Orion SA (OEC)
NYSE:OEC
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Orion SA
(NYSE:OEC)
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Rating:56Neutral
Price Target:
$8.50
▲(22.48% Upside)
Action:Reiterated
Date:06/01/26
The score is held back primarily by weakened financial performance (recent losses and margin compression) and mixed earnings-call signals (raised EBITDA guidance but expected near-term cash outflows and Rubber weakness). Technicals are supportive with price above key moving averages and positive momentum indicators, while valuation is constrained by a negative P/E despite a modest dividend yield.
Positive Factors
Operating cash flow resilience
Consistent positive operating cash flow, even amid recent net losses, indicates the business generates cash from operations. That durable cash generation supports liquidity, funds working capital and capex needs, and underpins the company's ability to pursue deleveraging or maintain a modest dividend over the next several months.
Negative Factors
Profitability deterioration and margin compression
A multi‑year shift from mid‑single‑digit margins to recent negative margins signals lost pricing power or persistent higher input costs. Sustained profitability weakness reduces retained earnings, limits organic deleveraging, and forces reliance on cost cuts or structural portfolio changes to restore durable free cash flow generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating cash flow resilience
Consistent positive operating cash flow, even amid recent net losses, indicates the business generates cash from operations. That durable cash generation supports liquidity, funds working capital and capex needs, and underpins the company's ability to pursue deleveraging or maintain a modest dividend over the next several months.
Read all positive factors
Orion SA Key Performance Indicators (KPIs)
Orion SA (OEC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$465.77M
Dividend Yield1.61%
Average Volume (3M)935.23K
Price to Earnings (P/E)―
Beta (1Y)1.22
Revenue Growth-3.44%
EPS Growth-444.16%
CountryUS
Employees1,658
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-1.60
Shares Outstanding56,388,650
10 Day Avg. Volume1,047,203
30 Day Avg. Volume935,232
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.77
Price to Sales (P/S)0.16
P/FCF Ratio5.92
Enterprise Value/Market Cap2.99
Enterprise Value/Revenue0.78
Enterprise Value/Gross Profit4.08
Enterprise Value/Ebitda10.00
Forecast
1Y Price Target
$7.50Price Target Upside8.07% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.13
Revenue Forecast (FY)$1.78B
Orion SA Business Overview & Revenue Model
Company Description
Orion Engineered Carbons S.A., operating globally through its subsidiaries, specializes in the production and distribution of carbon black products across a wide international footprint, including major markets like Germany, the United States, Sou...
How the Company Makes Money
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Orion SA Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: clear, tangible strengths in Specialty (7% EBITDA growth, rising volumes, successful pricing/surcharges), demand recovery signals, a liquidity cushion and cost/capex discipline, offset by a pronounced deterioration in the Rubber segment (53% EBITDA decline), near‑term cash outflows and uncertainty from geopolitical-driven feedstock and supply‑chain volatility. Management raised full‑year EBITDA guidance and outlined operational levers, but acknowledged limited visibility into the second half of 2026.Positive Updates
Adjusted EBITDA Ahead of Internal Expectations
Adjusted EBITDA of $46 million in Q1 was ahead of the company's internal expectations despite a slow start to the quarter; consolidated volumes increased ~2% year‑over‑year. Management raised full‑year adjusted EBITDA guidance by $10 million to a range of $170 million to $210 million.
Negative Updates
Sharp Decline in Rubber Segment Earnings
Rubber adjusted EBITDA declined 53% year‑over‑year to $19 million. Management attributed the decline primarily to the 2026 annual contract pricing reset within Rubber, adverse regional mix and pass‑through effects from lower year‑over‑year oil prices.
Read all updates
Q1-2026 Updates
Positive
Negative
Adjusted EBITDA Ahead of Internal Expectations
Adjusted EBITDA of $46 million in Q1 was ahead of the company's internal expectations despite a slow start to the quarter; consolidated volumes increased ~2% year‑over‑year. Management raised full‑year adjusted EBITDA guidance by $10 million to a range of $170 million to $210 million.
Read all positive updates
Company Guidance
Orion raised full‑year adjusted EBITDA guidance by $10 million to $170–210 million and now expects the FY earnings split to be roughly 50/50 between H1 and H2 (reflecting a shift in European emission credits from Q2 to Q3); management reiterated $90 million of 2026 CapEx (about $70 million below 2025), affirmed $20 million of gross cost savings, and said it expects to unlock at least $30 million of working capital in 2026. Assuming oil prices remain elevated through Q2 then moderate to the mid‑$80s per barrel in H2, the company now forecasts a full‑year free cash outflow of $25–50 million (Q1 free cash outflow was $48 million with Q1 CapEx of $36 million), sees Q2 cash flow similar to Q1 with improvement in Q3 and positive cash flow in Q4, and finished the quarter with nearly $200 million of liquidity, $965 million of net debt and a net leverage ratio of 4.2x.Orion SA Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.79B | 1.81B | 1.88B | 1.89B | 2.03B | 1.55B |
| Gross Profit | 340.90M | 359.80M | 428.80M | 451.00M | 448.80M | 386.60M |
| EBITDA | 139.30M | 159.90M | 225.90M | 324.90M | 308.00M | 327.10M |
| Net Income | -89.10M | -70.10M | 44.20M | 103.50M | 106.20M | 134.70M |
Balance Sheet | ||||||
| Total Assets | 1.93B | 1.91B | 1.86B | 1.83B | 1.89B | 1.63B |
| Cash, Cash Equivalents and Short-Term Investments | 52.00M | 60.70M | 54.10M | 37.50M | 60.80M | 65.70M |
| Total Debt | 1.01B | 979.50M | 1.03B | 927.20M | 1.01B | 867.50M |
| Total Liabilities | 1.55B | 1.52B | 1.38B | 1.35B | 1.43B | 1.31B |
| Stockholders Equity | 379.50M | 384.60M | 474.90M | 478.50M | 459.40M | 319.70M |
Cash Flow | ||||||
| Free Cash Flow | 27.37M | 50.20M | -81.40M | 173.10M | -151.80M | -69.50M |
| Operating Cash Flow | 200.31M | 211.20M | 125.30M | 345.90M | 81.00M | 145.20M |
| Investing Cash Flow | -172.94M | -161.00M | -206.70M | -172.80M | -232.80M | -214.70M |
| Financing Cash Flow | -15.25M | -36.60M | 89.30M | -197.10M | 149.30M | 73.30M |
Orion SA Technical Analysis
Positive
6.94
Price Trends
7.17
Positive
6.53
Positive
6.44
Positive
Market Momentum
0.12
Negative
64.30
Neutral
74.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OEC, the sentiment is Positive. The current price of 6.94 is below the 20-day moving average (MA) of 7.15, below the 50-day MA of 7.17, and above the 200-day MA of 6.44, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 64.30 is Neutral, neither overbought nor oversold. The STOCH value of 74.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OEC.
Orion SA Risk Analysis
Orion SA disclosed 37 risk factors in its most recent earnings report. Orion SA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Orion SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.30B | 33.43 | 12.38% | 0.61% | 9.62% | 16.72% | |
70 Outperform | $4.52B | 16.28 | 18.29% | 2.72% | -8.52% | -31.91% | |
67 Neutral | $5.28B | 35.77 | 12.14% | 1.70% | 5.80% | 12.24% | |
62 Neutral | $8.38B | 50.53 | 1.59% | ― | -1.88% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | $465.77M | -5.14 | -21.83% | 1.61% | -3.44% | -444.16% | |
54 Neutral | $3.31B | -8.21 | -164.40% | 4.37% | 0.34% | -1414.08% |
* Basic Materials Sector Average
OEC
Orion SA
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-20.33%
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Orion SA Corporate Events
Business Operations and StrategyDividends
Orion SA Announces Interim Dividend, Signals Ongoing Stability
Positive
Apr 23, 2026
On April 23, 2026, Orion S.A. announced that its Board of Directors declared an interim dividend of $0.0207 per common share, totaling about $1.2 million based on current shares outstanding. The move underscores the company’s policy of retur...
Executive/Board ChangesRegulatory Filings and Compliance
Orion SA Announces Routine Board Transition as Director Departs
Neutral
Apr 10, 2026
Orion S.A. announced that board member Michel Wurth will not stand for re-election at the company’s 2026 annual general meeting of shareholders. His decision, disclosed in an April 10, 2026 SEC filing and dated April 6, 2026, stems from incr...
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.