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Public Comps and Valuation Multiples for Chemicals

Benchmark revenue and EBITDA valuation multiples for public comps like
Linde, Sherwin-Williams, Ecolab, Shin-Etsu and Air Products.

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Chemicals

Viewing 50 of 281 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Linde	$233B	$256B	$34B	7.4x	18.8x
Sherwin-Williams	$88B	$101B	$24B	4.2x	21.7x
Ecolab	$75B	$83B	$16B	5.0x	20.8x
Shin-Etsu	$72B	$64B	$16B	4.0x	11.4x
Air Products	$65B	$82B	—	—	—
Air Products	$65B	$82B	$12B	6.7x	15.7x
BASF	$52B	$75B	$71B	1.1x	9.6x
SABIC	$47B	$46B	$32B	1.5x	9.2x
Wanhua Chemical	$39B	$51B	$30B	1.7x	10.9x
Givaudan	$31B	$36B	$10B	3.7x	15.6x
Chandra Asri Group	$30B	$32B	—	—	—
Dow	$30B	$46B	$40B	1.1x	12.8x
Novonesis	$28B	$31B	$5B	6.3x	16.8x
Sika	$26B	$32B	$14B	2.2x	12.0x
Qnity Electronics	$26B	$28B	$5B	5.7x	19.2x
Qinghai Salt Lake Industry	$26B	$23B	$3B	8.5x	16.3x
LyondellBasell	$26B	$37B	$30B	1.2x	13.0x
Hengli Petrochemical	$25B	$43B	$33B	1.3x	11.8x
Ningxia Baofeng Energy Group	$25B	$29B	$7B	4.0x	10.5x
Eternal Ltd	$24B	$24B	$6B	3.9x	174.3x
PPG	$23B	$29B	$16B	1.8x	10.4x
OMV	$21B	$24B	$29B	0.8x	3.0x
Rongsheng Petro Chemical	$21B	$49B	$44B	1.1x	10.0x
Borouge	$21B	$24B	$6B	4.1x	10.8x
Albemarle	$21B	$25B	$5B	4.7x	17.8x
International Flavors & Fragrances	$21B	$26B	$11B	2.4x	12.5x
Industries Qatar	$19B	$16B	$4B	3.7x	12.0x
DuPont	$19B	$21B	$7B	3.0x	12.7x
Ems-Chemie	$18B	$18B	$2B	7.1x	22.1x
SABIC Agri-Nutrient	$18B	$14B	$3B	4.2x	10.8x
DSM-Firmenich	$17B	$21B	$14B	1.5x	8.3x
Nippon Sanso Holdings	$17B	$21B	$8B	2.5x	10.5x
Nippon Paint	$16B	$22B	$12B	1.9x	10.1x
LG Chem	$16B	$33B	$32B	1.0x	7.2x
CF Industries	$16B	$18B	$7B	2.5x	5.8x
Ecopro	$15B	$17B	—	—	—
Nitto Denko	$15B	$13B	$6B	2.0x	8.0x
Covestro	$14B	$16B	$15B	1.1x	18.6x
RPM International	$14B	$17B	$8B	2.2x	14.1x
Westlake	$14B	$17B	$11B	1.5x	12.9x
Ambuja Cements	$13B	$13B	$5B	2.9x	16.3x
Solstice Advanced Materials	$13B	$14B	$4B	3.7x	14.9x
Jordan Phosphates Mines	$12B	$11B	—	—	—
Symrise	$12B	$14B	$6B	2.4x	10.9x
Akzo Nobel	$10B	$13B	$12B	1.1x	7.7x
Brenntag	$9B	$12B	$17B	0.7x	8.3x
Eastman Chemical	$9B	$13B	$9B	1.5x	8.7x
Element Solutions	$8B	$9B	$3B	3.5x	16.4x
Sembcorp	$8B	$14B	$5B	3.0x	11.7x
Orica	$8B	$9B	$6B	1.7x	9.2x
Sasol	$8B	$X.XB	$15B	X.Xx	X.Xx
Evonik Industries	$8B	$X.XB	$16B	X.Xx	X.Xx
Axalta Coating Systems	$7B	$X.XB	$5B	X.Xx	X.Xx
ICL Group	$7B	$X.XB	$7B	X.Xx	X.Xx
Dottikon ES Holding	$6B	$X.XB	$578M	X.Xx	X.Xx
SICC	$6B	$X.XB	$237M	X.Xx	X.Xx
Fertiglobe	$6B	$X.XB	$3B	X.Xx	X.Xx
Balchem	$6B	$X.XB	$1B	X.Xx	X.Xx
Petro Rabigh	$6B	$X.XB	$10B	X.Xx	X.Xx
Bachem	$6B	$X.XB	$967M	X.Xx	X.Xx
Croda International	$5B	$X.XB	$2B	X.Xx	X.Xx
Celanese	$5B	$X.XB	$10B	X.Xx	X.Xx
SOL	$5B	$X.XB	$2B	X.Xx	X.Xx
IMCD	$5B	$X.XB	$6B	X.Xx	X.Xx
Yansab	$5B	$X.XB	$1B	X.Xx	X.Xx
Syensqo	$5B	$X.XB	$7B	X.Xx	X.Xx
Arkema	$5B	$X.XB	$11B	X.Xx	X.Xx
Fuchs	$5B	$X.XB	$4B	X.Xx	X.Xx
PI Indus	$5B	$X.XB	$746M	X.Xx	X.Xx
Arab Potash Company	$5B	$X.XB	—	X.Xx	X.Xx
Xin Feng Ming Group	$5B	$X.XB	$10B	X.Xx	X.Xx
Methanex	$5B	$X.XB	$4B	X.Xx	X.Xx
Luberef	$5B	$X.XB	$2B	X.Xx	X.Xx
Bluestar Adisseo	$5B	$X.XB	$3B	X.Xx	X.Xx
Viohalco	$4B	$X.XB	—	X.Xx	X.Xx
Shanghai Petrochemical	$4B	$X.XB	$10B	X.Xx	X.Xx
Wacker Chemie	$4B	$X.XB	$6B	X.Xx	X.Xx
Sensient Technologies	$4B	$X.XB	$2B	X.Xx	X.Xx
Dyno Nobel	$4B	$X.XB	$3B	X.Xx	X.Xx
Cabot	$4B	$X.XB	$4B	X.Xx	X.Xx
Mesaieed Petrochemical	$4B	$X.XB	—	X.Xx	X.Xx
Gubre Fabrikalari	$4B	$X.XB	—	X.Xx	X.Xx
Avient	$4B	$X.XB	$3B	X.Xx	X.Xx
H.B. Fuller	$4B	$X.XB	$4B	X.Xx	X.Xx
Perimeter Solutions	$3B	$X.XB	$703M	X.Xx	X.Xx
K+S	$3B	$X.XB	$4B	X.Xx	X.Xx
Kemira	$3B	$X.XB	$3B	X.Xx	X.Xx
Clariant	$3B	$X.XB	$5B	X.Xx	X.Xx
WD-40	$3B	$X.XB	$638M	X.Xx	X.Xx
POCO Holdings Co.	$3B	$X.XB	$292M	X.Xx	X.Xx
Chemours	$3B	$X.XB	$6B	X.Xx	X.Xx
Solvay	$3B	$X.XB	$5B	X.Xx	X.Xx
Enaex	$3B	$X.XB	—	X.Xx	X.Xx
Hawkins	$3B	$X.XB	$1B	X.Xx	X.Xx
Sipchem	$3B	$X.XB	$2B	X.Xx	X.Xx
Olin	$3B	$X.XB	$7B	X.Xx	X.Xx
Ashland	$3B	$X.XB	$2B	X.Xx	X.Xx
Hexpol	$3B	$X.XB	$2B	X.Xx	X.Xx
OQ Base Industries	$3B	$X.XB	$589M	X.Xx	X.Xx
Quaker Houghton	$3B	$X.XB	$2B	X.Xx	X.Xx
Ingevity	$3B	$X.XB	$1B	X.Xx	X.Xx
Saudi Industrial Investment Group	$2B	$X.XB	—	X.Xx	X.Xx
Zeon	$2B	$X.XB	$3B	X.Xx	X.Xx
Calumet	$2B	$X.XB	$4B	X.Xx	X.Xx
Azelis Group	$2B	$X.XB	$5B	X.Xx	X.Xx
MOPCO	$2B	$X.XB	—	X.Xx	X.Xx
Huntsman	$2B	$X.XB	$6B	X.Xx	X.Xx
Orbia	$2B	$X.XB	$8B	X.Xx	X.Xx
Turpaz Industries	$2B	$X.XB	—	X.Xx	X.Xx
Robertet	$2B	$X.XB	$987M	X.Xx	X.Xx
Abu Qir Fertilizers	$2B	$X.XB	$585M	X.Xx	X.Xx
Saudi Kayan	$2B	$X.XB	$2B	X.Xx	X.Xx
Verbio	$2B	$X.XB	$2B	X.Xx	X.Xx
Castrol India	$2B	$X.XB	$639M	X.Xx	X.Xx
Elkem	$2B	$X.XB	$3B	X.Xx	X.Xx
CAC Nantong Chemical Co	$2B	$X.XB	—	X.Xx	X.Xx
Innospec	$2B	$X.XB	$2B	X.Xx	X.Xx
Alzchem Group	$2B	$X.XB	$672M	X.Xx	X.Xx
FMC	$2B	$X.XB	$4B	X.Xx	X.Xx
Lanxess	$2B	$X.XB	$7B	X.Xx	X.Xx
RHI Magnesita	$2B	$X.XB	$4B	X.Xx	X.Xx
Shanghai C&D Innostic	$2B	$X.XB	—	X.Xx	X.Xx
Saudi Chemical	$2B	$X.XB	—	X.Xx	X.Xx
Solvac	$2B	$X.XB	—	X.Xx	X.Xx
Advanced Petrochemical	$2B	$X.XB	$1B	X.Xx	X.Xx
National Industralization	$2B	$X.XB	$718M	X.Xx	X.Xx
De Nora	$2B	$X.XB	$990M	X.Xx	X.Xx
Unipar	$1B	$X.XB	$977M	X.Xx	X.Xx
CropEnergies	$1B	$X.XB	—	X.Xx	X.Xx
Braskem	$1B	$X.XB	$14B	X.Xx	X.Xx
Ecovyst	$1B	$X.XB	$771M	X.Xx	X.Xx
Chemtrade Logistics	$1B	$X.XB	—	X.Xx	X.Xx
Elementis	$1B	$X.XB	$601M	X.Xx	X.Xx
Redox	$1B	$X.XB	$907M	X.Xx	X.Xx
Cosmo Advanced Materials	$1B	$X.XB	$350M	X.Xx	X.Xx
Tronox Holdings	$1B	$X.XB	$3B	X.Xx	X.Xx
Stepan	$1B	$X.XB	$2B	X.Xx	X.Xx
São Martinho	$1B	$X.XB	$1B	X.Xx	X.Xx
CVR Partners	$1B	$X.XB	$606M	X.Xx	X.Xx
Petkim	$1B	$X.XB	$2B	X.Xx	X.Xx
Alpek	$994M	$X.XB	$7B	X.Xx	X.Xx
Potasios De Chile	$978M	$X.XB	—	X.Xx	X.Xx
Green Plains	$974M	$X.XB	$2B	X.Xx	X.Xx
Aksa Akrilik	$946M	$X.XB	$844M	X.Xx	X.Xx
LSB Industries	$859M	$X.XB	$637M	X.Xx	X.Xx
OCI	$825M	$X.XB	$1B	X.Xx	X.Xx
Omnia Holdings	$823M	$X.XB	$1B	X.Xx	X.Xx
Alok Indus	$779M	$X.XB	—	X.Xx	X.Xx
Westlake Chemical	$776M	$X.XB	$1B	X.Xx	X.Xx
Gujarat State Fertilizers	$736M	$X.XB	$1B	X.Xx	X.Xx
Koppers Holdings	$714M	$X.XB	$2B	X.Xx	X.Xx
SP Group	$710M	$X.XB	$482M	X.Xx	X.Xx
AECI	$694M	$X.XB	$2B	X.Xx	X.Xx
AdvanSix	$680M	$X.XB	$2B	X.Xx	X.Xx
Kronos Worldwide	$660M	$X.XB	$2B	X.Xx	X.Xx
Sheela Foam	$647M	$X.XB	$408M	X.Xx	X.Xx
Explosifs et Produits Chimiques	$619M	$X.XB	$651M	X.Xx	X.Xx
Cydsa	$600M	$X.XB	$955M	X.Xx	X.Xx
ASP Isotopes	$581M	$X.XB	$17M	X.Xx	X.Xx
SGL Carbon	$573M	$X.XB	$961M	X.Xx	X.Xx
Gevo	$557M	$X.XB	$167M	X.Xx	X.Xx
Alujain	$513M	$X.XB	$362M	X.Xx	X.Xx
Intrepid Potash	$485M	$X.XB	$285M	X.Xx	X.Xx
Chimcomplex SA Borzesti	$481M	$X.XB	—	X.Xx	X.Xx
Flotek Industries	$475M	$X.XB	$247M	X.Xx	X.Xx
Uzin Utz	$462M	$X.XB	$592M	X.Xx	X.Xx
Creta Plastics	$451M	$X.XB	—	X.Xx	X.Xx
Grupa Azoty	$438M	$X.XB	$4B	X.Xx	X.Xx
Itafos	$425M	$X.XB	$568M	X.Xx	X.Xx
Valhi	$395M	$X.XB	$2B	X.Xx	X.Xx
Aduro Clean Technologies	$372M	$X.XB	$154K	X.Xx	X.Xx
PCC Rokita	$372M	$X.XB	$495M	X.Xx	X.Xx
Messer Tehnogas	$346M	$X.XB	—	X.Xx	X.Xx
Natac Natural Ingredients	$343M	$X.XB	—	X.Xx	X.Xx
Oxiquim	$337M	$X.XB	—	X.Xx	X.Xx
Selena FM	$337M	$X.XB	$489M	X.Xx	X.Xx
Ercros	$327M	$X.XB	$775M	X.Xx	X.Xx
Hudson Technologies	$304M	$X.XB	$247M	X.Xx	X.Xx
Orion SA	$303M	$X.XB	$2B	X.Xx	X.Xx
NL Industries	$302M	$X.XB	$158M	X.Xx	X.Xx
Sniezka	$290M	$X.XB	$215M	X.Xx	X.Xx
Exel Industries	$282M	$X.XB	$1B	X.Xx	X.Xx
Boryszew	$272M	$X.XB	—	X.Xx	X.Xx
Cinkarna Celje	$269M	$X.XB	$238M	X.Xx	X.Xx
Aspo	$246M	$X.XB	$578M	X.Xx	X.Xx
Grupa Azoty Puławy	$244M	$X.XB	—	X.Xx	X.Xx
Trayal Korporacija	$206M	$X.XB	—	X.Xx	X.Xx
Alto Ingredients	$195M	$X.XB	$928M	X.Xx	X.Xx
Avantium	$192M	$X.XB	$28M	X.Xx	X.Xx
H&R Gruppe	$188M	$X.XB	$1B	X.Xx	X.Xx
Carbios	$177M	$X.XB	$3M	X.Xx	X.Xx
Delta Giri Wacana	$170M	$X.XB	—	X.Xx	X.Xx
Dexxos	$170M	$X.XB	$410M	X.Xx	X.Xx
XRF Scientific	$169M	$X.XB	$43M	X.Xx	X.Xx
Gurit Holding	$160M	$X.XB	$403M	X.Xx	X.Xx
Solar Foods	$159M	$X.XB	$790K	X.Xx	X.Xx
Masterflex	$151M	$X.XB	$120M	X.Xx	X.Xx
Flugger Group	$151M	$X.XB	$355M	X.Xx	X.Xx
Lhyfe	$137M	$X.XB	$16M	X.Xx	X.Xx
American Vanguard	$132M	$X.XB	$515M	X.Xx	X.Xx
Nabaltec	$128M	$X.XB	$232M	X.Xx	X.Xx
Afyren	$123M	$X.XB	$3M	X.Xx	X.Xx
Tronox	$108M	$X.XB	—	X.Xx	X.Xx
DGL Group	$105M	$X.XB	$315M	X.Xx	X.Xx
PCC Exol	$104M	$X.XB	—	X.Xx	X.Xx
Arla Plast	$104M	$X.XB	—	X.Xx	X.Xx
Himsnab Bulgaria	$100M	$X.XB	—	X.Xx	X.Xx
IBU-tec adv materials	$99M	$X.XB	$49M	X.Xx	X.Xx
Daios Plastic	$97M	$X.XB	—	X.Xx	X.Xx
Aemetis	$96M	$X.XB	$233M	X.Xx	X.Xx
Holland	$96M	$X.XB	—	X.Xx	X.Xx
Sulnox Group	$95M	$X.XB	$3M	X.Xx	X.Xx
Quimpac	$94M	$X.XB	—	X.Xx	X.Xx
Baikowski	$90M	$X.XB	—	X.Xx	X.Xx
QB Industrias	$89M	$X.XB	—	X.Xx	X.Xx
Northern Technologies	$83M	$X.XB	$89M	X.Xx	X.Xx
Amoeba	$79M	$X.XB	$1M	X.Xx	X.Xx
5E Advanced Materials	$76M	$X.XB	—	X.Xx	X.Xx
Magis	$67M	$X.XB	—	X.Xx	X.Xx
Loop Industries	$64M	$X.XB	$1M	X.Xx	X.Xx
eXoZymes	$62M	$X.XB	—	X.Xx	X.Xx
BRAIN Biotech	$61M	$X.XB	$63M	X.Xx	X.Xx
Exel Composites	$61M	$X.XB	$127M	X.Xx	X.Xx
Enka de Colombia	$57M	$X.XB	—	X.Xx	X.Xx
I-Tech	$56M	$X.XB	$19M	X.Xx	X.Xx
Grupo Pochteca	$46M	$X.XB	—	X.Xx	X.Xx
Hub Tech	$44M	$X.XB	—	X.Xx	X.Xx
Synthomer	$41M	$X.XB	$2B	X.Xx	X.Xx
Neochim	$40M	$X.XB	—	X.Xx	X.Xx
Industrie Chimiche	$39M	$X.XB	$87M	X.Xx	X.Xx
Bioceres	$35M	$X.XB	$335M	X.Xx	X.Xx
Carbochim	$34M	$X.XB	—	X.Xx	X.Xx
Cropmate	$32M	$X.XB	—	X.Xx	X.Xx
Polygiene Group	$24M	$X.XB	$17M	X.Xx	X.Xx
Green Oleo	$24M	$X.XB	—	X.Xx	X.Xx
Hove	$22M	$X.XB	—	X.Xx	X.Xx
Hyenergy	$21M	$X.XB	—	X.Xx	X.Xx
Carboclor	$20M	$X.XB	—	X.Xx	X.Xx
Nexam Chemical Holding	$20M	$X.XB	$22M	X.Xx	X.Xx
Polwax	$20M	$X.XB	—	X.Xx	X.Xx
OrganoClick	$19M	$X.XB	$12M	X.Xx	X.Xx
KGL	$19M	$X.XB	—	X.Xx	X.Xx
Vinpai	$19M	$X.XB	$12M	X.Xx	X.Xx
Directa Plus	$15M	$X.XB	$8M	X.Xx	X.Xx
Bergen Carbon Solutions	$14M	$X.XB	—	X.Xx	X.Xx
Melamin	$14M	$X.XB	—	X.Xx	X.Xx
Onesano	$12M	$X.XB	—	X.Xx	X.Xx
Prymus	$11M	$X.XB	—	X.Xx	X.Xx
Plasticos Compuestos	$11M	$X.XB	—	X.Xx	X.Xx
Serstech	$11M	$X.XB	—	X.Xx	X.Xx
Lordos United Public	$10M	$X.XB	—	X.Xx	X.Xx
Hulytego	$9M	$X.XB	—	X.Xx	X.Xx
Encres Dubuit	$9M	$X.XB	—	X.Xx	X.Xx
Berger Paints Jamaica	$8M	$X.XB	—	X.Xx	X.Xx
Sinteza	$8M	$X.XB	—	X.Xx	X.Xx
aXichem	$8M	$X.XB	$3M	X.Xx	X.Xx
Suntrade Group	$7M	$X.XB	—	X.Xx	X.Xx
Tribox Group	$6M	$X.XB	—	X.Xx	X.Xx
Eko Export	$5M	$X.XB	—	X.Xx	X.Xx
Svenska Aerogel	$5M	$X.XB	—	X.Xx	X.Xx
EcoRub	$5M	$X.XB	—	X.Xx	X.Xx
XP Chemistries	$4M	$X.XB	$260K	X.Xx	X.Xx
Sansuy Industria	$4M	$X.XB	—	X.Xx	X.Xx
Trinseo	$4M	$X.XB	$3B	X.Xx	X.Xx
Cyclezyme	$4M	$X.XB	—	X.Xx	X.Xx
Prebona	$3M	$X.XB	—	X.Xx	X.Xx
POLYDUCT Plastic	$3M	$X.XB	—	X.Xx	X.Xx
Soprocal Calerias	$3M	$X.XB	—	X.Xx	X.Xx
SZAR	$3M	$X.XB	—	X.Xx	X.Xx
Nattaro Labs	$2M	$X.XB	—	X.Xx	X.Xx
Lima Caucho	$2M	$X.XB	—	X.Xx	X.Xx
Biofrigas Sweden	$2M	$X.XB	—	X.Xx	X.Xx
Polymer Factory Sweden	$1M	$X.XB	—	X.Xx	X.Xx
Black Point	$1M	$X.XB	—	X.Xx	X.Xx
Krakchemia	$1M	$X.XB	—	X.Xx	X.Xx
Recyctec Holding	$866K	$X.XB	—	X.Xx	X.Xx
Tekchem	$835K	$X.XB	—	X.Xx	X.Xx
Meranol	$651K	$X.XB	—	X.Xx	X.Xx
Global Bioenergies	$290K	$X.XB	—	X.Xx	X.Xx
Controladora Alpek	—	$X.XB	—	X.Xx	X.Xx
Emeren Group	—	$X.XB	—	X.Xx	X.Xx