Indorama Ventures Limited (INDOY)
OTHER OTC:INDOY
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Indorama Ventures
(OTC:INDOY)
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Rating:57Neutral
Price Target:
$8.50
▲(61.90% Upside)
Action:ReiteratedDate:04/08/26
The score is held back primarily by weak financial performance—multi-year losses, margin compression, and elevated/leverage that has worsened—despite positive (but declining) free cash flow. Technical indicators are a meaningful positive, showing strong recent momentum above key moving averages. Valuation is mixed: a negative P/E underscores earnings pressure, while the dividend yield offers only modest support.
Positive Factors
Vertical integration & PET/rPET leadership
Indorama’s integrated PET-to-intermediates footprint and scale across resin, rPET and feedstocks creates durable cost and supply advantages. Vertical integration supports margin capture across the chain, long-term customer ties, and resilience to isolated feedstock moves over multiple months.
Negative Factors
Elevated and rising leverage
Leverage has materially increased, reducing financial flexibility. With debt-to-equity near 2.7x, interest and principal obligations constrain capital allocation and raise refinancing risk if earnings remain weak, making balance-sheet repair a multi-month to multi-quarter challenge.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration & PET/rPET leadership
Indorama’s integrated PET-to-intermediates footprint and scale across resin, rPET and feedstocks creates durable cost and supply advantages. Vertical integration supports margin capture across the chain, long-term customer ties, and resilience to isolated feedstock moves over multiple months.
Read all positive factors
Indorama Ventures (INDOY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.18B
Dividend Yield2.7%
Average Volume (3M)0.00
Price to Earnings (P/E)―
Beta (1Y)0.23
Revenue Growth-11.38%
EPS Growth54.24%
CountryUS
Employees22,027
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)-14.40
Shares Outstanding561,455,200
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.87
Price to Sales (P/S)0.21
P/FCF Ratio5.79
Enterprise Value/Market Cap92.35
Enterprise Value/Revenue0.87
Enterprise Value/Gross Profit7.78
Enterprise Value/Ebitda12.72
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indorama Ventures Business Overview & Revenue Model
Company Description
Indorama Ventures Public Company Limited produces and distributes polyethylene terephthalate (PET), purified terephthalic acid (PTA), paraxylene, purified isophthalic acid, naphthalene dicarboxylate (NDC), integrated purified ethylene oxide and et...
How the Company Makes Money
Indorama Ventures primarily makes money by manufacturing and selling petrochemical intermediates and polymers, with revenue largely tied to volumes sold and market-linked pricing that reflects underlying feedstock costs and supply-demand condition...
Indorama Ventures Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
38
Negative
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 428.76B | 541.58B | 544.30B | 656.27B | 470.55B |
| Gross Profit | 47.78B | 75.26B | 68.26B | 114.04B | 84.98B |
| EBITDA | 23.43B | 22.18B | 29.47B | 76.32B | 63.81B |
| Net Income | -7.04B | -19.26B | -10.80B | 31.01B | 26.29B |
Balance Sheet | |||||
| Total Assets | 523.73B | 541.55B | 590.13B | 623.88B | 541.83B |
| Cash, Cash Equivalents and Short-Term Investments | 28.00B | 19.08B | 20.79B | 23.06B | 16.46B |
| Total Debt | 279.16B | 262.02B | 254.33B | 254.31B | 224.23B |
| Total Liabilities | 409.62B | 402.62B | 412.06B | 422.99B | 370.82B |
| Stockholders Equity | 102.68B | 125.95B | 164.36B | 185.99B | 158.77B |
Cash Flow | |||||
| Free Cash Flow | 15.49B | 17.52B | 26.90B | 49.42B | 10.57B |
| Operating Cash Flow | 32.64B | 35.11B | 53.13B | 77.98B | 33.77B |
| Investing Cash Flow | -25.55B | -21.88B | -25.65B | -74.16B | -25.77B |
| Financing Cash Flow | 2.52B | -14.54B | -28.91B | 1.52B | -10.89B |
Indorama Ventures Technical Analysis
Positive
5.25
Price Trends
7.09
Positive
6.24
Positive
6.36
Positive
Market Momentum
0.24
Positive
61.20
Neutral
43.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INDOY, the sentiment is Positive. The current price of 5.25 is below the 20-day moving average (MA) of 7.47, below the 50-day MA of 7.09, and below the 200-day MA of 6.36, indicating a bullish trend. The MACD of 0.24 indicates Positive momentum. The RSI at 61.20 is Neutral, neither overbought nor oversold. The STOCH value of 43.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INDOY.
Indorama Ventures Peers Comparison
UnderperformOutperform
Sector (61)
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% | |
61 Neutral | $2.62B | -10.86 | -11.76% | 8.44% | -4.74% | -149.27% | |
57 Neutral | $4.18B | -4.88 | -6.01% | 2.70% | -11.38% | 54.24% | |
52 Neutral | $6.27B | 40.99 | -23.62% | 0.29% | -5.63% | 34.29% | |
52 Neutral | $26.57B | -16.88 | -16.73% | 9.17% | -7.74% | -1093.11% | |
47 Neutral | $1.41B | -3,767.83 | -29.85% | 8.27% | -4.02% | -206.93% | |
43 Neutral | $1.32B | -0.15 | 142.56% | ― | -12.21% | 10.85% |
* Basic Materials Sector Average
INDOY
Indorama Ventures
7.45
1.43
23.64%
CE
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57.17
2.76
5.08%
BAK
Braskem SA
3.69
-0.10
-2.64%
HUN
Huntsman
14.96
2.78
22.83%
TROX
TRONOX
8.82
3.39
62.55%
DOW
Dow Inc
36.87
7.85
27.07%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.