A Business at a Glance
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Orion S.A.
OEC
$395M
Mkt Cap
$6.99
+1.90%
Orion S.A. (OEC) has a 5-year average return on invested capital (ROIC) of 8.2%. This is below average and may indicate limited pricing power.
Orion S.A. (OEC) has a market capitalization of $394M. It is classified as a small-cap stock.
Yes, Orion S.A. (OEC) pays a dividend with a trailing twelve-month yield of 1.19%. The company also returns capital through share buybacks, with a buyback yield of 1.47%.
Orion S.A. (OEC) operates in the Miscellaneous Chemical Products industry, within the Materials sector.
Orion S.A. (OEC) reported annual revenue of $1.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
Orion S.A. (OEC) has a net profit margin of -3.9%. The company is currently unprofitable.
Orion S.A. (OEC) generated $55 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Orion S.A. (“Orion”, “Company”, “we” or “our”), is a Luxembourg joint stock corporation (société anonyme or S.A.), incorporated in 2014 as a Luxembourg limited liability company (société à responsabilité limitée). Our registered office is located at 6, Route de Trèves, L-2633 Senningerberg (Municipality of Niederanven), Grand Duchy of Luxembourg. Our principal executive office is located in Spring, Texas, U.S. We are one of the largest global producers of Specialty and Rubber Carbon Black. Carbon black is a powdered form of carbon that is used to create a variety of desired physical, electrical and optical qualities of various materials. Carbon black products are primarily used as additives for the production of polymers, batteries, printing inks and coatings (“Specialty Carbon Black” or “Specialty”) and in the reinforcement of tires and other rubber applications (“Rubber Carbon Black” or “Rubber”).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.8B | 1.8B | 1.9B | 1.9B | 2.0B | 1.5B |
| Net Income | -89M | -70M | 44M | 104M | 106M | 135M |
| EPS | $-1.59 | $-1.24 | $0.76 | $1.73 | $1.73 | $2.21 |
| Free Cash Flow | 35M | 55M | -81M | 173M | -152M | -70M |
| ROIC | 0.4% | 1.7% | 5.6% | 8.7% | 9.6% | 15.5% |
| Gross Margin | 19.1% | 19.9% | 22.8% | 23.8% | 22.1% | 25.0% |
| Debt/Equity | 3.56 | 3.41 | 2.51 | 2.03 | 2.59 | 2.98 |
| Dividends/Share | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.02 |
| Operating Income | 7.7M | 28M | 103M | 205M | 197M | 229M |
| Operating Margin | 0.4% | 1.5% | 5.5% | 10.8% | 9.7% | 14.8% |
| ROE | -23.5% | -16.3% | 9.3% | 22.1% | 27.3% | 53.8% |
| Shares Outstanding | 56M | 57M | 58M | 60M | 61M | 61M |
| Metric | 2015 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 1.1B | 1.1B | 1.3B | 1.6B | 1.5B | 1.1B | 1.5B | 2.0B | 1.9B | 1.9B | 1.8B | 1.8B |
| Gross Margin | 28.8% | 32.9% | 28.4% | 27.2% | 26.4% | 25.7% | 25.0% | 22.1% | 23.8% | 22.8% | 19.9% | 19.1% |
| R&D | 13M | 16M | 18M | 20M | 20M | 20M | 22M | 22M | 25M | 27M | 28M | 28M |
| SG&A | N/A | 202M | 207M | 232M | 207M | 176M | 210M | 227M | 222M | 238M | 231M | 231M |
| EBIT | 122M | 117M | 138M | 196M | 147M | 74M | 229M | 197M | 205M | 103M | 28M | 7.7M |
| Op. Margin | 11.0% | 10.3% | 10.4% | 12.4% | 10.0% | 6.5% | 14.8% | 9.7% | 10.8% | 5.5% | 1.5% | 0.4% |
| Net Income | 43M | 50M | 65M | 121M | 87M | 18M | 135M | 106M | 104M | 44M | -70M | -89M |
| Net Margin | 3.9% | 4.3% | 4.9% | 7.7% | 5.9% | 1.6% | 8.7% | 5.2% | 5.5% | 2.4% | -3.9% | -5.0% |
| Non-Recurring | 3.0M | 29M | 6.5M | 16M | 9.1M | 17M | 2.2M | 1.9M | 0 | 0 | 81M | 81M |
| Returns on Capital | ||||||||||||
| ROIC | N/A | 7.4% | 30.8% | 18.5% | 12.8% | 5.8% | 15.5% | 9.6% | 8.7% | 5.6% | 1.7% | 0.4% |
| ROE | N/A | 92.2% | 86.5% | 95.4% | 50.4% | 9.9% | 53.8% | 27.3% | 22.1% | 9.3% | -16.3% | -23.5% |
| ROA | N/A | 9.4% | 5.8% | 10.0% | 6.9% | 1.4% | 8.9% | 6.0% | 5.6% | 2.4% | -3.7% | -4.6% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 214M | 177M | 148M | 122M | 232M | 125M | 145M | 81M | 346M | 125M | 216M | 203M |
| Free Cash Flow | 163M | 111M | 49M | 11M | 73M | -14M | -70M | -152M | 173M | -81M | 55M | 35M |
| Owner Earnings | 142M | 85M | 41M | 9.9M | 125M | 24M | 36M | -32M | 217M | -15M | 70M | 58M |
| CapEx | 52M | 66M | 99M | 111M | 159M | 139M | 215M | 233M | 173M | 207M | 161M | 168M |
| Maint. CapEx | 73M | 88M | 98M | 98M | 97M | 97M | 104M | 106M | 113M | 125M | 132M | 133M |
| Growth CapEx | 0 | 0 | 625K | 13M | 62M | 42M | 111M | 127M | 60M | 81M | 29M | 35M |
| D&A | 73M | 88M | 98M | 98M | 97M | 97M | 104M | 106M | 113M | 125M | 132M | 133M |
| CapEx/OCF | 24.0% | 32.3% | 61.1% | 95.2% | 67.3% | 115.6% | 147.9% | 287.4% | 50.0% | 165.0% | 74.6% | 82.7% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 40M | 44M | 46M | 48M | 48M | 12M | 0 | 5.0M | 4.9M | 4.8M | 4.7M | 4.7M |
| Dividend Yield | 4.8% | 5.3% | 4.0% | 2.9% | 4.2% | 1.6% | N/A | 0.5% | 0.4% | 0.4% | 0.8% | 1.2% |
| Share Buybacks | 0 | 3.8M | 0 | 4.9M | 0 | 0 | 0 | 4.3M | 66M | 27M | 25M | 5.8M |
| Buyback Yield | N/A | N/A | N/A | 0.4% | N/A | N/A | N/A | 0.4% | 3.9% | 2.9% | 8.5% | 1.5% |
| Stock-Based Comp | N/A | 4.0M | 8.8M | 14M | 9.4M | 4.4M | 5.2M | 7.7M | 15M | 15M | 14M | 12M |
| Debt Repayment | 0 | 52M | 29M | 8.3M | 8.0M | 8.2M | 213M | 3.0M | 3.0M | 4.1M | 8.9M | 8.9M |
| Balance Sheet | ||||||||||||
| Net Debt | N/A | -78M | 615M | 662M | 662M | 775M | 887M | 1.1B | 933M | 1.1B | 1.3B | 1.3B |
| Cash & Equiv. | 74M | 78M | 72M | 57M | 64M | 65M | 66M | 61M | 38M | 44M | 61M | 51M |
| Long-Term Debt | N/A | 0 | 681M | 644M | 630M | 656M | 631M | 657M | 677M | 647M | 675M | 663M |
| Debt/Equity | N/A | 0.00 | 7.21 | 4.53 | 3.90 | 4.64 | 2.98 | 2.59 | 2.03 | 2.51 | 3.41 | 3.56 |
| Interest Coverage | 3.4 | 2.7 | 3.1 | 6.9 | 5.3 | 1.9 | 6.0 | 4.9 | 4.0 | 2.1 | 0.5 | 0.5 |
| Equity | N/A | 55M | 95M | 159M | 186M | 181M | 320M | 459M | 479M | 475M | 385M | 380M |
| Total Assets | N/A | 1.1B | 1.2B | 1.3B | 1.3B | 1.4B | 1.6B | 1.9B | 1.8B | 1.9B | 1.9B | 1.9B |
| Total Liabilities | N/A | 1.0B | 1.1B | 1.1B | 1.1B | 1.2B | 1.3B | 1.4B | 1.4B | 1.4B | 1.5B | 63M |
| Intangibles | N/A | N/A | 71M | 95M | 51M | 47M | 36M | 28M | 26M | 19M | 14M | 12M |
| Retained Earnings | N/A | 44M | -82M | 39M | 78M | 84M | 218M | 319M | 418M | 457M | 382M | 371M |
| Working Capital | N/A | 195M | 237M | 255M | 223M | 176M | 216M | 226M | 206M | 97M | 17M | 1.8M |
| Current Assets | 52M | 414M | 522M | 575M | 508M | 500M | 665M | 779M | 646M | 613M | 644M | 662M |
| Current Liabilities | N/A | 219M | 285M | 320M | 285M | 325M | 449M | 553M | 440M | 517M | 626M | 660M |
| Per Share Data | ||||||||||||
| EPS | 0.72 | 0.82 | 1.07 | 1.99 | 1.42 | 0.30 | 2.21 | 1.73 | 1.73 | 0.76 | -1.24 | -1.59 |
| Owner EPS | 2.38 | 1.41 | 0.67 | 0.16 | 2.05 | 0.40 | 0.59 | -0.53 | 3.64 | -0.26 | 1.24 | 1.02 |
| Book Value | N/A | 0.91 | 1.57 | 2.61 | 3.04 | 2.98 | 5.25 | 7.48 | 8.00 | 8.17 | 6.80 | 6.73 |
| Cash Flow/Share | 3.60 | 2.94 | 2.44 | 2.00 | 3.78 | 2.07 | 2.38 | 1.32 | 5.78 | 2.15 | 3.82 | 0.78 |
| Dividends/Share | 0.67 | 0.74 | 0.77 | 0.80 | 0.80 | 0.20 | 0.02 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 |
| Shares Out. | 59.5M | 60.4M | 60.6M | 61.0M | 61.2M | 60.7M | 61.0M | 61.4M | 59.8M | 58.2M | 56.5M | 56.4M |
| Valuation | ||||||||||||
| P/E Ratio | 15.1 | 23.4 | 21.3 | 11.5 | 13.2 | 54.7 | 8.1 | 9.9 | 16.1 | 20.5 | N/A | -4.4 |
| P/FCF | 4.0 | 9.4 | 28.4 | 128.1 | 15.7 | N/A | N/A | N/A | 9.6 | N/A | 5.3 | 11.2 |
| EV/EBIT | N/A | N/A | 14.0 | 10.2 | 11.7 | 22.7 | 8.3 | 10.7 | 12.4 | 19.3 | 52.9 | 220.2 |
| Price/Book | 12.9 | 220.9 | 14.5 | 8.8 | 6.2 | 5.5 | 3.4 | 2.3 | 3.5 | 1.9 | 0.8 | 1.0 |
| Price/Sales | 0.7 | 0.8 | 0.9 | 1.0 | 0.8 | 0.7 | 0.7 | 0.5 | 0.7 | 0.6 | 0.3 | 0.2 |
| FCF Yield | 25.3% | 10.8% | 3.5% | 0.8% | 6.4% | -1.4% | -6.4% | -14.4% | 10.4% | -9.0% | 18.8% | 8.9% |
| Market Cap | 643M | 1.0B | 1.4B | 1.4B | 1.1B | 996M | 1.1B | 1.1B | 1.7B | 907M | 291M | 394M |
| Avg. Price | 13.88 | 13.75 | 18.84 | 26.56 | 18.67 | 12.45 | 18.21 | 16.51 | 22.53 | 20.71 | 10.25 | 6.99 |
| Year-End Price | 10.84 | 17.34 | 22.82 | 22.96 | 18.72 | 16.42 | 17.87 | 17.21 | 27.83 | 15.59 | 5.15 | 6.99 |
Orion S.A. passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 7.2x vs a median of 9.6x. The company's 5-year average ROIC is 8.2% with a gross margin of 22.7%. Total shareholder yield (dividends + buybacks) is 2.7%. At current prices, the estimated annualized return to fair value is +24.5%.
Orion S.A. (OEC) has a debt-to-equity ratio of 3.41. This indicates higher leverage, which may increase financial risk.
Orion S.A. (OEC) reported earnings per share (EPS) of $-1.24 in its most recent fiscal year.
Orion S.A. (OEC) has a return on equity (ROE) of -16.3%. A negative ROE may indicate losses or negative equity.
Orion S.A. (OEC) has a 5-year average gross margin of 22.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 11 years of financial data for Orion S.A. (OEC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Orion S.A. (OEC) has a book value per share of $6.80, based on its most recent annual SEC filing.