# Celanese Corporation (CE)

> Source: Nexqual · https://nexqual.com/CE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Celanese Corporation (CE), nexqual.com/CE" · informational, not investment advice.

**Price:** USD 47.22 (-0.11% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 47.27 · day 46.12–47.51 · 52w 35.13–70.7 · market cap $5.18B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $9.71B, net income -$1.17B (-12.0% margin), free cash flow $708M (SEC filings).
- 1 of 80 tracked superinvestors hold CE (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market purchases, last ~7 months: 3 Form 4 filings, $230K; 1 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.39 on a 1–5 scale) (18 analysts), mean target USD 61.17 (range 46–86).
- Total return with dividends: 1Y +11.8% vs S&P 500 +14.9%; 5Y -69.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 1.56, revenue estimate $2.62B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $8.54B | $9.67B | $10.9B | $10.3B | $9.54B | $9.71B |
| Gross profit | $2.68B | $2.38B | $2.58B | $2.34B | $1.95B | — |
| Operating income | $1.95B | $1.38B | $1.67B | -$720M | -$786M | -$692M |
| Net income | $1.89B | $1.89B | $1.94B | -$1.54B | -$1.17B | -$1.17B |
| EPS (diluted) | $16.86 | $17.34 | $17.76 | -$14.11 | -$10.64 | — |
| Free cash flow | $1.29B | $1.28B | $1.33B | $531M | $803M | $708M |
| Gross margin | 31.4% | 24.6% | 23.6% | 22.8% | 20.5% | — |
| Operating margin | 22.8% | 14.2% | 15.2% | -7.0% | -8.2% | -7.1% |
| Net margin | 22.1% | 19.6% | 17.8% | -15.0% | -12.2% | -12.0% |
| Revenue growth | +51.0% | +13.3% | +13.0% | -6.0% | -7.1% | — |
| Cash + short-term investments | $546M | — | — | $962M | $1.26B | — |
| Total debt | $3.97B | $14.7B | $14.8B | $14.0B | $13.8B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.5x · EV/EBITDA 119.9x · EV/Sales 1.8x · P/FCF 7.3x · P/B 1.2x · FCF yield 13.66% · Earnings yield -22.56% · Dividend yield (paid, TTM) 0.25% · Net debt $12.0B · EV $17.1B
P/E at fiscal year-ends: Dec 2023 8.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold CE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Dodge & Cox Funds | Dodge & Cox | 0.37% | $703M | Reduced -0.4% |

## Insider purchases (SEC Form 4, open-market, last ~7 months)
3 purchases, $230K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-14 | Kyrish Chuck | SVP & CFO | 2,300 | $105K | 45.52 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-11 | Duffie Ashley B | SVP & GC | 600 | $27K | 45.6 | Too little history (no open-market trades in 2023–2025) |
| 2026-08-11 | Murray Mark Christopher | SVP - Acetyls | 2,153 | $98K | 45.52 | Opportunistic (traded every year 2023–2025, no repeating month) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.39 on a 1–5 scale), 18 analysts; mean target USD 61.17 (low 46, high 86).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | RBC Capital | Target raised | Sector Perform | $45 → $46 |
| 2026-10-13 | Barclays | Initiated | Equal-Weight | $49 |
| 2026-09-30 | Citigroup | Target lowered | Buy | $60 → $58 |
| 2026-09-11 | Keybanc | Initiated | Overweight | $57 |
| 2026-08-06 | Wells Fargo | Target lowered | Overweight | $80 → $65 |
| 2026-08-05 | BMO Capital | Target lowered | Market Perform | $57 → $54 |
| 2026-07-16 | Morgan Stanley | Target lowered | Equal-Weight | $72 → $58 |
| 2026-07-06 | BMO Capital | Target lowered | Market Perform | $80 → $57 |
| 2026-07-01 | Mizuho | Target lowered | Neutral | $65 → $55 |
| 2026-06-30 | B of A Securities | Target lowered | Buy | $72 → $63 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +11.8% | -69.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +11.8% | -21.3% |
| Volatility (annualized) | 51.8% | 47.0% |
| Max drawdown | -37.6% (May 2026→Aug 2026) | -77.5% (Mar 2024→Nov 2025) |

## Peers (Chemicals)
MEOH (Methanex Corporation) USD 60.74 -3.80% · OLN (Olin Corporation) USD 15.54 +4.09% · HUN (Huntsman Corporation) USD 8.72 +5.95% · REX (REX American Resources Corporat) USD 39.82 -2.40% · DOW (Dow Inc.) USD 31.81 +4.71% · GPRE (Green Plains, Inc.) USD 13.91 -1.77%

## More
Full page: https://nexqual.com/CE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CE's own 10-K filed 2026-02-24 (https://www.sec.gov/Archives/edgar/data/1306830/000130683026000031/ce-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Fairway Methanol | "We have a joint venture, Fairway Methanol LLC ("Fairway"), with Mitsui, in which we own a 50% interest, for the production of methanol at our integrated chemical plant in Clear Lake, Texas." |
| Partner | China National Tobacco | "China National Tobacco Corporation, a Chinese state-owned tobacco entity, has been our venture partner for over three decades." |
| Partner | LANXESS AG (LNXSY) | "DuBay Polymer GmbH is a manufacturing joint venture with Lanxess AG for the production of PBT-based products." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Engineered Materials | $1.45B | 52.5% | +0.3% | $156.0M | 10.8% |
| Acetyl Chain | $1.33B | 48.3% | +19.2% | $237.0M | 17.8% |
| Total revenue | $2.75B | 100% | — | $276.0M | 10.0% |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $2.57B | 26.9% | -6.1% |
| Switzerland | $2.47B | 25.9% | +740.1% |
| China | $1.79B | 18.8% | -9.7% |
| Germany | $750.0M | 7.9% | -65.9% |
| Singapore | $707.0M | 7.4% | -29.4% |
| Japan | $290.0M | 3.0% | +4.3% |
| Mexico | $243.0M | 2.5% | -29.4% |
| Other Foreign Countries | $212.0M | 2.2% | -54.7% |
| India | $148.0M | 1.6% | -4.5% |
| Brazil | $127.0M | 1.3% | -9.3% |
| South Korea | $127.0M | 1.3% | -9.3% |
| Canada | $108.0M | 1.1% | -15.0% |
| Belgium | $2.0M | 0.0% | -99.5% |
| Total revenue | $9.54B | 100% | — |

## Company outlook (8-K filed 2026-08-04)

- "Together with our productivity, portfolio, and footprint actions, these initiatives position Celanese to deliver strong performance in 2026 and create additional earnings growth opportunities in the years ahead," Richardson concluded. 4 Reconciliations of forecasted non-GAAP measures such as adjusted earnings per share, adjusted EBIT, operating EBITDA or free cash flow to the equivalent U.S."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.56 | $1.77 | -11.5% | $2.62B | 17 |
| Next quarter (ends 2026-12-31) | $1.16 | $1.21 | -4.4% | $2.33B | 17 |
| Current fiscal year (ends 2026-12-31) | $6.00 | $6.05 | -0.8% | $10.01B | 18 |
| Next fiscal year (ends 2027-12-31) | $6.03 | $6.42 | -6.2% | $9.94B | 17 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±13.9%; last 8 reports averaged ±12.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 61.2% | ±13.9% |
| 2026-12-18 | 56 | 53.7% | ±16.9% |
| 2027-01-15 | 84 | 48.1% | ±18.5% |
| 2027-03-19 | 147 | 53.2% | ±26.5% |
| 2027-06-17 | 237 | 54.7% | ±34.1% |
| 2027-09-17 | 329 | 50.3% | ±36.8% |