# Huntsman Corporation (HUN)

> Source: Nexqual · https://nexqual.com/HUN · data as of 2026-10-23 18:18 UTC · cite as "Nexqual, Huntsman Corporation (HUN), nexqual.com/HUN" · informational, not investment advice.

**Price:** USD 8.84 (+1.38% today) · US market open, as of October 23, 2026 at 18:18 UTC; quotes may be delayed. Prev close 8.72 · day 8.53–9 · 52w 7.3–16.09 · market cap $1.55B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $5.90B, net income -$180M (-3.1% margin), free cash flow -$9.0M (SEC filings).
- 2 of 80 tracked superinvestors hold HUN (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $981K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.07 on a 1–5 scale) (15 analysts), mean target USD 10.29 (range 9–13).
- Total return with dividends: 1Y +4.1% vs S&P 500 +14.5%; 5Y -66.7% vs S&P 500 +77.2%.
- Next earnings: 2026-11-02, EPS estimate USD 0.07, revenue estimate $1.61B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.67B | $8.02B | $6.11B | $6.04B | $5.68B | $5.90B |
| Gross profit | $1.58B | $1.55B | $906M | $866M | $751M | — |
| Operating income | $731M | $672M | $84.0M | -$25.0M | -$131M | -$32.0M |
| Net income | $1.04B | $460M | $101M | -$189M | -$284M | -$180M |
| EPS (diluted) | $4.72 | $2.27 | $0.57 | -$1.10 | -$1.65 | — |
| Free cash flow | $626M | $642M | -$21.0M | $79.0M | $116M | -$9.0M |
| Gross margin | 20.7% | 19.3% | 14.8% | 14.3% | 13.2% | — |
| Operating margin | 9.5% | 8.4% | 1.4% | -0.4% | -2.3% | -0.5% |
| Net margin | 13.6% | 5.7% | 1.7% | -3.1% | -5.0% | -3.1% |
| Revenue growth | +41.5% | +4.6% | -23.8% | -1.2% | -5.8% | — |
| Cash + short-term investments | $1.04B | $654M | $540M | $340M | $429M | — |
| Total debt | $1.55B | $1.74B | $1.69B | $1.83B | $2.01B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.3x · EV/EBITDA 12.5x · EV/Sales 0.6x · P/B 0.6x · FCF yield -0.58% · Earnings yield -11.61% · Dividend yield (paid, TTM) 5.87% · Net debt $1.74B · EV $3.29B
P/E at fiscal year-ends: Dec 2023 44.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold HUN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 0.16% | $54.8M | Reduced -11.3% |
| First Eagle Investment | First Eagle Investment Management | 0.02% | $11.6M | Added +42.1% |

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $981K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-03 | Huntsman Peter R | Chairman, President & CEO | 100,000 | $981K | 9.81 | Too little history (no open-market trades in 2023 or 2024) |
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 Hold (mean 3.07 on a 1–5 scale), 15 analysts; mean target USD 10.29 (low 9, high 13).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | RBC Capital | Target lowered | Sector Perform | $10 → $9 |
| 2026-10-13 | Barclays | Initiated | Equal-Weight | $10 |
| 2026-10-06 | Wells Fargo | Target lowered | Equal-Weight | $11 → $9 |
| 2026-10-05 | UBS | Target lowered | Neutral | $10 → $9 |
| 2026-10-02 | Jefferies | Target lowered | Buy | $16 → $11 |
| 2026-09-30 | Citigroup | Target lowered | Neutral | $11 → $9 |
| 2026-09-11 | Keybanc | Initiated | Overweight | $14 |
| 2026-08-04 | Wells Fargo | Target lowered | Equal-Weight | $14 → $11 |
| 2026-08-03 | UBS | Target lowered | Neutral | $11 → $10 |
| 2026-08-03 | RBC Capital | Target lowered | Sector Perform | $11 → $10 |
| 2026-07-01 | Mizuho | Target lowered | Neutral | $14 → $13 |
| 2026-06-30 | B of A Securities | Target raised | Underperform | $10 → $11 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +4.1% | -66.7% |
| S&P 500 (SPY) | +14.5% | +77.2% |
| Per year | +4.1% | -19.7% |
| Volatility (annualized) | 60.5% | 41.8% |
| Max drawdown | -48.7% (Jun 2026→Oct 2026) | -76.7% (Feb 2022→Oct 2025) |

## Peers (Chemicals)
REX (REX American Resources Corporat) USD 39.68 -0.35% · OLN (Olin Corporation) USD 15.68 +0.90% · GPRE (Green Plains, Inc.) USD 14.02 +0.79% · WLKP (Westlake Chemical Partners LP) USD 21.19 +1.10% · LXU (LSB Industries, Inc.) USD 9.99 +2.36% · BAK (Braskem SA) USD 1.66 +3.75%

## More
Full page: https://nexqual.com/HUN · 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 HUN's own 10-K filed 2026-02-18 (https://www.sec.gov/Archives/edgar/data/1307954/000143774926004524/hun20251231_10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Chevron (CVX) | "Our amines customers include Afton, Bayer, Chevron, DuPont, Evonik, Hipower, Infineum, Lubrizol, Quadra Chemicals and Univar." |
| Customer | DuPont (DD) | "Our amines customers include Afton, Bayer, Chevron, DuPont, Evonik, Hipower, Infineum, Lubrizol, Quadra Chemicals and Univar." |
| Partner | LANXESS AG (LNXSY) | "Lanxess AG ("Lanxess") is our joint venture partner in Rubicon LLC ("Rubicon"), which owns aniline, nitrobenzene and DPA manufacturing facilities in Geismar, Louisiana." |
| Partner | Rubicon | "Lanxess AG ("Lanxess") is our joint venture partner in Rubicon LLC ("Rubicon"), which owns aniline, nitrobenzene and DPA manufacturing facilities in Geismar, Louisiana." |
| Partner | Huntsman Polyurethanes Shanghai | "Huntsman Polyurethanes Shanghai Ltd. ("HPS") is our splitting joint venture with Shanghai Chlor-Alkali Chemical Company, Ltd that manufactures pure MDI, polymeric MDI, MDI variants and formulated MDI systems." |
| Competitor | 3M (MMM) | "Our major competitors include 3M, Henkel and Sumitomo." |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Polyurethanes | $1.08B | 64.4% | +15.8% |
| Advanced Materials | $313.0M | 18.7% | +18.6% |
| Performance Products | $283.0M | 16.9% | +4.8% |
| Total revenue | $1.68B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Diversified | $1.08B | 64.4% | +15.8% |
| Specialty | $300.0M | 17.9% | +19.0% |
| Product & Service Other | $13.0M | 0.8% | +8.3% |
| Total revenue | $1.68B | 100% | — |
The lines above cover 83.1% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| US & Canada | $658.0M | 39.3% | +17.1% |
| Asia Pacific | $448.0M | 26.7% | +10.3% |
| Europe | $441.0M | 26.3% | +14.0% |
| Rest Of World | $116.0M | 6.9% | +12.6% |
| Total revenue | $1.68B | 100% | — |

## Company outlook (8-K filed 2026-07-30)

- "During 2026, we expect capital expenditures to be approximately $170 million."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.07 | $0.07 | +1.8% | $1.61B | 14 |
| Next quarter (ends 2026-12-31) | $-0.12 | $-0.13 | -8.8% | $1.46B | 14 |
| Current fiscal year (ends 2026-12-31) | $-0.25 | $-0.18 | +34.8% | $6.16B | 14 |
| Next fiscal year (ends 2027-12-31) | $0.24 | $0.19 | +24.6% | $6.28B | 9 |

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

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±11.0%; last 8 reports averaged ±8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 46.4% | ±11.0% |
| 2026-12-18 | 56 | 48.6% | ±16.2% |
| 2027-01-15 | 84 | 52.0% | ±20.5% |
| 2027-02-19 | 119 | 47.2% | ±22.0% |
| 2027-05-21 | 210 | 50.6% | ±30.6% |