Element Solutions (ESI) financial statements
Element Solutions reported revenue of $2.6B in fiscal 2025, up 4.1% a year over 9 years.
Net income was $191M and the operating margin 13.4%, against 5.1% in 2016.
Free cash flow was $228M, and the company returned $78M in dividends and $25M in net buybacks.
The diluted share count fell 11% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Element Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $2.0B | $1.8B | $1.9B | $2.4B | $2.5B | $2.3B | $2.5B | $2.6B |
| Cost of revenue | $993M | $1.1B | $1.1B | $1.0B | $1.1B | $1.4B | $1.6B | $1.4B | $1.4B | $1.5B |
| Gross profit | $777M | $814M | $838M | $788M | $786M | $961M | $953M | $918M | $1.0B | $1.1B |
| Research and development | $45M | $46M | $44M | $42M | $49M | $50M | $49M | $68M | $63M | $68M |
| Selling, general and admin | $596M | $567M | $545M | $497M | $505M | $611M | $579M | $597M | $629M | $661M |
| Operating income | $89M | $200M | $248M | $249M | $233M | $300M | $325M | $174M | $344M | $342M |
| Pre-tax income | -$232M | -$260M | -$53M | $141M | $81M | $252M | $272M | $129M | $288M | $266M |
| Income tax | -$41M | -$69M | $24M | $61M | $4M | $48M | $86M | $13M | $45M | $75M |
| Net income | -$74M | -$296M | -$324M | $92M | $76M | $203M | $187M | $118M | $244M | $191M |
| EPS (diluted) | -$0.65 | -$1.04 | -$1.13 | $0.35 | $0.30 | $0.82 | $0.76 | $0.49 | $1.01 | $0.79 |
| Diluted shares | 272M | 286M | 288M | 260M | 250M | 248M | 246M | 242M | 243M | 242M |
| Gross margin | 43.9% | 43.3% | 42.7% | 42.9% | 42.4% | 40.0% | 37.4% | 39.4% | 42.2% | 42.0% |
| Operating margin | 5.1% | 10.7% | 12.7% | 13.6% | 12.6% | 12.5% | 12.8% | 7.4% | 14.0% | 13.4% |
| Net margin | -4.2% | -15.8% | -16.5% | 5.0% | 4.1% | 8.5% | 7.3% | 5.1% | 9.9% | 7.5% |
Balance sheet
Fiscal years, from Element Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $423M | $258M | $234M | $190M | $292M | $330M | $266M | $289M | $359M | $626M |
| Receivables | $1.1B | $400M | $382M | $364M | $403M | $492M | $456M | $462M | $440M | $518M |
| Inventory | $416M | $186M | $188M | $200M | $203M | $274M | $291M | $299M | $246M | $295M |
| Total current assets | $2.1B | $2.3B | $2.5B | $833M | $990M | $1.2B | $1.2B | $1.2B | $1.3B | $1.6B |
| Property, plant and equipment | $460M | $287M | $267M | $265M | $240M | $278M | $277M | $297M | $277M | $320M |
| Goodwill | $2.1B | $2.3B | $2.2B | $2.2B | $2.3B | $2.5B | $2.4B | $2.3B | $2.1B | $2.2B |
| Total assets | $10.1B | $10.3B | $9.4B | $4.3B | $4.5B | $5.1B | $4.9B | $5.0B | $4.9B | $5.1B |
| Total current liabilities | $1.1B | $1.1B | $1.1B | $294M | $314M | $415M | $344M | $369M | $380M | $430M |
| Long-term debt | $5.1B | $5.4B | $5.4B | $1.5B | $1.5B | $1.9B | $1.9B | $1.9B | $1.8B | $1.6B |
| Total liabilities | $7.2B | $7.4B | $7.2B | $2.1B | $2.2B | $2.6B | $2.6B | $2.6B | $2.5B | $2.4B |
| Shareholders' equity | $2.7B | $2.7B | $2.1B | $2.2B | $2.3B | $2.5B | $2.3B | $2.3B | $2.4B | $2.7B |
| Net debt | $4.8B | $5.2B | $5.1B | $1.3B | $1.2B | $1.6B | $1.6B | $1.6B | $1.5B | $999M |
Cash flow
Fiscal years, from Element Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $185M | $182M | -$800,000 | $171M | $276M | $326M | $296M | $334M | $362M | $290M |
| Capital spending | $33M | $31M | $28M | $30M | $29M | $46M | $48M | $53M | $68M | $62M |
| Free cash flow | $152M | $151M | -$29M | $141M | $247M | $280M | $248M | $281M | $294M | $228M |
| Stock-based compensation | $7M | $12M | $15M | $12M | $6M | $40M | $18M | $9M | $15M | $59M |
| Dividends paid | — | — | $0 | $0 | $12M | $62M | $78M | $77M | $78M | $78M |
| Share buybacks (net) | — | $0 | $0 | -$507M | -$56M | -$20M | -$151M | $0 | $0 | -$25M |
| Net borrowing | -$3.3B | $20M | -$22M | -$3.9B | -$8M | $388M | -$16M | $33M | -$112M | -$203M |
| Free cash flow margin | 8.6% | 8.1% | -1.5% | 7.7% | 13.3% | 11.7% | 9.7% | 12.0% | 12.0% | 8.9% |
| Dividends per share | — | — | — | — | $0.05 | $0.25 | $0.32 | $0.32 | $0.32 | $0.32 |
Questions
What was Element Solutions's revenue in 2025?
$2.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Element Solutions generate?
$228M in fiscal 2025 (operating cash flow minus capital spending).
From Element Solutions's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.