Celanese Corporation (CE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+290.9%

$190.21

vs $48.66 price

Levered DCF

$62.44

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.29

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-3.97×	-4.97×	8.63×	5.85×	9.89×	7.71×	17.9×	10.01×
P/B	1.14×	1.46×	2.38×	1.97×	4.46×	4.34×	6.09×	4.05×
P/S	0.49×	0.74×	1.55×	1.15×	2.19×	2.71×	2.42×	1.69×
EV / EBITDA	48.66×	38.87×	11.17×	10.72×	8.23×	6.75×	12.96×	7.65×
Gross margin	18.8%	22.9%	23.8%	24.6%	31.4%	22.9%	25.5%	27.6%
Operating margin	8.0%	-6.8%	15.4%	14.2%	22.8%	11.7%	13.2%	18.6%
Net margin	-12.2%	-14.8%	17.9%	19.6%	22.1%	35.1%	13.5%	16.9%
Current ratio	1.55×	1.34×	1.53×	1.63×	1.52×	1.91×	1.58×	1.62×
Debt / equity	3.19×	2.5×	1.99×	2.68×	1×	1.13×	1.64×	1.18×
Interest coverage	1×	-1.03×	2.34×	3.4×	19.46×	6.09×	7.01×	10.67×
Dividend yield	0.3%	4.1%	1.8%	2.7%	1.6%	1.9%	2.0%	2.3%
Payout ratio	-1.1%	-20.2%	15.6%	15.7%	16.1%	14.8%	35.2%	23.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-28.8%	-29.4%	27.6%	33.6%	45.1%	56.3%	34.0%	40.4%
Return on invested capital	3.7%	-3.4%	7.0%	5.8%	16.1%	6.2%	8.8%	13.3%
Return on assets	-5.4%	-6.7%	7.4%	7.2%	15.8%	18.2%	9.0%	13.0%
Free cash flow yield	17.3%	7.0%	7.9%	11.5%	6.9%	6.4%	7.1%	10.1%
Earnings yield	-25.2%	-20.1%	11.6%	17.1%	10.1%	13.0%	5.6%	10.0%
Enterprise value	$16.3B	$19.6B	$29.2B	$24.7B	$22.4B	$18.3B	$18.9B	$15.2B
Net debt / EBITDA	34.84×	23.84×	4.7×	5.91×	1.35×	1.11×	2.5×	1.56×
Cash conversion cycle (days)	100	106	97	142	94	95	89	83