Eastman Chemical vs Westlake
Westlake reported revenue of $11.2 billion in fiscal 2025, 1.3 times Eastman Chemical's $8.8 billion in fiscal 2025. Eastman Chemical's revenue fell 6.7% in its latest year, and Westlake's fell 8.0%. Free cash flow was $424 million at Eastman Chemical and −$530 million at Westlake.
Side by side
| Eastman Chemical | Westlake | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $8.8B | $11.2B |
| Revenue growth | −6.7% | −8.0% |
| Revenue growth a year, last 5 years | 0.7% | 8.3% |
| Gross margin | 21.1% | 7.3% |
| Operating margin | — | −14.1% |
| Net margin | 5.4% | −13.5% |
| Free cash flow | $424M | −$530M |
| Free cash flow margin | 4.8% | −4.7% |
| Return on capital | 6.5% | −10.0% |
| Net debt to EBITDA | 3.3x | — |
| Dividends and buybacks | $381M | $335M |
| Change in diluted share count | −1.9% | −0.7% |
| Last close | $65.73 | $65.31 |
| P/E at the last close | 17.1× | — |
| Insider trades, last 12 months | sold $365,789 | sold $10.2 million |
| Piotroski F-score | 5 of 9 | 3 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Eastman ChemicalWestlake
Operating margin
Percent of revenue
Eastman ChemicalWestlake
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Eastman ChemicalWestlake
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Eastman Chemical and Westlake pages.