Olin Corporation (OLN)
NYSE:OLN
Want to see OLN full AI Analyst Report?
Top Page
Olin
(NYSE:OLN)
Select Model
Select Model
Rating:53Neutral
Price Target:
$27.00
▲(3.49% Upside)
Action:Reiterated
Date:05/09/26
OLN scores in the low-to-mid range primarily due to weakened financial performance (compressed margins, TTM net loss, and elevated leverage), partially offset by solid operating/free cash flow. The latest earnings call improved the outlook with materially higher Q2 EBITDA guidance and pricing/cost-saving tailwinds, while technicals and dividend support are neutral positives but do not fully offset earnings and balance-sheet risk.
Positive Factors
Cash generation
Sustained positive operating cash flow (~$512M TTM) and solid free cash flow (~$303M TTM) provide durable internal funding for capex, dividends and restructuring. This cash resilience cushions cyclical earnings volatility and supports deleveraging and strategic investments over the medium term.
Negative Factors
Elevated leverage
High absolute debt (~$3.25B) and materially higher leverage reduce financial flexibility in a cyclical chemical business. Elevated debt ratios constrain ability to absorb downturns, increase interest and covenant risk, and make deleveraging dependent on sustained operational improvements and consistent cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive operating cash flow (~$512M TTM) and solid free cash flow (~$303M TTM) provide durable internal funding for capex, dividends and restructuring. This cash resilience cushions cyclical earnings volatility and supports deleveraging and strategic investments over the medium term.
Read all positive factors
Olin (OLN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.05B
Dividend Yield3.91%
Average Volume (3M)2.30M
Price to Earnings (P/E)―
Beta (1Y)1.16
Revenue Growth2.60%
EPS Growth-316.21%
CountryUS
Employees7,676
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-1.12
Shares Outstanding113,897,766
10 Day Avg. Volume2,401,579
30 Day Avg. Volume2,300,195
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)1.26
Price to Sales (P/S)0.35
P/FCF Ratio9.63
Enterprise Value/Market Cap1.97
Enterprise Value/Revenue0.90
Enterprise Value/Gross Profit13.91
Enterprise Value/Ebitda11.79
Forecast
1Y Price Target
$29.42Price Target Upside12.75% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)0.12
Revenue Forecast (FY)$7.06B
Olin Business Overview & Revenue Model
Company Description
Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls se...
How the Company Makes Money
Olin makes money by manufacturing and selling products across two primary operating areas: (1) Chemicals and (2) Winchester ammunition. In its Chemicals business, revenue is generated from sales of chlor-alkali products—most notably caustic soda a...
Olin Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call emphasized multiple operational and commercial positives: epoxy has returned to profitability with large price increases, CAPV pricing momentum and announced caustic price hikes, significant structural cost savings from the Beyond two fifty program, improved Winchester channel dynamics, and solid liquidity and covenant flexibility. Offsetting risks include an unplanned vinyls outage at Freeport (incremental Q2 impact), ongoing raw material and freight inflation, seasonal demand softness in chlorine, and elevated leverage expectations due to litigation-related cash outflows. On balance the positives — clear cost actions, pricing tailwinds, strong Q2 guidance and restored epoxy profitability — materially outweigh the near-term operational and financial headwinds.Positive Updates
Q2 EBITDA Guidance and Q1 Baseline
Company guided second-quarter adjusted EBITDA of $160 million to $200 million versus roughly $86 million of EBITDA in Q1 (analyst referenced), implying roughly a >100% increase to the midpoint (~$180M) driven by CAPV improvement, epoxy recovery, and Winchester momentum.
Negative Updates
Unplanned Freeport Vinyls Outage
An unplanned vinyls outage at Freeport occurred after completing a planned turnaround; management expects restart late next week. The event creates incremental second-quarter impact (management indicated the Q2 turnaround expense forecast did not include this unplanned event).
Read all updates
Q1-2026 Updates
Positive
Negative
Q2 EBITDA Guidance and Q1 Baseline
Company guided second-quarter adjusted EBITDA of $160 million to $200 million versus roughly $86 million of EBITDA in Q1 (analyst referenced), implying roughly a >100% increase to the midpoint (~$180M) driven by CAPV improvement, epoxy recovery, and Winchester momentum.
Read all positive updates
Company Guidance
Olin guided second-quarter adjusted EBITDA of $160–$200 million (versus roughly $86 million in Q1), attributing the step-up mainly to CAPV pricing and volume recovery (while factoring in the estimated impact of an unplanned Freeport vinyls outage expected to restart late next week) plus sequential improvement in epoxy and Winchester; key financial and operational metrics highlighted include approximately $200 million of targeted 2026 capital spending, $1.3 billion of available liquidity with no debt maturities before 2029, expected 2026 cash taxes essentially cash‑free ± $20 million, an anticipated year-end leverage just above 4× (with a cycle goal to average below 2×), and net debt expected to rise in 2026 for legacy litigation payments. Management reiterated Beyond two fifty savings of more than $250 million cumulative by 2028 (they delivered $44 million in 2025 and expect an incremental $100–$120 million in 2026), a Q2 turnaround expense forecast of about $42 million (exclusive of the unplanned outage), domestic caustic price increases of $185/ton for 2026, epoxy price hikes of >$1,200/ton in North America and €1,300/ton in Europe, €40–€50 million of annual European epoxy cost improvement, Winchester commercial volume upside of mid‑ to high‑single digits year‑over‑year, and that 6–9% of global vinyls capacity has been impacted amid current supply disruptions.Olin Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.72B | 6.78B | 6.54B | 6.83B | 9.38B | 8.91B |
| Gross Profit | 432.50M | 501.50M | 737.50M | 1.16B | 2.18B | 2.29B |
| EBITDA | 510.20M | 623.80M | 873.90M | 1.31B | 2.43B | 2.49B |
| Net Income | -127.00M | -42.80M | 108.60M | 460.20M | 1.33B | 1.30B |
Balance Sheet | ||||||
| Total Assets | 7.35B | 7.33B | 7.58B | 7.71B | 8.04B | 8.52B |
| Cash, Cash Equivalents and Short-Term Investments | 192.20M | 167.60M | 175.60M | 170.30M | 194.00M | 180.50M |
| Total Debt | 3.25B | 3.39B | 3.15B | 3.02B | 2.94B | 3.16B |
| Total Liabilities | 5.62B | 5.40B | 5.52B | 5.44B | 5.50B | 5.87B |
| Stockholders Equity | 1.73B | 1.90B | 2.02B | 2.23B | 2.54B | 2.65B |
Cash Flow | ||||||
| Free Cash Flow | 303.00M | 247.90M | 308.10M | 738.30M | 1.69B | 1.54B |
| Operating Cash Flow | 511.60M | 474.20M | 503.20M | 974.30M | 1.92B | 1.74B |
| Investing Cash Flow | -300.20M | -319.60M | -283.70M | -340.80M | -259.70M | -197.40M |
| Financing Cash Flow | -193.40M | -163.00M | -212.60M | -656.90M | -1.65B | -1.55B |
Olin Technical Analysis
Neutral
26.09
Price Trends
27.13
Negative
25.10
Positive
23.34
Positive
Market Momentum
0.06
Positive
48.08
Neutral
28.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OLN, the sentiment is Neutral. The current price of 26.09 is below the 20-day moving average (MA) of 27.38, below the 50-day MA of 27.13, and above the 200-day MA of 23.34, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 48.08 is Neutral, neither overbought nor oversold. The STOCH value of 28.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for OLN.
Olin Risk Analysis
Olin disclosed 24 risk factors in its most recent earnings report. Olin reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Olin Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $2.40B | 27.35 | 0.31% | 1.37% | 6.25% | -94.37% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | $3.10B | 14.94 | 6.64% | 3.48% | 1.33% | 57.45% | |
59 Neutral | $5.42B | 12.88 | -16.43% | ― | 22.99% | -245.44% | |
54 Neutral | $3.48B | -28.55 | -164.40% | 4.37% | 0.34% | -1414.08% | |
53 Neutral | $3.05B | -10.19 | -6.73% | 3.91% | 2.60% | -316.21% | |
46 Neutral | $11.35B | -22.61 | -17.68% | 2.88% | -8.63% | -524.43% |
* Basic Materials Sector Average
OLN
Olin
27.07
7.32
37.06%
AVNT
Avient
33.55
-2.61
-7.21%
KWR
Quaker Chemical
136.27
30.62
28.98%
WLK
Westlake Corporation
91.46
16.78
22.47%
CC
Chemours Company
22.94
12.01
109.86%
PRM
Perimeter Solutions
33.44
21.61
182.67%
Olin Corporate Events
Business Operations and StrategyExecutive/Board ChangesDividendsShareholder Meetings
Olin Shareholders Approve 2026 Incentive Plan and Directors
Positive
Apr 30, 2026
On April 30, 2026, Olin shareholders approved the 2026 Long Term Incentive Plan, enabling a range of equity awards for directors, officers, and key employees, and the board adopted detailed stock, RSU, PSU, and option award agreements that strengt...
Dividends
Olin Declares Quarterly Dividend, Extending Long Payout Streak
Positive
Feb 19, 2026
On February 19, 2026, Olin’s board declared a quarterly dividend of $0.20 per share on its common stock, payable on March 13, 2026 to shareholders of record as of March 3, 2026. The decision underscores the company’s long-standing comm...
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.