Celanese reported improved free cash flow of $461 million in the third quarter, up from $375 million a year ago. Celanese also announced a sale of a 19% stake in its food ingredients joint venture to partner Mitsui for $152 million in cash.
Celanese built out its core acetic acid production facilities at a significantly lower capital cost per ton than its competitors, thanks to the scale of its facilities (2 million tons versus the average of 0.5 million tons).
Celanese's acetyl chain business will face long-term margin pressure from a narrower spread between Brent oil and US natural gas.
Metric | CE | DD | EMN |
|---|---|---|---|
Price/Earnings (Normalized) | 9.21 | 22.44 | 13.22 |
Price/Book Value | 1.27 | 1.53 | 1.19 |
Price/Sales | 0.55 | 4.01 | 0.83 |
Price/Cash Flow | 6.38 | 72.67 | 5.43 |
Metric | CE | DD | EMN |
|---|---|---|---|
Quick Ratio | 0.68 | 1.68 | 0.75 |
Current Ratio | 1.26 | 2.36 | 1.57 |
Interest Coverage | 1.41 | 4.10 | 3.89 |
Metric | CE | DD | EMN |
|---|---|---|---|
Return on Assets (Normalized) | 1.86% | 3.90% | 4.29% |
Return on Equity (Normalized) | 9.82% | 6.13% | 10.83% |
Return on Invested Capital (Normalized) | 5.18% | 5.02% | 7.67% |
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