Orion Engineered Carbons S.A.

Orion Engineered Carbons S.A.

OEC·NYSE

$7.18

-4.9%
Basic MaterialsChemicals - Specialty

Orion Engineered Carbons S.A., together with its subsidiaries, manufactures and sells carbon black products in Germany, the United States, South Korea, Brazil, China, South Africa, the rest of Europe, and internationally. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for polymers, coatings, and battery electrodes. It also provides rubber carbon black products for applications in mechanical rubber goods under the PUREX brand, as well as in tires under the ECORAX brand name. The company was formerly known as Orion Engineered Carbons S.à r.l. and changed its name to Orion Engineered Carbons S.A. in July 2014. Orion Engineered Carbons S.A. was founded in 1862 and is headquartered in Senningerberg, Luxembourg.

At a Glance

Live Snapshot
Market Cap$404.87M
EPS-1.2400
P/E Ratio-5.79
Earnings Date08/05/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

Medium confidence

Valuation multiple is compressed (P/E -5.8).

Valuation inputs: P/E -5.8, earnings yield N/A, momentum -4.9%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE -18.2%, ROIC +6.4%).

Profitability stack: net margin -3.9%, ROE -18.2%, ROIC +6.4%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile is elevated and scenario stress-testing is essential.

Risk factors: liabilities/assets +79.8%, momentum -4.9%, net margin -3.9%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

oec

Orion Engineered Carbons S.A. Market vs Earnings Trajectory

OEC · NYSE

Loading price and EPS data...

Orion Engineered Carbons S.A.

Orion Engineered Carbons S.A. Fair Value Envelope

OEC · NYSE

Our analysis suggests that OEC has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $7.18, this represents a potential HIDDEN relative to our calculated worth for Orion Engineered Carbons S.A..

Intrinsic Value
Current Price: $7.18
3Y-171.0%
5Y-513.0%
10Y-249.0%
3Y-11.0%
5Y+59.0%
10Y+67.0%
3Y-166.0%
5Y-486.0%
10Y-242.0%
3Y+161.0%
5Y+69.0%
10Y+20.0%
3Y-133.0%
5Y-355.0%
10Y-52.0%
3Y+1.0%
5Y+37.0%
10Y+82.0%
Orion Engineered Carbons S.A.

Orion Engineered Carbons S.A. Profit Bridge

OEC · NYSE
Revenue1.81B
Cost of Goods Sold (1.45B)
Gross Profit359.80M
Operating Expenses (258.20M)
Operating Income101.60M
Interest Expense (62.30M)
Other Income/Expense-135.90M
Pretax Income-34.30M
Income Tax (35.80M)
Net Income-70.10M
Net Income
-70.10M

Profitability Analysis

Gross Margin

19.9%

Thin margins leave little room for error. Cost management and pricing strategy are critical.

Operating Margin

5.6%

Acceptable margins but limited operational leverage. Operating expense control is important.

Net Profit Margin

-3.9%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

Non-operating losses: Core business is profitable but other expenses (interest, taxes, one-time items) are driving net losses. Review capital structure and non-operating items.

19.91%
Gross Profit Margin
-13%
3Y-10.0%
5Y-23.0%
10Y-39.0%
5.62%
Operating Profit Margin
-36%
3Y-43.0%
5Y-33.0%
10Y-63.0%
-3.88%
Net Profit Margin
-265%
3Y-174.0%
5Y-343.0%
10Y-185.0%
-18.23%
Return on Equity
-296%
3Y-179.0%
5Y-282.0%
10Y-121.0%
-3.67%
Return on Assets
-254%
3Y-165.0%
5Y-381.0%
10Y-178.0%
6.41%
Return on Invested Capital
-23%
3Y-24.0%
5Y+12.0%
10Y-51.0%
OEC

Orion Engineered Carbons S.A. Cash Conversion Engine

OEC · NYSE
Net Income-70.10M
Depreciation & Amortization131.90M
Stock-Based Compensation13.60M
Change in Working Capital72.30M
Others70.30M
Capital Expenditures-161.00M
Free Cash Flow50.20M

Cash Flow Quality Analysis

FCF Conversion Rate

-71.6%

Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.

CapEx Intensity

76.2%

Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.

FCF Growth Trend

+161.7%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

+$72.30M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Capital-intensive growth: Heavy reinvestment limits current cash available but may drive future returns. Assess whether CapEx supports compelling growth opportunities with adequate ROI.

oec

Orion Engineered Carbons S.A. Funding & Solvency Profile

OEC · NYSE
Cash & Cash Equivalents52.00M
Net Receivables287.80M
Inventory251.00M
Other Current Assets70.70M
Total Current Assets662 M
Property, Plant & Equipment1.19B
Goodwill & Intangible Assets11.90M
Long-Term Investments34.30M
Other Non-Current Assets7.90M
Total Non-Current Assets1 B
Total Assets
1.93B

Financial Health Analysis

Current Ratio

1.00x

Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.

Debt-to-Equity Ratio

4.09x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

2 M

Positive working capital, but relatively tight. The company should monitor cash flow carefully.

Asset Composition

34% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

oec

Orion Engineered Carbons S.A. Street Expectations Map

OEC · NYSE

Wall Street analysts project that OEC stock may decline over the coming 12 months. The consensus 1-year price target stands at 6.38, with estimates ranging from a low of 5.25 to a high of 7.50.

Lowest Target
5.25
-26.88%
Consensus Target
6.38
-11.14%
Highest Target
7.50
4.46%

The consensus 1-year price target stands at 6.38, with estimates ranging from a low of 5.25 to a high of 7.50.

Analyst Consensus Analysis

Upside Potential

-11.1%

Downside risk. Current price above analyst targets indicates potential overvaluation. Exercise caution and review catalysts.

Analyst Agreement

35.3% spread

Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.

Risk-Reward Profile

0.17x

Unfavorable risk-reward. Downside risk exceeds upside potential. Consider defensive positioning or alternative opportunities.

Analyst Conviction

Low

Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

oec

Orion Engineered Carbons S.A. Insider Positioning

OEC · NYSE

During the last 12 months, there has been no insider trading activity reported for OEC.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

0.33%
Dividend Yield
-18%
3Y+297.0%
5Y-
10Y-72.0%
 

oec Dividend History

OEC
10Y CAGR 31%
Latest $0.021
Annual $0.1035
Stable dividend payments
Last Period: +0%