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ValueScreener company report

Celanese Corporation (CE)

NYSE / Basic Materials / Chemicals

Share price

46.44 USD Market dataClose of Oct 15, 2026

Market capitalisation

5.10B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Feb 24, 2026
Ratios computed
Oct 15, 2026
Filed years
18, FY2007 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

-4.6% Computed

From the FY2025 filing

Read quality

Valuation

Price to book

1.26x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

15.8% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 5.39B USDFY2016 Net income: 900.0M USDFY2017 Revenue: 6.14B USDFY2017 Net income: 843.0M USDFY2018 Revenue: 7.16B USDFY2018 Net income: 1.21B USDFY2019 Revenue: 6.30B USDFY2019 Net income: 852.0M USDFY2020 Revenue: 5.66B USDFY2020 Net income: 1.99B USDFY2021 Revenue: 8.54B USDFY2021 Net income: 1.89B USDFY2022 Revenue: 9.67B USDFY2022 Net income: 1.89B USDFY2023 Revenue: 10.93B USDFY2023 Net income: 1.94B USDFY2024 Revenue: 10.27B USDFY2024 Net income: -1.54B USDFY2025 Revenue: 9.54B USDFY2025 Net income: -1.17B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
1 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it good

Return on invested capital was -4.6% in FY2025, in the band labelled "Likely below the cost of capital" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns below the usual cost of the capital employed.

Today, against the Basic Materials sector (99 companies), -4.6% sits at the 15th percentile; the middle half of that group runs from 1.5% to 12.9%.

Is it safe

Debt to equity was 3.23 in FY2025, in the band labelled "Heavily leveraged" (2.00 and above), on lines anchored on Graham's defensive-investor criteria, suggesting heavy reliance on borrowing.

Today, against the Basic Materials sector (146 companies), 3.23 sits at the 96th percentile; the middle half of that group runs from 0.18 to 0.89.

Year by year against peers
Whether Celanese Corporation's return on equity stayed above the median of the Basic Materials sector, year by year. (FY2016 to FY2025, 10 fiscal years of Celanese Corporation with a comparable figure)
The direction
Which way Celanese Corporation's return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Celanese Corporation)
What could explain it
What in Celanese Corporation's filed statements could explain the movements. (8 readings drawn from the statement lines Celanese Corporation filed)
What to check next
What to check next on Celanese Corporation, and where in its filings. (6 questions for Celanese Corporation)
In one paragraph
One paragraph on Celanese Corporation's returns, cash, balance sheet and price. (11 of sixteen figures read for Celanese Corporation)

These are CE’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research CEPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 24, 2026, accession 0001306830-26-000031.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Celanese Corporation: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax-4.6% ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Return on equity-28.8% ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Return on capital employed, pre-tax-4.4% ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Return on assets-5.4% ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Gross margin20.4% ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Operating margin-8.2% ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Net margin-12.2% ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
CE -12.2%
CLF -7.9%WFG -17.1%AVNT 2.5%ICL 3.2%CENX 1.6%
-17.1%3.2%
Net margin: CE against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Celanese Corporation: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity3.23 ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Current ratio1.55 ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Quick ratio0.94 ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Interest coverage
Why n/m

Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).

n/m ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Altman Z-score1.25 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Net debt11.80B ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Total assets 21.70BTotal liabilities 17.22BShareholders' equity 4.05BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Celanese Corporation owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 24, 2026, 0001306830-26-000031).

Celanese Corporation: balance sheet position
Total assets21.70B FiledFY2025 10-K, filed Feb 24, 2026
Total liabilities17.22B FiledFY2025 10-K, filed Feb 24, 2026
Shareholders' equity4.05B FiledFY2025 10-K, filed Feb 24, 2026
Cash1.26B FiledFY2025 10-K, filed Feb 24, 2026
Total debt13.06B FiledFY2025 10-K, filed Feb 24, 2026
Net debt11.80B
Current ratio1.55
Debt to equity3.23
  • Interest cover: FY2025: Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Celanese Corporation: what the market charges, each with its source
FigureValue, source and document
Price to earnings
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
P/E on trailing twelve months5.38x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book1.26x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Price to sales0.53x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Enterprise value to EBIT
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Enterprise value to EBITDA
Why n/m

EBITDA is zero or negative, so a multiple of it is not meaningful.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Price to earnings over growth
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Diluted earnings per share-10.64 USD FiledFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Graham number
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031

We publish no fair value or price target of our own. Value CE on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Celanese Corporation today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Celanese Corporation: valuation
Share price46.44 USD
Market capitalisation5.10B USD
Enterprise value to EBITDAn/m
Graham numbern/m
Diluted earnings per share, FY2025-10.64 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 4.51x, median 10.54x, high 28.51x, latest 5.38x. 2,108 trading days with a meaningful ratio, 413 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Celanese Corporation

  1. Cleveland-Cliffs Inc. (CLF)Market cap 6.93B USD
  2. West Fraser Timber Co. Ltd. (WFG)Market cap 4.98B USD
  3. Avient Corporation (AVNT)Market cap 3.58B USD
  4. ICL Group Ltd (ICL)Market cap 6.42B USD
  5. Century Aluminum Company (CENX)Market cap 3.39B USD

Same sector (Basic Materials) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Celanese Corporation: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield15.8% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Free cash flow803.0M USD ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Free cash flow margin8.4% ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Dividend yield0.3% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
FY2016 Free cash flow: 647.0M USDFY2016 Net income: 900.0M USDFY2017 Free cash flow: 536.0M USDFY2017 Net income: 843.0M USDFY2018 Free cash flow: 1.22B USDFY2018 Net income: 1.21B USDFY2019 Free cash flow: 1.08B USDFY2019 Net income: 852.0M USDFY2020 Free cash flow: 979.0M USDFY2020 Net income: 1.99B USDFY2021 Free cash flow: 1.29B USDFY2021 Net income: 1.89B USDFY2022 Free cash flow: 1.28B USDFY2022 Net income: 1.89B USDFY2023 Free cash flow: 1.33B USDFY2023 Net income: 1.94B USDFY2024 Free cash flow: 531.0M USDFY2024 Net income: -1.54B USDFY2025 Free cash flow: 803.0M USDFY2025 Net income: -1.17B USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Celanese Corporation: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
1.26xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a Operating profit is zero or negative, so there is no profit for a buyer's price to be a multiple of.
15.8%FY2025Oct 15, 2026
-4.6%FY2025Feb 24, 2026
0.3%FY2025Oct 15, 2026
3.23FY2025Feb 24, 2026
1.55FY2025Feb 24, 2026
0.53xFY2025Oct 15, 2026
n/mFY2025Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
1.25FY2025Oct 15, 2026
-2.69FY2025Feb 24, 2026
4/9FY2025Feb 24, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 18 filed fiscal years on record, FY2007 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports Celanese Corporation filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Celanese Corporation: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20259.54B-786.0M-1.17B-10.64803.0M-8.2%-28.8%10-K, Feb 24, 20260001306830-26-000031
FY202410.27B-720.0M-1.54B-14.11531.0M-7.0%-30.1%10-K, Feb 21, 20250001306830-25-000027
FY202310.93B1.67B1.94B17.761.33B15.2%27.5%10-K, Feb 23, 20240001306830-24-000029
FY20229.67B1.38B1.89B17.341.28B14.3%33.6%10-K, Feb 24, 20230001306830-23-000023
FY20218.54B1.95B1.89B16.861.29B22.8%45.1%10-K, Feb 10, 20220001306830-22-000017
FY20205.66B664.0M1.99B16.75979.0M11.7%56.3%10-K, Feb 11, 20210001306830-21-000020
FY20196.30B834.0M852.0M6.841.08B13.2%34.0%10-K, Feb 6, 20200001306830-20-000018
FY20187.16B1.33B1.21B8.911.22B18.6%40.5%10-K, Feb 7, 20190001306830-19-000014
FY20176.14B857.0M843.0M6.09536.0M14.0%29.2%10-K, Feb 9, 20180001306830-18-000030
FY20165.39B934.0M900.0M6.18647.0M17.3%34.8%10-K, Feb 10, 20170001306830-17-000034
  • Revenue, compound annual growth FY2016 to FY2025: 6.6%
  • Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow, compound annual growth FY2016 to FY2025: 2.4%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Celanese Corporation: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.69 ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Piotroski F-score4/9 ComputedFY2025 10-K, filed Feb 24, 2026, 0001306830-26-000031
Named tests met1 of 30 Computed
Beta0.66 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 1 met, 26 not met, 3 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Low P/S, rising earnings (James O'Shaughnessy)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
P/E times P/B (Benjamin Graham); Cash-covered dividend; Cheapest quarter on P/E (David Dreman). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(10)
  • P/E Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
  • PEG Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: EBITDA is zero or negative, so a multiple of it is not meaningful.
  • Interest Coverage: Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Dividend Streak: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 10 figures could not be read on this company, among them P/E Ratio, EV/EBIT, PEG Ratio. Each blank in the table above names the rest, with its reason. 3 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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