# Element Solutions Inc (ESI)

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

**Price:** USD 33.11 (-8.89% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 33.11 · day 32.51–35.69 · 52w 22.86–49.25 · market cap null · NYQ

## Key facts
- Last four reported quarters (through Sep 30, 2026): revenue $3.49B, net income $205M (5.9% margin), free cash flow $183M (SEC filings).
- 2 of 80 tracked superinvestors hold ESI (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 1.92 on a 1–5 scale) (12 analysts), mean target USD 47.17 (range 42–55).
- Total return with dividends: 1Y +28.7% vs S&P 500 +14.9%; 5Y +54.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-21, EPS estimate USD 0.47, revenue estimate $969M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.40B | $2.55B | $2.33B | $2.46B | $2.55B | $3.49B |
| Gross profit | $961M | $953M | $919M | $1.04B | $1.07B | — |
| Operating income | $300M | $325M | $174M | $344M | $342M | $409M |
| Net income | $204M | $187M | $118M | $244M | $191M | $205M |
| EPS (diluted) | $0.82 | $0.76 | $0.49 | $1.01 | $0.79 | — |
| Free cash flow | $280M | $248M | $281M | $294M | $228M | $183M |
| Gross margin | 40.0% | 37.4% | 39.4% | 42.2% | 42.0% | — |
| Operating margin | 12.5% | 12.8% | 7.4% | 14.0% | 13.4% | 11.7% |
| Net margin | 8.5% | 7.3% | 5.1% | 9.9% | 7.5% | 5.9% |
| Revenue growth | +29.5% | +6.2% | -8.5% | +5.3% | +3.8% | — |
| Cash + short-term investments | $330M | $266M | $289M | $359M | $627M | — |
| Total debt | $1.93B | $1.91B | $1.95B | $1.84B | $1.64B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Sep 30, 2026)

P/E at fiscal year-ends: Dec 2025 31.7x, Dec 2024 25.3x, Dec 2023 47.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold ESI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $17.5M | Added +548.9% |
| Lee Ainslie | Maverick Capital | 0.01% | $612K | Reduced -70.6% |

## Analysts
Consensus Buy (mean 1.92 on a 1–5 scale), 12 analysts; mean target USD 47.17 (low 42, high 55).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Mizuho | Target raised | Neutral | $42 → $44 |
| 2026-10-13 | Barclays | Initiated | Overweight | $53 |
| 2026-10-05 | UBS | Target raised | Buy | $47 → $48 |
| 2026-10-01 | Mizuho | Target lowered | Neutral | $45 → $42 |
| 2026-09-18 | UBS | Target lowered | Buy | $49 → $47 |
| 2026-09-02 | Jefferies | Initiated | Buy | $55 |
| 2026-07-15 | Mizuho | Downgrade | Outperform → Neutral | $54 → $45 |
| 2026-07-09 | Truist Securities | Target raised | Buy | $47 → $48 |
| 2026-07-06 | BMO Capital | Target raised | Outperform | $45 → $50 |
| 2026-07-01 | Mizuho | Target raised | Outperform | $47 → $54 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +28.7% | +54.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +28.8% | +9.1% |
| Volatility (annualized) | 46.7% | 33.1% |
| Max drawdown | -35.1% (Jun 2026→Sep 2026) | -37.4% (Nov 2021→Oct 2022) |

## Peers
STRA (Strategic Education, Inc.) USD 81.59 +2.56% · CVSA (Covista Inc.) USD 131.62 +3.70% · CECO (CECO Environmental Corp.) USD 51.51 -11.57% · COCO (The Vita Coco Company, Inc.) USD 59 -7.09% · APEI (American Public Education, Inc.) USD 48.86 +2.26%

## More
Full page: https://nexqual.com/ESI · 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

## Revenue by business segment (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Electronics | $779.6M | 78.3% | +67.6% |
| Specialties | $215.7M | 21.7% | +13.0% |
| Total revenue | $995.3M | 100% | — |

## Revenue by product line (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Assembly Solutions | $368.6M | 37.0% | +55.0% |
| Industrial Solutions | $169.8M | 17.1% | +2.7% |
| Circuitry Solutions | $162.2M | 16.3% | +17.7% |
| Micromax | $137.8M | 13.8% | — |
| Semiconductor Solutions | $111.0M | 11.2% | +23.9% |
| EFC | $23.4M | 2.4% | — |
| Energy Solutions | $22.5M | 2.3% | -11.8% |
| Total revenue | $995.3M | 100% | — |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Other Countries | $1.47B | 57.6% | +4.1% |
| China | $557.9M | 21.9% | +16.5% |
| United States | $524.3M | 20.6% | -7.4% |
| Total revenue | $2.55B | 100% | — |

## Company outlook (8-K filed 2026-10-21)

- "The Company now expects full year 2026 adjusted EBITDA to be approximately $720 million, inclusive of full year contributions from the Micromax and EFC acquisitions and assuming stable exchange rates and metal prices, and an adjusted EPS growth rate of over 20% for the full year."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.47 | $0.46 | +1.0% | $969.1M | 11 |
| Next quarter (ends 2027-03-31) | $0.48 | $0.47 | +2.1% | $953.7M | 6 |
| Current fiscal year (ends 2026-12-31) | $1.83 | $1.78 | +3.2% | $3.78B | 12 |
| Next fiscal year (ends 2027-12-31) | $2.16 | $2.05 | +5.4% | $4.08B | 12 |

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

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 46.9% | ±11.2% |
| 2026-12-18 | 56 | 39.0% | ±12.8% |
| 2027-02-19 | 119 | 48.0% | ±23.4% |
| 2027-05-21 | 210 | 46.4% | ±29.2% |