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OLN

Olin Corporation

OLN

Olin Corporation • NYSE
$21.10 ▲ 2.58% (+0.53)
Market Cap $2.41 B
52w High $43.76
52w Low $17.66
Dividend Yield 0.80%
P/E 45.87
Volume 1.02M
Outstanding Shares 114.16M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.713B ▼ $183M ▲ $43M ▲ 2.51% ▲ $0.37 ▲ $226.5M ▲
Q2-2025 $1.758B ▲ $102.8M ▼ $-1.3M ▼ -0.074% ▼ $-0.011 ▼ $177.5M ▼
Q1-2025 $1.644B ▼ $105M ▼ $1.4M ▼ 0.085% ▼ $0.012 ▼ $185.6M ▼
Q4-2024 $1.671B ▲ $110.6M ▼ $10.7M ▲ 0.64% ▲ $0.092 ▲ $193.4M ▲
Q3-2024 $1.589B $119M $-24.9M -1.567% $-0.21 $160.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $140.3M ▼ $7.601B ▼ $5.607B ▼ $1.962B ▲
Q2-2025 $223.8M ▲ $7.668B ▲ $5.68B ▲ $1.957B ▼
Q1-2025 $174M ▼ $7.655B ▲ $5.617B ▲ $2.006B ▼
Q4-2024 $175.6M ▼ $7.579B ▲ $5.524B ▲ $2.023B ▼
Q3-2024 $225.9M $7.518B $5.429B $2.057B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $43.7M ▲ $26.7M ▼ $-73.3M ▲ $-36.7M ▲ $-83.5M ▼ $-44.4M ▼
Q2-2025 $-1.3M ▼ $212.3M ▲ $-89.9M ▼ $-73.2M ▼ $49.8M ▲ $181.3M ▲
Q1-2025 $1.2M ▼ $-86M ▼ $-62.4M ▲ $146.6M ▲ $-1.6M ▲ $-147.4M ▼
Q4-2024 $10.7M ▲ $141.7M ▼ $-76.7M ▼ $-113.7M ▼ $-50.3M ▼ $90.7M ▼
Q3-2024 $-25.2M $189.9M $-56.6M $-90M $43.8M $146.6M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Chlor Alkali Products and Vinyls Segment
Chlor Alkali Products and Vinyls Segment
 $950.00M ▲$920.00M ▼$980.00M ▲$920.00M ▼
Epoxy Segment
Epoxy Segment
 $280.00M ▲$330.00M ▲$330.00M ▲$350.00M ▲
Winchester Segment
Winchester Segment
 $440.00M ▲$390.00M ▼$450.00M ▲$440.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits have come down from the boom years of 2021–2022, when pricing in key chemical markets and ammunition demand were unusually strong. Sales have drifted lower for two years in a row, and profit margins have compressed quite a bit from those peak levels. The business moved from a deep loss in 2020 to very strong profitability in 2021–2022, but more recent results show much thinner earnings, especially in 2024. Overall, this looks like a cyclical chemicals and ammunition profile: still profitable, but currently in a weaker part of the cycle compared with the recent highs.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid and has improved since 2020. Total assets have been fairly steady, which suggests no aggressive expansion or contraction. Debt has been reduced meaningfully from earlier high levels, easing leverage pressure, while shareholders’ equity has been rebuilt after the 2020 downturn, even if it edged down most recently. Cash on hand is modest but stable. In simple terms, the company appears better capitalized and less stretched than it was a few years ago, but it is not sitting on large cash reserves.

Cash Flow

Cash Flow Cash generation has been a relative strength. Operating cash flow was very strong in the peak years and, although lower more recently, it remains clearly positive. After funding a steady, not overly large level of capital spending, Olin has consistently produced positive free cash flow over the last five years. This indicates the business can fund its maintenance needs and still have room for dividends, debt reduction, or other uses, even in a softer earnings environment. The pattern underscores that this is a cash-generative business through the cycle, though with clear ups and downs tied to market conditions.

Competitive Edge

Competitive Edge Olin holds leading positions in chlor‑alkali chemicals, epoxy resins, and ammunition through its Winchester brand. Its scale, global footprint, and vertical integration give it cost advantages and supply-chain control that are difficult for smaller rivals to match. The long-standing Winchester relationship with the U.S. military, including operation of the Lake City plant, provides a unique anchor customer and high barriers to entry in small‑caliber ammunition. On the chemicals side, being one of the largest producers in the world gives Olin negotiating power and resilience in downturns. The main vulnerabilities are exposure to commodity‑like pricing in chlor‑alkali, sensitivity to industrial demand cycles, and regulatory or environmental pressures on its processes.

Innovation and R&D

Innovation and R&D Innovation at Olin is very focused on process efficiency, sustainability, and specialized end‑use applications rather than headline‑grabbing pure research. In chlor‑alkali, the move to advanced membrane technologies cuts energy use and costs while improving environmental performance. In epoxy, Olin is pushing into recyclable resins for wind turbines and lower‑emission formulations for coatings and composites, which could benefit from regulatory and customer shifts toward greener materials. Winchester is investing in next‑generation military ammunition, including advanced rounds and a new facility tied to the Army’s Next Generation Squad Weapon program. The company is also exploring green hydrogen and other low‑carbon initiatives. These efforts create real opportunity, but their eventual impact depends on execution, adoption by customers, and policy support for clean technologies and defense spending.

Summary

Olin today looks like a cyclical industrial and defense supplier that has moved from a period of exceptional profitability back toward more normal, and recently much slimmer, earnings. The core franchise is underpinned by scale, vertical integration, and entrenched positions in chlor‑alkali, epoxy, and ammunition, particularly U.S. military contracts. Financially, leverage has been reduced, equity rebuilt, and cash flow has remained robust enough to comfortably cover investment needs. Looking ahead, the key swing factors are the chemical pricing cycle, industrial demand, energy and environmental regulation, and the trajectory of defense spending. Its innovation pipeline in sustainable materials and advanced ammunition offers clear growth avenues, but the payoff will likely be gradual and subject to both market and policy uncertainties.

NEWS

November 11, 2025 · 8:03 AM UTC

Olin Enters Strategic Partnership with Braskem to Drive Vinyls Value Growth

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October 27, 2025 · 4:05 PM UTC

Olin Announces Third Quarter 2025 Results

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September 26, 2025 · 4:05 PM UTC

Olin Corporation Third Quarter 2025 Earnings Conference Call Announcement

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September 19, 2025 · 8:00 AM UTC

Xcel Brands Appoints Olin Lancaster as Chief Revenue Officer

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September 18, 2025 · 12:00 AM UTC

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