公司概述
LyondellBasell Industries N.V. operates globally as a chemical entity with significant physical presence in the United States, Germany, China, Mexico, Italy, Japan, France, Poland, the Netherlands, and various other international markets, producing essential materials across five distinct operational segments. The company is categorized within the Basic Materials sector and specifically functions in the Specialty Chemicals industry, which implies a focus on manufacturing specialized chemical compounds rather than bulk commodities. With a substantial market capitalization of $23.28B, an annual revenue generation of $30.15B, and an employee base of 18,970, the firm represents a large-scale industrial operation with extensive global reach. These valuation and revenue figures indicate that LyondellBasell maintains a significant footprint in the global chemical supply chain, positioning it as a major player capable of influencing market dynamics despite recent revenue contraction.
财务健康
The company reported trailing twelve-month revenue of $30.15B alongside a net income of -$799,000,000 and an EBITDA of $2.18B, revealing a significant divergence between top-line sales and bottom-line profitability. This gap between revenue and net income highlights a cost structure where operating expenses, including interest costs or other non-operational charges, are substantial enough to erase operational profits and result in a net loss for the period. Despite the net loss, the entity generated $447.00M in free cash flow, which suggests that the operational cash generation remains positive and provides a degree of financial flexibility for capital allocation or debt servicing. The margin profile shows a gross margin of 9.0%, an operating margin of -0.9%, and a profit margin of -2.5%, indicating that while production costs are managed to retain nearly 10% of sales value, high overheads or interest expenses are eroding operational and net profitability. Regarding liquidity and leverage, total cash stands at $3.44B against total debt of $14.71B, resulting in a debt-to-equity ratio of 144.16%, which characterizes a highly leveraged balance sheet rather than a conservative one. The current ratio is 1.77, suggesting that the company holds sufficient current assets to cover its short-term liabilities with a comfortable buffer. Return on Equity stands at -6.9% while Return on Assets is 1.7%, indicating that management is currently destroying shareholder value relative to equity but maintaining a modest positive return on the total asset base employed in operations.
估值评估
Valuation metrics present a mixed picture, with a trailing P/E ratio listed as N/A due to the negative net income, contrasting with a forward P/E of 14.71 that implies an expectation of future earnings recovery. The price-to-book ratio of 2.31 indicates that the market is valuing the company at a premium of 131% over its book value, reflecting potential intangible assets or market confidence in future cash flows despite current losses. Alternative valuation measures include a price-to-sales ratio of 0.77 and an EV/EBITDA of 15.91, which suggest the company is trading at a reasonable multiple relative to its sales and earnings before interest, taxes, depreciation, and amortization. Price metrics show a 52-week high of $83.94 and a 52-week low of $41.58, providing a range within which the stock has traded over the past year. The beta of 0.44 indicates that the stock exhibits low volatility relative to the broader market, moving with significantly less intensity than the general equity index.
Growth & Income
Revenue growth year-over-year has contracted by 9.2%, while earnings growth is N/A due to the current period's net loss, meaning earnings are not growing faster than revenue and are currently negative. The company pays a dividend yield of 6.6%, yet the payout ratio stands at 1146.8%, which indicates that the dividend is being funded entirely from cash reserves or debt rather than current earnings, presenting a potential sustainability risk given the negative net income. The high payout ratio relative to negative earnings suggests the company is distributing cash that does not align with traditional earnings-based payout models, relying heavily on its $3.44B cash balance. Overall, the growth and income profile reflects a mature capital-intensive business currently facing profitability challenges while maintaining a high-yield dividend supported by strong cash flows rather than operating income.