One-glance verdict
Undervalued
$108.76 our estimate vs market $10.55
Wall Street consensus: $14.33 (-86.8% lower than our fair-value estimate)
90% below our estimate, below the bear case
Fundamentals snapshot
Huntsman Corporation
HUN · NYQ · Basic Materials · Chemicals
Current price
$10.55
52-week range
$7.30 - $16.09
Market cap
$1.85B
Balance sheet
Distressed
-0.27x Concerning
Net debt $2.12B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 0.2% last year.
- Reward Free cash flow was positive in 9/10 years.
- Risk Net debt grew 34.1% over 3 years.
- Risk Operating margin compressed from 9.4% to -0.4% over 3 years.
What this company does
Huntsman Corporation
Huntsman Corporation creates specialty chemicals that are key ingredients in a wide range of products, from construction materials to automotive parts. The company makes most of its money selling polyurethanes, which are used to make things like foam insulation, car seats, and adhesives. Because its products are a critical part of the supply chain (the entire process of making and selling goods) for so many different industries, Huntsman's performance often reflects the overall health of the economy.
How the company got here
Huntsman was started in 1970 by Jon Huntsman and grew by buying other chemical companies, including major parts of Texaco and Imperial Chemical Industries, to expand its global reach. [1, 3, 4] It became a publicly traded company on the stock market in 2005. [3] In recent years, Huntsman has focused on simplifying its business by selling off several large divisions, like its textile and pigment businesses, to concentrate on its most specialized and profitable chemical products. [2, 7, 10] This transformation has shifted the company away from being a broad chemical conglomerate to a more focused maker of specialty chemicals. [7]
What it actually does
Huntsman doesn't make products you buy directly in a store; instead, it creates the chemical ingredients that other companies use to make thousands of everyday items. [1, 2] Think of them as providing the essential building blocks for things like the foam insulation in your house, lightweight parts in your car, adhesives for construction, and strong materials for airplanes. [2, 3] Their chemicals are designed to make end products lighter, stronger, more energy-efficient, or more durable. [1] Huntsman sells these specialized ingredients to other large manufacturers, not to individual consumers. [2]
Polyurethanes
This is Huntsman's largest business, making up a majority of its sales. [7] It produces a chemical called MDI, which is a key ingredient for making polyurethanes. These materials are incredibly versatile and are used to create energy-saving spray foam insulation for buildings, foam for furniture and car seats, durable adhesives, and soles for shoes. [1, 2] Companies in the construction, automotive, and furniture industries are the main customers for this segment. [1]
Performance Products
This division makes specialty chemicals called amines and maleic anhydride, which are used to improve the performance of other products. [3, 7] For example, these chemicals go into detergents to help them clean better, are used in fuels and lubricants to make engines run more smoothly, and are essential for making certain coatings and adhesives stickier and stronger. [3] Its customers are other industrial companies that make products for agriculture, energy, and home care. [3]
Advanced Materials
This segment, which accounts for a smaller portion of revenue, creates high-strength resins and polymer systems for demanding applications. [7] These are super-strong and lightweight materials, like advanced epoxies, that are crucial for building airplanes, electric vehicles, and wind turbine blades. [2] The main customers are in the aerospace, automotive, and energy industries, who pay for these materials because of their strength, durability, and ability to withstand extreme conditions. [2]
What management is betting on now
Management's main strategy is to focus on selling more specialized products where they can charge higher prices, a strategy sometimes called 'value over volume'. [8] They are moving away from commodity chemicals (basic, high-volume chemicals that are sensitive to price swings) to concentrate on unique solutions for customers in markets like aerospace and energy conservation. [2, 8] The company is also focused on controlling costs and generating strong free cash flow (cash left after paying for operating costs and equipment spending) to keep its finances healthy. [2, 6] This includes investing in products that support sustainability trends, such as lightweight materials for cars and energy-saving insulation for homes. [8]
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$-4.00M
FY2024 Q3
$88.00M
FY2024 Q4
$102.00M
FY2025 Q1
$-110.00M
FY2025 Q2
$54.00M
FY2025 Q3
$153.00M
FY2025 Q4
$19.00M
FY2026 Q1
$-91.00M
Revenue
$1.42B
Net income
$-53.00M
Diluted EPS
-0.31
Operating cash flow
$-53.00M
Free cash flow
$-91.00M
Fetching…
Sources
Revenue
$1.35B
Net income
$-96.00M
Diluted EPS
-0.56
Operating cash flow
$76.00M
Free cash flow
$19.00M
Fetching…
Sources
Revenue
$1.46B
Net income
$-25.00M
Diluted EPS
-0.14
Operating cash flow
$196.00M
Free cash flow
$153.00M
Fetching…
Sources
Revenue
$1.46B
Net income
$-158.00M
Diluted EPS
-0.92
Operating cash flow
$91.00M
Free cash flow
$54.00M
Fetching…
Sources
Revenue
$1.41B
Net income
$-5.00M
Diluted EPS
-0.03
Operating cash flow
$-74.00M
Free cash flow
$-110.00M
Fetching…
Sources
Revenue
$1.45B
Net income
$-141.00M
Diluted EPS
-0.82
Operating cash flow
$153.00M
Free cash flow
$102.00M
Fetching…
Sources
Revenue
$1.54B
Net income
$-33.00M
Diluted EPS
-0.19
Operating cash flow
$129.00M
Free cash flow
$88.00M
Fetching…
Sources
Revenue
$1.57B
Net income
$22.00M
Diluted EPS
0.13
Operating cash flow
$46.00M
Free cash flow
$-4.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $108.76 vs current price $10.55
Wall Street consensus is the average analyst price target: $14.33 (-86.8% lower than our fair-value estimate).
Our most-likely fair value is $108.76 a share — about 930.9% above today's price of $10.55, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Distressed
Net debt $2.1B. Interest coverage -0.3x.
Net debt
$2.12B
Interest coverage
-0.27x
Huntsman Corporation's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
HUN
BASELINE
Huntsman Corporation
Total debt $2.49B Interest coverage -0.27x This is the baseline the peer rows are being compared against.
Total debt $3.31B Interest coverage 0.21x This peer still has a real interest-payment cushion, while HUN does not.
Total debt $4.39B Interest coverage -0.10x Neither company has much profit cushion over interest right now.
Total debt $1.48B Interest coverage 1.44x This peer still has a real interest-payment cushion, while HUN does not.
Total debt $12.90B Interest coverage 1.09x This peer still has a real interest-payment cushion, while HUN does not.
Total debt $5.45B Interest coverage 4.37x This peer still has a real interest-payment cushion, while HUN does not.
What you should know
The case for and against HUN
3 Rewards
3 Risks
Rewards
-
Revenue grew 0.2% last year.
-
Free cash flow was positive in 9/10 years.
-
Dividend yield is 4.9% with 20-year payout history.
Risks
-
Net debt grew 34.1% over 3 years.
-
Operating margin compressed from 9.4% to -0.4% over 3 years.
-
Return on equity was -8.9% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
49.48x
P/B
0.68x
P/S
0.33x
EV/EBITDA
16.49x
PEG ratio
2.22x
Profitability
How much profit each dollar creates
Gross margin
12.9%
Operating margin
-0.4%
Net margin
-5.8%
ROE
-8.9%
ROA
-0.2%
Health
Liquidity and balance-sheet strength
Debt / equity
0.86x
Current ratio
1.27x
Quick ratio
0.67x
Total debt
$2.49B
Total cash
$369.00M
Growth
How the business has been compounding
Revenue TTM
$5.69B
Revenue 5Y CAGR
1.2%
EPS TTM
-1.88
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$310.00M
Free CF TTM
$116.00M
FCF margin
2.0%
Dividend
Shareholder payout
Yield
4.9%
Payout ratio
180.0%
Last ex-div date
2026-06-15