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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 | 87.38B | 101.58B | 91.74B | 88.05B | 92.56B | 16.57B |
| Cash, Cash Equivalents and Short-Term Investments | 7.41B | 16.77B | 19.14B | 14.76B | 12.17B | 3.37B |
| Total Debt | 63.24B | 73.72B | 59.91B | 53.83B | 54.21B | 11.64B |
| Total Liabilities | 90.56B | 105.85B | 88.46B | 81.94B | 86.36B | 17.32B |
| Stockholders Equity | -3.53B | -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% | |
54 Neutral | $1.75B | ― | -10.65% | 13.48% | -3.46% | -191.77% | |
53 Neutral | $4.43B | ― | -54.74% | 0.30% | -7.34% | -382.79% | |
53 Neutral | $405.38M | 7.85 | 6.62% | 4.24% | -5.05% | 35.01% | |
49 Neutral | $16.99B | ― | -6.39% | 8.78% | -5.25% | -208.14% | |
47 Neutral | $1.15B | ― | ― | ― | -10.68% | 36.31% | |
46 Neutral | $629.45M | ― | -18.65% | 8.82% | -7.81% | -334.15% |
Braskem SA Corporate Events
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
On October 24, 2025, Braskem S.A. announced that its Board of Directors approved a substantial investment to expand the ethane base capacity of its Rio de Janeiro petrochemical plant, aiming to increase ethylene production by 220 thousand tons annually. This project, valued at approximately R$4.2 billion, is part of Braskem’s broader Transformation Plan to enhance competitiveness by integrating more gas into its feedstock matrix. The completion of this project by the end of 2028 is contingent upon securing additional financing and finalizing a long-term ethane supply contract with Petrobras.
On October 21, 2025, Braskem S.A. addressed a request from the Brazilian Securities and Exchange Commission for clarification regarding a news report about a complaint filed against the company by the Federal Public Ministry of Alagoas. The complaint, related to the exploration of rock salt in Maceió, was reported on October 19, 2025. Braskem stated that it became aware of the complaint on October 16, 2025, but has not yet accessed its content due to judicial secrecy. The company has been updating stakeholders on the ongoing Federal Police investigation in Alagoas through its financial statements, indicating its commitment to transparency.
Braskem S.A. has announced an Extraordinary General Meeting to be held on November 13, 2025, with the agenda focusing on the replacement of a board member, amendments to the company’s bylaws, and the consolidation of these amendments. The meeting will be conducted digitally, allowing shareholders to participate via a digital platform or remote voting. These changes aim to align the company’s governance with its current operational realities and streamline decision-making processes, potentially impacting its strategic direction and stakeholder engagement.
Braskem S.A. has announced an Extraordinary General Meeting scheduled for November 13, 2025, to address several key governance issues. The agenda includes the replacement of a board member, amendments to the company’s bylaws, and the consolidation of these bylaws to reflect recent changes. This meeting underscores Braskem’s commitment to enhancing its corporate governance practices and may have implications for its strategic direction and stakeholder engagement.
Braskem S.A. announced an upcoming Extraordinary General Meeting scheduled for November 13, 2025, where shareholders will address several key proposals. These include the replacement of a board member, amendments to the company’s bylaws to align with current operations, and updates to the election process for the Board of Directors. The meeting will be held digitally, allowing shareholders to participate remotely. These changes aim to enhance governance and operational efficiency, potentially impacting Braskem’s strategic direction and stakeholder engagement.
Braskem S.A. has announced the procedures for shareholders to participate in its upcoming Extraordinary General Meeting (EGM) scheduled for November 13, 2025. The company is facilitating remote voting through a distance voting ballot, which must be submitted by November 9, 2025, to be considered valid. This initiative underscores Braskem’s commitment to enhancing shareholder engagement and ensuring broad participation in corporate governance matters.
In September 2025, Braskem S.A. reported its securities and derivatives operations, indicating no new activities beyond those required by regulatory compliance. The report highlights the company’s adherence to financial regulations, reflecting its commitment to transparency and accountability in its financial operations.
In September 2025, Braskem S.A. reported no transactions involving securities and derivatives by its management and related persons, as per Article 11 of CVM Instruction #358/2002. This announcement indicates a stable period in the company’s trading activities, potentially reflecting a steady operational phase or strategic decision-making by the management.
On October 7, 2025, Braskem S.A. addressed a request from the Securities and Exchange Commission of Brazil for clarification regarding a news report about a potential takeover by creditor banks and Petrobras. Braskem clarified that it is not involved in any negotiations concerning the sale of controlling interest and is unaware of the reported information, with both Novonor and Petrobras denying involvement in such discussions.
On October 3, 2025, Braskem S.A. announced the withdrawal of a US$1.0 billion stand-by credit facility, increasing its available cash to US$2.3 billion. This move aligns with Braskem’s conservative cash management strategy and aims to mitigate the impacts of a prolonged industry downturn, reinforcing its commitment to stakeholders and enhancing its market position.
On October 1, 2025, Braskem S.A. announced that the Administrative Council for Economic Defense (CADE) has approved the Concentration Act No. 08700.006808/2025-81, submitted by NSP Investimentos S.A. and Petroquímica Verde Fundo de Investimento em Participações. This approval, which was unanimous and without restrictions, marks a significant step in the ongoing negotiations between the involved parties. Braskem has committed to keeping the market informed of any further developments, highlighting the potential impact on its operations and strategic positioning within the industry.
On September 29, 2025, Braskem S.A. announced that its corporate credit ratings were downgraded by Fitch Ratings and S&P Global Ratings to CCC+ and CCC- with a negative outlook, respectively. This development underscores the challenges Braskem faces amid a prolonged global downturn in the chemical industry. The company remains committed to implementing resilience and transformation initiatives to mitigate these impacts and strengthen its market position.
On September 26, 2025, Braskem S.A. announced that it has engaged financial and legal advisors to explore economic-financial alternatives aimed at optimizing its capital structure. This initiative is part of the company’s efforts to address the challenges posed by a prolonged industry downturn and to reinforce its commitment to stakeholders by implementing transformation initiatives to strengthen its market position.
On September 19, 2025, Braskem S.A. announced that S&P Global Ratings has downgraded its global corporate credit rating to B+ with a negative outlook. The company is actively working on resilience initiatives to counteract the prolonged downturn in the petrochemical industry cycle, aiming to bolster the competitiveness of the Brazilian chemical sector.
In August 2025, Braskem S.A. reported no transactions involving securities and derivatives executed by management and related persons, as per Article 11 of CVM Instruction #358/2002. This disclosure is part of the company’s ongoing compliance with regulatory requirements, reflecting transparency in its financial activities and potentially impacting stakeholder confidence.
In August 2025, Braskem S.A. reported on its operations involving securities and derivatives, adhering to regulatory requirements. The company disclosed its holdings and trading activities, which reflect its compliance with financial regulations and its ongoing efforts to maintain transparency with stakeholders.
On September 8, 2025, Braskem S.A. announced that its subsidiary, Braskem Idesa, has engaged financial and legal advisors to review its capital structure and liquidity conditions. This move is part of Braskem Idesa’s strategy to address macroeconomic uncertainties, commodity price volatility, and increased input costs, aiming to preserve liquidity and improve overall results.
On August 19, 2025, Braskem S.A. entered into a related-party transaction with Refinaria de Petróleo Riograndense S.A. (RPR) for the purchase of petrochemical naphtha, valued at approximately R$270 million. This agreement, effective from September to December 2025, involves spot-based purchases with prices referenced to international standards, highlighting Braskem’s strategic procurement approach and its potential impact on operational efficiency.
On August 28, 2025, Braskem S.A. announced that it is exploring various options to address challenges related to the capital structure of its joint venture, Braskem Idesa, due to external factors impacting the global petrochemical industry. The company has committed to keeping the market informed of any significant developments, which may have implications for its operations and stakeholders.
On August 27, 2025, Braskem S.A. announced that the Ministry of Development, Industry, Commerce and Services approved provisional anti-dumping duties on polyethylene resin imports from the United States and Canada. This decision, effective upon publication in the Federal Official Gazette, is expected to last up to six months, potentially impacting Braskem’s market positioning by reducing competition from these imports.
On August 27, 2025, Braskem S.A. addressed a request for clarification from the Securities and Exchange Commission of Brazil regarding news about the withdrawal of businessman Nelson Tanure from negotiations to take control of the company. Despite the expiration of a 90-day exclusivity period with Petroquímica Verde Investment Fund, Braskem continues discussions about divestment with Novonor. The company confirmed that no new material facts have emerged to alter previous disclosures, maintaining its current strategic direction.
On August 22, 2025, Braskem S.A. announced that Novonor S.A. is continuing discussions with Petroquímica Verde Fundo de Investimentos regarding the divestment of its stake in Braskem, despite the expiration of a 90-day exclusivity period. This ongoing negotiation could impact Braskem’s ownership structure and market positioning, with potential implications for shareholders and stakeholders.