Radar de Rentabilidade

Criação de Valor (Vantagem Competitiva)

ROIC

5.7%

WACC

9.7%

ROIC − WACC

-4.0 pp

O ROIC está abaixo do custo do capital — a empresa está a destruir valor a cada dólar investido.

Critérios de Análise Fundamental

Aprovado (17)

  • EPS shows upward trend
  • Price CAGR 13.72%
  • ROIC 5.7%
  • Gross Margin 40.8%
  • Debt/Equity ratio
  • Operating Margin 13.4%
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Revenue Growth 5Y 6.6%
  • Analyst Consensus 85% Buy
  • Earnings Surprise avg 4.6%
  • Earnings Quality (OCF/NI) 1.33
  • Share Dilution -0.1%
  • Piotroski F-Score 6/9

Reprovado (9)

  • P/FCF 73.20
  • P/B Ratio 3.24
  • CapEx intensity
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • ROE 6.6%
  • PEG Ratio 2.25
  • Net Margin Trend 5.3% vs 11.6%

Indisponível (1)

  • Dividend Payout NaN%

Piotroski F-Score

6/9

Sinais mistos: algumas áreas requerem atenção

score
criteria

Qualidade dos Resultados

1.33

Alta qualidade: resultados respaldados por caixa

Diluição de Ações

-0.1%

A recomprar ações. Favorável ao acionista

Participações institucionais

Governação

Equipa Executiva

NomeCargoIdade
Mr. Benjamin GliklichCEO & Director40
Mr. Carey James DormanPresident of Enterprise Operations & CFO36
Mr. Richard L. FrickePresident of Electronics53
Mr. Matthew LiebowitzPresident of Specialties36
Mr. Michael RussnokChief Accounting Officer49
Ms. Caroline Simonne LindGeneral Counsel & Company Secretary-
Ms. Claudia IweorahSenior VP & Head of Human Resources-
Tom HunsingerVice President of Assembly Solutions-
Mr. Varun GokarnVice President of Strategy & Integration-

Risco de Auditoria

9

Risco do Conselho

3

Risco de Remuneração

10

Risco dos Direitos dos Acionistas

4

Parte 2 · O preço e o momento de entrar

Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.

Documentos

  • Relatório anual (10-K)

    Uma visão anual do negócio, dos resultados financeiros e dos riscos da empresa.

    Arquivado em 2026-02-18

    Ver documento
  • Relatório trimestral (10-Q)

    Uma atualização sobre o desempenho financeiro dos últimos três meses.

    Arquivado em 2026-07-28

    Ver documento
  • Relatório de fato relevante (8-K)

    Um aviso sobre um fato relevante, como uma mudança na liderança ou um grande anúncio.

    Arquivado em 2026-08-28

    Ver documento

via SEC EDGAR

Histórico de Resultados

via SEC EDGAR

Latest News

Recent headlines for ESI, sourced from Markets Gazette.

No recent news for ESI.