Element Solutions Inc (ESI)
Valor JustoFundamental
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
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.
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 · EstreitaElement 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
CíclicoElectronics 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
Generated on 18 de setembro de 2026 with claude-haiku-4-5 — shared with all users
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.
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'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.
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.
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.
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
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
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
Sinais mistos: algumas áreas requerem atenção
Qualidade dos Resultados
Alta qualidade: resultados respaldados por caixa
Diluição de Ações
A recomprar ações. Favorável ao acionista
Participações institucionais
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| Mr. Benjamin Gliklich | CEO & Director | 40 |
| Mr. Carey James Dorman | President of Enterprise Operations & CFO | 36 |
| Mr. Richard L. Fricke | President of Electronics | 53 |
| Mr. Matthew Liebowitz | President of Specialties | 36 |
| Mr. Michael Russnok | Chief Accounting Officer | 49 |
| Ms. Caroline Simonne Lind | General Counsel & Company Secretary | - |
| Ms. Claudia Iweorah | Senior VP & Head of Human Resources | - |
| Tom Hunsinger | Vice President of Assembly Solutions | - |
| Mr. Varun Gokarn | Vice 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
- Ver documento
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
via SEC EDGAR
Histórico de Resultados
via SEC EDGAR
Latest News
Recent headlines for ESI, sourced from Markets Gazette.