# LyondellBasell Industries N.V. (LYB)

> Source: Nexqual · https://nexqual.com/LYB · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, LyondellBasell Industries N.V. (LYB), nexqual.com/LYB" · informational, not investment advice.

**Price:** USD 65.37 (+3.32% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 63.27 · day 63.17–65.65 · 52w 41.58–83.94 · market cap $21.1B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $31.2B, net income -$346M (-1.1% margin), free cash flow $1.58B (SEC filings).
- 1 of 80 tracked superinvestors hold LYB (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $742K; 1 not under a Rule 10b5-1 plan ($742K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.70 on a 1–5 scale) (20 analysts), mean target USD 67.89 (range 56–88).
- Total return with dividends: 1Y +48.5% vs S&P 500 +14.9%; 5Y -5.4% vs S&P 500 +80.3%.
- Next earnings: 2026-10-30, EPS estimate USD 2.55, revenue estimate $8.89B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $46.2B | $50.5B | $33.3B | $33.4B | $30.2B | $31.2B |
| Gross profit | $8.78B | $6.60B | $4.90B | $4.64B | $2.58B | — |
| Operating income | $6.77B | $5.10B | $2.73B | $1.92B | -$420M | $963M |
| Net income | $5.62B | $3.89B | $2.12B | $1.37B | -$738M | -$346M |
| EPS (diluted) | $16.75 | $11.81 | $6.46 | $4.15 | -$2.34 | — |
| Free cash flow | $5.74B | $4.23B | $3.41B | $1.98B | $384M | $1.58B |
| Gross margin | 19.0% | 13.1% | 14.7% | 13.9% | 8.5% | — |
| Operating margin | 14.7% | 10.1% | 8.2% | 5.7% | -1.4% | 3.1% |
| Net margin | 12.2% | 7.7% | 6.4% | 4.1% | -2.4% | -1.1% |
| Revenue growth | +66.4% | +9.3% | -33.9% | +0.2% | -9.7% | — |
| Cash + short-term investments | $1.48B | $2.15B | $5.82B | $5.99B | $5.47B | — |
| Total debt | $11.6B | $11.0B | $11.1B | $11.0B | $12.7B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.7x · EV/EBITDA 12.5x · EV/Sales 0.9x · P/FCF 13.4x · P/B 2.0x · FCF yield 7.47% · Earnings yield -1.64% · Dividend yield (paid, TTM) 6.32% · Buyback yield (TTM) 0.00% · Net debt $8.61B · EV $29.7B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold LYB. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Christopher Davis | Davis Advisors | 1.97% | $458M | Added +55.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-13 | Kaplan Jeffrey A | EVP, Chief PC, Leg & Corp Ofc | 10,000 | $742K | 9.4% | No | Too little history (no open-market trades in 2024 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
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 2.70 on a 1–5 scale), 20 analysts; mean target USD 67.89 (low 56, high 88).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | RBC Capital | Target lowered | Outperform | $72 → $68 |
| 2026-10-13 | Barclays | Initiated | Equal-Weight | $66 |
| 2026-09-30 | Citigroup | Downgrade | Buy → Neutral | $72 → $63 |
| 2026-09-25 | UBS | Target lowered | Neutral | $64 → $62 |
| 2026-09-11 | Keybanc | Initiated | Sector Weight |  |
| 2026-08-05 | RBC Capital | Target raised | Outperform | $65 → $72 |
| 2026-08-04 | UBS | Target raised | Neutral | $56 → $64 |
| 2026-08-03 | BMO Capital | Target raised | Market Perform | $64 → $68 |
| 2026-08-03 | Mizuho | Target raised | Neutral | $62 → $66 |
| 2026-08-03 | JP Morgan | Upgrade | Neutral → Overweight | $75 → $80 |
| 2026-07-20 | Morgan Stanley | Target lowered | Overweight | $77 → $72 |
| 2026-07-06 | BMO Capital | Target lowered | Market Perform | $88 → $64 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +48.5% | -5.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +48.6% | -1.1% |
| Volatility (annualized) | 42.8% | 32.5% |
| Max drawdown | -35.5% (Mar 2026→Jul 2026) | -54.2% (Apr 2024→Nov 2025) |

## Peers (Specialty Chemicals)
IFF (International Flavors & Fragran) USD 93.83 +3.08% · DD (DuPont de Nemours, Inc.) USD 135.1 +0.71% · PPG (PPG Industries, Inc.) USD 113.09 +2.65% · SQM (Sociedad Quimica y Minera S.A.) USD 56.37 -3.54% · RPM (RPM International Inc.) USD 101.72 +1.84% · SSL (Sasol Ltd.) USD 17.46 +7.84%

## More
Full page: https://nexqual.com/LYB · 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 LYB's own 10-K filed 2026-02-20 (https://www.sec.gov/Archives/edgar/data/1489393/000148939326000012/lyb-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Covestro | "Joint Venture Relationships—We have two PO joint ventures with Covestro AG, one in the U.S. and another in Europe." |
| Partner | Louisiana Integrated PolyEthylene JV | "Joint Venture Relationships—We have a 50% interest in Louisiana Integrated PolyEthylene JV LLC ("Louisiana Joint Venture") which provides us with capacity of approximately 770 thousand tons of ethylene and 445 thousand t…" |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| I&D | $2.70B | 29.5% | +20.5% |
| O&P- Americas | $2.68B | 29.2% | +44.7% |
| O&P- EAI | $2.65B | 28.9% | +4.4% |
| APS | $1.01B | 11.0% | +10.2% |
| Technology | $140.0M | 1.5% | +23.9% |
| Total revenue | $9.18B | 100% | — |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Polyethylene | $2.25B | 24.5% | +19.3% |
| Polypropylene | $1.68B | 18.3% | +7.5% |
| Oxyfuels and related products | $1.42B | 15.4% | +23.1% |
| Olefins and co-products | $1.39B | 15.2% | +49.2% |
| Compounding and solutions | $1.01B | 11.0% | +10.2% |
| Propylene oxide and derivatives | $647.0M | 7.1% | +16.4% |
| Intermediate chemicals | $619.0M | 6.7% | +21.1% |
| Other | $168.0M | 1.8% | +14.3% |
| Total revenue | $9.18B | 100% | — |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $3.57B | 38.9% | +34.6% |
| Other | $2.49B | 27.1% | +13.9% |
| Germany | $748.0M | 8.2% | +34.3% |
| Mexico | $494.0M | 5.4% | +23.5% |
| China | $378.0M | 4.1% | -21.3% |
| Italy | $372.0M | 4.1% | +3.6% |
| Japan | $368.0M | 4.0% | +28.7% |
| France | $285.0M | 3.1% | -4.4% |
| Poland | $268.0M | 2.9% | +27.6% |
| The Netherlands | $201.0M | 2.2% | -11.8% |
| Total revenue | $9.18B | 100% | — |

## Company outlook (8-K filed 2026-07-31)

- "The second quarter included a $310 million cash contribution in connection with the completion of the European asset divestiture, as expected."
- "The company is on target to deliver $500 million incremental cash through its Cash Improvement Plan by the end of 2026, driven primarily by fixed-cost reductions and lower capital expenditures. 2 OUTLOOK As shown in recent weeks, conditions in the Middle East remain fluid, and we expect this to continue to be a source of volatility for energy and petrochemical value chains."
- "To align with global demand and the company's planned maintenance, LYB expects third quarter operating rates of 85% for North American O&P assets, 70% for European O&P assets and 85% for Intermediates & Derivatives assets."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.55 | $2.83 | -9.8% | $8.89B | 17 |
| Next quarter (ends 2026-12-31) | $1.79 | $1.85 | -3.5% | $8.38B | 17 |
| Current fiscal year (ends 2026-12-31) | $9.15 | $8.46 | +8.2% | $33.29B | 19 |
| Next fiscal year (ends 2027-12-31) | $6.34 | $6.47 | -2.1% | $32.40B | 17 |