Olin serves many end markets, concentrating production around industrial manufacturing, construction, and small-arms ammunition. As the world's largest chlor-alkali producer, it manufactures caustic soda, chlorine, and hydrogen (collectively the electrochemical unit, or ECU). North America is heavily concentrated, with the top five producers controlling over three-fourths of the market; Olin alone accounts for roughly a third.
Global industry rationalization will tighten supply for chlor-alkalis, allowing Olin to achieve $1.5 billion-$2.0 billion in midcycle EBITDA.
Epoxy oversupply is structural and will force Olin to exit the business and realize cash losses associated with shutdowns.
|
Metric
|
OLN
|
4063
|
WLK
|
|---|---|---|---|
Price/Earnings (Normalized) | 24.07 | 23.44 | 84.33 |
Price/Book Value | 0.99 | 2.41 | 0.89 |
Price/Sales | 0.25 | 4.24 | 0.69 |
Price/Cash Flow | 6.88 | 14.53 | 8.25 |
|
Metric
|
OLN
|
4063
|
WLK
|
|---|---|---|---|
Quick Ratio | 0.76 | 4.21 | 1.65 |
Current Ratio | 1.36 | 5.94 | 2.45 |
Interest Coverage | −0.52 | 239.57 | −6.00 |
|
Metric
|
OLN
|
4063
|
WLK
|
|---|---|---|---|
Return on Assets (Normalized) | −1.91% | 12.95% | 0.67% |
Return on Equity (Normalized) | −7.75% | 16.23% | 1.45% |
Return on Invested Capital (Normalized) | −0.28% | 14.06% | 1.27% |
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1-Day Chart
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United States