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Braskem SA
(NYSE:BAK)
Braskem SA (BAK) vs. SPDR S&P 500 ETF (SPY)
Braskem SA Business Overview & Revenue Model
Braskem SA Earnings Call Summary
Braskem SA Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 73.77B | 77.41B | 70.57B | 96.52B | 105.63B | 58.54B |
| Gross Profit | 3.25B | 6.00B | 3.02B | 11.36B | 32.06B | 11.10B |
| EBITDA | 3.54B | 2.70B | 3.26B | 8.11B | 25.33B | 10.16B |
| Net Income | -5.24B | -11.32B | -4.58B | -336.00M | 13.98B | -6.69B |
Balance Sheet | ||||||
| Total Assets | ― | 101.58B | 91.74B | 88.05B | 92.56B | 16.57B |
| Cash, Cash Equivalents and Short-Term Investments | ― | 16.77B | 19.14B | 14.76B | 12.17B | 3.37B |
| Total Debt | ― | 73.72B | 59.91B | 53.83B | 54.21B | 11.64B |
| Total Liabilities | ― | 105.85B | 88.46B | 81.94B | 86.36B | 17.32B |
| Stockholders Equity | ― | -4.78B | 3.99B | 7.32B | 7.87B | -423.99M |
Cash Flow | ||||||
| Free Cash Flow | -6.08B | -1.33B | -6.80B | 4.10B | 11.37B | 3.53B |
| Operating Cash Flow | -2.48B | 2.44B | -2.27B | 8.95B | 14.79B | 6.29B |
| Investing Cash Flow | -3.35B | -3.48B | -4.53B | -4.95B | -3.38B | -2.72B |
| Financing Cash Flow | 424.00M | 469.00M | 8.87B | 225.00M | -16.97B | 2.17B |
Braskem SA Technical Analysis
Braskem SA Risk Analysis
Braskem SA Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | $443.53M | 8.59 | 6.62% | 3.81% | -5.05% | 35.01% | |
57 Neutral | $5.13B | -1.63 | -54.74% | 0.29% | -7.34% | -382.79% | |
56 Neutral | $1.98B | -6.28 | -10.65% | 8.44% | -3.46% | -191.77% | |
49 Neutral | $1.03B | -3.19 | -18.65% | 8.27% | -7.81% | -334.15% | |
49 Neutral | $19.77B | -17.19 | -6.39% | 9.17% | -5.25% | -208.14% | |
47 Neutral | $1.51B | -1.66 | ― | ― | -10.68% | 36.31% |
Braskem SA Corporate Events
On January 21, 2026, Braskem S.A. reported that Brazilian lawyer and individual investor Victor Adler had built a relevant equity position in the company, acquiring 24,000 class B preferred shares on the stock exchange by January 16, 2026. The stake represents 5.013% of Braskem’s total outstanding class B preferred shares and is described as a purely investment-driven holding, signaling increased interest from individual investors in the company’s preferred equity but without any stated intention to alter corporate control or governance.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On January 14, 2026, Braskem S.A. announced that its Annual General Meeting is scheduled for April 29, 2026, in line with the company’s annual corporate events calendar. The company stated that detailed participation guidelines and the official call materials will be provided to shareholders within the legally required timeframe, underscoring its adherence to Brazilian securities regulations and offering investors clear visibility on its upcoming corporate governance agenda.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
In April 2025, Braskem approved and issued an updated Code of Conduct that formalizes the company’s commitments to ethics, integrity, transparency and sustainable development in all of its operations and stakeholder relationships. The document sets out conduct standards and responsibilities for directors, advisors, leaders, team members and third parties, including zero tolerance for corruption, requirements to comply with applicable laws and internal policies, and obligations to report potential violations in good faith via leaders, the compliance function or the ethics channel. It also reinforces Braskem’s focus on health, safety, environmental protection, non-discrimination and fair competition, while embedding sustainability principles such as economic growth aligned with environmental preservation and social justice, aiming to strengthen its governance framework, protect its reputation and enhance compliance across its entire value chain.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On January 1, 2026, Braskem S.A. entered into a related-party utilities supply agreement with Distribuidora de Águas Camaçari S.A. (DAC), a company controlled by Cetrel S.A., over which Braskem has significant influence. Under the contract, Braskem will supply electric power, steam, service air, instrument air and clarified water from its plant in Camaçari, Bahia, to DAC through December 31, 2030, with contractual volumes set for each utility and a total contract value of up to R$97 million. Braskem stated that the pricing reflects market conditions and positive margins for the company, and emphasized that DAC and its managers did not take part in Braskem’s internal decision-making process, underscoring corporate governance and compliance considerations around related-party transactions that are material to its long-term industrial operations in the Camaçari complex.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On January 12, 2026, Braskem disclosed that its subsidiary Braskem Idesa had, since December 18, 2025, shared non‑public information with certain holders and managers of its 7.450% Senior Secured Notes due 2029 and 6.990% Senior Secured Notes due 2032 under confidentiality agreements, in the context of exploring a possible restructuring of Braskem Idesa’s capital structure. The company has now made the material “Shared Information” publicly available on its and Braskem Idesa’s websites, including discussion materials and competing restructuring term sheets exchanged with investors, while stressing that no agreement has been reached, Braskem Idesa has rejected the investors’ January 6, 2026 proposal, and that the long‑term operational and financial projections contained in the materials are hypothetical, negotiation‑specific and should not be treated as guidance, a stance that leaves bondholders and other stakeholders facing continued uncertainty over the eventual form and timing of any restructuring.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
In a Form 6-K filed on January 8, 2026, Braskem S.A. reported its dealings in its own securities for December 2025 under Brazilian securities regulation requirements. The company disclosed that the only transactions in the month involved its Class “A” preferred shares and that no other operations with securities or derivatives beyond those reported were conducted, while also detailing the balance of treasury-held shares, providing transparency to investors and regulators regarding its share repurchase and treasury-share position.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
In a Form 6-K filed on January 8, 2026, Braskem S.A. reported December 2025 information on the shareholdings and trading activity of its management, fiscal council, technical or advisory bodies, and related parties in securities issued by the company, as required under Brazilian CVM Instruction 358/2002. The disclosure details opening and closing balances in common and class “A” preferred shares, as well as American Depositary Receipts, and indicates that, for several groups and periods reviewed, no transactions in Braskem securities or derivatives were carried out in December 2025. This update provides investors with transparency into insider and related-party positions and trading behavior, reinforcing governance and compliance practices at a time when regulatory scrutiny of insider activity remains high in both Brazilian and international capital markets.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 30, 2025, Braskem S.A. announced that Fitch Ratings downgraded the company’s global corporate credit rating to CC, signaling elevated credit risk amid a prolonged downturn in the global petrochemical industry. In response, Braskem emphasized its ongoing resilience and transformation initiatives aimed at mitigating the severe effects of this sector-wide slump and at reinforcing the competitiveness of Brazil’s chemical industry, a stance intended to reassure shareholders and other stakeholders about the company’s strategic focus under challenging market conditions.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 18, 2025, Braskem S.A. entered into a series of long‑term related‑party contracts with major shareholder and supplier Petrobras to secure petrochemical naphtha and storage capacity for its main Brazilian petrochemical complexes from January 1, 2026, through December 31, 2030. The agreements cover annual naphtha purchases ranging from 1.5 million to 1.7 million tons for the São Paulo complex, 280,000 to 2,016,000 tons via maritime transport for the Bahia and Rio Grande do Sul complexes, and rising volumes of 100,000 to 300,000 tons per year via the REFAP refinery for the Rio Grande do Sul plant, plus dedicated and progressively reduced storage space at REFAP tanks over the contract period, all priced on international benchmarks. Braskem’s management emphasized that the terms reflect market-based pricing, and the company noted that Petrobras and its management did not participate in Braskem’s internal decision-making on the deals, signaling an effort to demonstrate arm’s-length conditions in a material related-party transaction that underpins the security and predictability of feedstock supply for Braskem’s Brazilian operations over the next five years.
The most recent analyst rating on (BAK) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 22, 2025, Braskem S.A. disclosed that Brazil has enacted Law No. 15,294/25 creating the Special Sustainability Program for the Chemical Industry (PRESIQ), an incentive framework designed to support the domestic chemical sector from January 1, 2027 through December 31, 2031 via benefits tied to the purchase of certain chemical inputs and to investments in capacity expansion or modernization. The company also noted that, for 2026, the existing Special Regime for the Chemical Industry (REIQ) will maintain its current 0.73% rate, signaling continuity in near-term tax treatment and laying the groundwork for a more supportive fiscal and industrial policy environment that could bolster Braskem’s investment planning, competitiveness and long-term positioning within Brazil’s chemical value chain.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 18, 2025, Braskem S.A. announced that it has signed a series of long‑term feedstock supply contracts with Petróleo Brasileiro S.A. – Petrobras, securing key raw materials for its Brazilian industrial complexes from 2026 onward. The agreements cover five‑year naphtha supply for plants in São Paulo, Bahia and Rio Grande do Sul with volumes rising to 4.116 million tons in 2026 and 4.316 million tons by 2030, an 11‑year contract for ethane, propane and hydrogen in Rio de Janeiro tied to international natural gas and propane benchmarks to support both existing operations from 2026–2028 and an expansion of the Rio de Janeiro petrochemical complex from 2029–2036, and five‑year propylene contracts starting May 18, 2026 from several Petrobras refineries with specified annual volumes. These deals strengthen Braskem’s feedstock security and cost visibility, underpin its planned capacity expansion in Rio de Janeiro, and reinforce its operational integration with Petrobras, with implications for long‑term competitiveness and supply reliability for downstream industrial customers.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 15, 2025, Braskem S.A. announced that it received communications from Novonor S.A. and Shine I Fundo de Investimento em Direitos Creditórios regarding a definitive binding agreement and an exclusivity agreement. The agreements involve the acquisition of credits held by creditor banks against Novonor, secured by shares in Braskem. The potential transaction could result in an investment fund advised by IG4 Sol. Ltda. acquiring a significant portion of Braskem’s voting and total capital, while Novonor retains a minor stake. This development could impact Braskem’s ownership structure and influence its strategic direction.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 10, 2025, Braskem S.A. released its annual calendar of corporate events for 2026, detailing key dates for financial disclosures and shareholder meetings. The announcement outlines the schedule for the release of financial statements, governance reports, and the annual shareholders’ meeting, which are crucial for maintaining transparency and engaging with stakeholders. This structured timeline is expected to enhance investor relations and provide clarity on the company’s operational plans for the upcoming year.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 9, 2025, Braskem S.A. filed a report with the SEC, signed by CFO Felipe Montoro Jens, addressing the potential impacts of a geological event in Alagoas and the ongoing COVID-19 pandemic on its operations. The report highlights the company’s forward-looking statements, emphasizing the uncertainties and risks that could affect its financial condition and operating results, which are influenced by external economic and market conditions.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 9, 2025, Braskem S.A. filed a Form 6-K with the SEC, signed by CFO Felipe Montoro Jens. The report includes forward-looking statements concerning potential impacts of a geological event in Alagoas and ongoing legal proceedings, as well as the effects of the COVID-19 pandemic on the company’s operations and financial condition. This filing highlights the company’s proactive approach in addressing uncertainties and risks that could influence its future performance and stakeholder interests.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On December 3, 2025, Braskem S.A. addressed media reports about its potential sale, clarifying that it is not engaged in any negotiations for its sale. The company sought clarification from its shareholders, with Novonor S.A. confirming ongoing negotiations with IG4 Solutions LLC for an exclusivity agreement, though no binding documents have been signed. Petrobras, another shareholder, stated it is not involved in these negotiations and is still considering its options regarding its stake in Braskem. The announcement aims to inform stakeholders and maintain transparency in compliance with legal requirements.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On November 18, 2025, Braskem S.A. announced a significant transaction involving the sale of gasoil to Refinaria de Petróleo Riograndense S.A. (RPR), amounting to R$398 million. This transaction, which aligns with international market prices, underscores Braskem’s strategic operations in the petrochemical sector and its collaborative relationship with RPR, Petrobras, and Ultrapar Participações S.A. The deal highlights Braskem’s ability to leverage market opportunities without pre-established contractual limits, potentially strengthening its market position and stakeholder relations.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On November 19, 2025, Braskem S.A. announced that its subsidiary, Braskem Idesa, failed to make a scheduled interest payment on its Senior Secured Notes due 2029, which have an outstanding principal of $900 million. The company is actively engaged in discussions with bondholders to restructure its capital and maintain operations, highlighting ongoing efforts to stabilize its financial position.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On November 13, 2025, Braskem S.A. held an Extraordinary General Meeting to address several key governance changes. The meeting resulted in the election of Lucas Cive Barbosa as a new member of the Board of Directors, replacing Roberto Faldini. Additionally, the meeting included amendments to the company’s bylaws to better align with current operations and governance practices, such as updating approval thresholds and detailing election procedures for the Board of Directors. These changes are expected to enhance the company’s operational efficiency and governance structure, potentially impacting its market positioning and stakeholder relations.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On November 13, 2025, Braskem S.A. held an Extraordinary General Meeting where several key resolutions were approved. These included the replacement of a board member, amendments to the company’s bylaws to align with current activities, and the inclusion of new procedures for electing the Board of Directors. These changes are expected to streamline governance and reflect the company’s evolving operational focus, potentially impacting its strategic direction and stakeholder engagement.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On November 13, 2025, Braskem S.A. held an Extraordinary General Meeting where shareholders voted on the replacement of a board member appointed by Novonor S.A. and NSP Investimentos S.A., both under judicial reorganization. The detailed voting results were disclosed, reflecting the shareholders’ decisions on this governance matter, which is crucial for the company’s leadership continuity and strategic direction.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
Braskem S.A. has outlined its company bylaws and capital structure, emphasizing its strategic focus on expanding its operations in the chemical and petrochemical sectors. The company is authorized to increase its capital stock, reflecting its growth ambitions and commitment to enhancing shareholder value. The bylaws also highlight the company’s flexibility in modifying the proportion of preferred shares and its commitment to maintaining shareholder rights in the event of a change in control.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On November 13, 2025, Braskem S.A. held an Extraordinary General Meeting to address several key resolutions, including the replacement of a board member, amendments to the company’s bylaws, and the consolidation of these bylaws. The meeting’s outcomes are significant for the company’s governance and operational alignment, reflecting a strategic move to enhance corporate structure and decision-making processes, which could impact stakeholders and market perception.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On November 11, 2025, Braskem S.A. held its earnings conference call for the third quarter of 2025. The company reported a recurring EBITDA of $150 million, marking a 104% increase from the previous quarter, despite a challenging petrochemical downcycle. The global macroeconomic environment remains volatile, impacting demand and market spreads. Braskem’s performance was bolstered by strategic sales prioritization and resilience initiatives, although the company continues to face challenges due to market conditions and legal proceedings related to Alagoas.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On November 11, 2025, Braskem S.A. addressed a request for clarification from the Securities and Exchange Commission of Brazil regarding news about its parent company, Novonor, negotiating the sale of its majority stake to IG4 Capital. Braskem clarified that it is not involved in these negotiations and has no knowledge of the developments, as Novonor has not reported any material progress in discussions. The potential sale could lead to IG4 Capital and Petrobras sharing control of Braskem, pending approval from the Brazilian antitrust body, Cade.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
Braskem S.A. released its interim financial information for the quarter ended September 30, 2025, reviewed by KPMG Auditores Independentes Ltda. The review concluded that the financial statements were prepared in accordance with applicable standards without any significant issues. The report indicates a decrease in both current and non-current assets compared to the previous year, reflecting changes in cash, financial investments, and trade accounts receivable. Additionally, there was a noted reduction in liabilities, including trade payables and borrowings, which could impact the company’s financial strategies and stakeholder interests.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
In the third quarter of 2025, Braskem S.A. reported a recurring EBITDA of US$150 million, marking a 104% increase from the previous quarter. The petrochemical industry faced challenges due to global supply-demand imbalances, affecting international market prices. In Brazil/South America, the company saw a 35% rise in recurring EBITDA to US$205 million, despite a 5% drop in resin sales. The United States and Europe segment experienced a negative recurring EBITDA of US$15 million, while in Mexico, operations were impacted by a major maintenance shutdown. The company’s corporate gross debt stood at approximately US$8.4 billion, with a cash position of US$1.3 billion.
The most recent analyst rating on (BAK) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
In October 2025, Braskem S.A. reported its activities related to securities and derivatives, complying with regulatory requirements. The company disclosed its operations involving shares held in treasury, specifically focusing on Class ‘A’ Preferred Shares. This disclosure is part of Braskem’s commitment to transparency and regulatory compliance, which could impact its financial reporting and stakeholder relations.
The most recent analyst rating on (BAK) stock is a Sell with a $2.50 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
In October 2025, Braskem S.A. reported on transactions involving securities and derivatives, as per regulatory requirements. The report indicated that no significant transactions were executed by management or related persons during this period, which may suggest stability in its financial operations. This announcement provides stakeholders with insights into the company’s current financial dealings and compliance with regulatory standards.
The most recent analyst rating on (BAK) stock is a Sell with a $2.50 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
On October 30, 2025, Braskem S.A. addressed a public civil action filed by the Public Defender’s Office of Alagoas and the Unified Movement of Braskem Victims. The action demands the evacuation of two neighborhoods in Maceió due to soil subsidence linked to mining activities and requests compensation of R$1.7 billion. Braskem has not yet been formally cited in the action but plans to evaluate and respond within legal deadlines. This development could significantly impact Braskem’s operations and financial obligations, highlighting ongoing environmental and legal challenges the company faces.
The most recent analyst rating on (BAK) stock is a Sell with a $2.50 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.
In the third quarter of 2025, Braskem S.A. faced a challenging global economic environment with volatile conditions impacting chemical and petrochemical spreads. The company reported lower resin prices in Brazil/South America, affecting profitability, although this was partially offset by strategic measures like anti-dumping duties on PE. In the United States and Europe, operational normalization led to higher utilization rates, but sales volumes declined due to reduced demand. In Mexico, a scheduled maintenance shutdown at the Braskem Idesa plant affected utilization rates and sales volumes, though the commencement of ethane supply from Puerto Química México Terminal marked a positive development. Overall, the quarter was marked by strategic adjustments to maintain stability amidst fluctuating market conditions.
The most recent analyst rating on (BAK) stock is a Sell with a $2.50 price target. To see the full list of analyst forecasts on Braskem SA stock, see the BAK Stock Forecast page.