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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 256 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Linde	$236B	$259B	$34B	7.6x	19.1x
Sherwin-Williams	$88B	$101B	$24B	4.2x	21.8x
Ecolab	$86B	$94B	$16B	5.8x	23.8x
Shin-Etsu	$75B	$67B	$16B	4.1x	11.7x
Air Products	$62B	$79B	$12B	6.4x	15.1x
BASF	$49B	$73B	$70B	1.0x	9.3x
SABIC	$46B	$46B	$32B	1.5x	9.4x
Wanhua Chemical	$39B	$51B	$29B	1.7x	10.2x
Givaudan	$37B	$42B	$10B	4.3x	17.8x
Sika	$32B	$38B	$14B	2.7x	14.2x
Chandra Asri Group	$31B	$32B	$7B	4.8x	626.6x
Novonesis	$27B	$30B	$5B	6.1x	16.3x
PPG	$27B	$32B	$16B	2.0x	11.6x
Qinghai Salt Lake Industry	$26B	$23B	$3B	8.7x	17.9x
Hengli Petrochemical	$25B	$43B	$34B	1.3x	11.6x
Ningxia Baofeng Energy Group	$24B	$29B	$8B	3.8x	10.7x
Eternal Ltd	$24B	$24B	$6B	4.1x	185.7x
Dow	$22B	$38B	$40B	0.9x	11.2x
Industries Qatar	$22B	$19B	$4B	4.4x	14.5x
OMV	$21B	$24B	$29B	0.8x	3.2x
Rongsheng Petro Chemical	$21B	$49B	$45B	1.1x	9.7x
Borouge	$21B	$24B	$6B	4.1x	10.8x
Albemarle	$21B	$25B	$5B	4.7x	19.0x
International Flavors & Fragrances	$21B	$26B	$11B	2.4x	12.5x
DuPont	$20B	$23B	$7B	3.3x	13.8x
Ems-Chemie	$19B	$18B	$3B	7.2x	22.5x
LyondellBasell	$19B	$30B	$30B	1.0x	11.3x
DSM-Firmenich	$17B	$21B	$14B	1.5x	8.1x
LG Chem	$17B	$34B	$32B	1.0x	7.3x
Nippon Sanso Holdings	$17B	$21B	$9B	2.5x	10.6x
Nippon Paint	$17B	$22B	$12B	1.9x	10.3x
SABIC Agri-Nutrient	$16B	$13B	$3B	3.9x	10.0x
CF Industries	$16B	$18B	$7B	2.5x	6.3x
Ecopro	$16B	$18B	—	—	—
Nitto Denko	$15B	$13B	$7B	2.0x	8.0x
RPM International	$14B	$17B	$8B	2.2x	14.0x
Westlake	$14B	$17B	$11B	1.5x	13.9x
Covestro	$13B	$16B	$15B	1.1x	17.5x
Ambuja Cements	$13B	$13B	$5B	2.9x	16.4x
Symrise	$12B	$15B	$6B	2.6x	11.6x
Akzo Nobel	$11B	$15B	$12B	1.2x	8.6x
Eastman Chemical	$9B	$13B	$9B	1.5x	8.8x
Brenntag	$8B	$8B	$18B	0.5x	5.6x
Element Solutions	$8B	$9B	$3B	3.6x	16.6x
Sembcorp	$8B	$14B	$5B	3.0x	11.9x
Orica	$8B	$10B	$6B	1.7x	9.3x
Evonik Industries	$8B	$11B	$16B	0.7x	5.2x
Axalta Coating Systems	$7B	$10B	$5B	1.9x	8.4x
ICL Group	$7B	$9B	$7B	1.2x	5.9x
Dottikon ES Holding	$6B	$6B	—	—	—
SICC	$6B	$X.XB	$257M	X.Xx	X.Xx
Fertiglobe	$6B	$X.XB	$3B	X.Xx	X.Xx
Balchem	$6B	$X.XB	$1B	X.Xx	X.Xx
Syensqo	$6B	$X.XB	$7B	X.Xx	X.Xx
Bachem	$6B	$X.XB	$948M	X.Xx	X.Xx
Croda International	$6B	$X.XB	$2B	X.Xx	X.Xx
Celanese	$5B	$X.XB	$10B	X.Xx	X.Xx
Sasol	$5B	$X.XB	$14B	X.Xx	X.Xx
SOL	$5B	$X.XB	$2B	X.Xx	X.Xx
IMCD	$5B	$X.XB	$6B	X.Xx	X.Xx
PI Indus	$5B	$X.XB	$765M	X.Xx	X.Xx
Fuchs	$5B	$X.XB	$4B	X.Xx	X.Xx
Arkema	$5B	$X.XB	$11B	X.Xx	X.Xx
Alfa	$5B	$X.XB	$9B	X.Xx	X.Xx
Xin Feng Ming Group	$5B	$X.XB	$10B	X.Xx	X.Xx
Luberef	$5B	$X.XB	$2B	X.Xx	X.Xx
Bluestar Adisseo	$5B	$X.XB	$2B	X.Xx	X.Xx
Viohalco	$4B	$X.XB	—	X.Xx	X.Xx
Petro Rabigh	$4B	$X.XB	$9B	X.Xx	X.Xx
Shanghai Petrochemical	$4B	$X.XB	$11B	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
Yansab	$4B	$X.XB	$1B	X.Xx	X.Xx
Methanex	$4B	$X.XB	$4B	X.Xx	X.Xx
Cabot	$4B	$X.XB	$4B	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	$3B	X.Xx	X.Xx
Perimeter Solutions	$3B	$X.XB	$686M	X.Xx	X.Xx
Clariant	$3B	$X.XB	$5B	X.Xx	X.Xx
Kemira	$3B	$X.XB	$3B	X.Xx	X.Xx
WD-40	$3B	$X.XB	$636M	X.Xx	X.Xx
POCO Holdings Co.	$3B	$X.XB	$282M	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
K+S	$3B	$X.XB	$4B	X.Xx	X.Xx
Turpaz Industries	$3B	$X.XB	—	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
Chemours	$3B	$X.XB	$6B	X.Xx	X.Xx
Ingevity	$3B	$X.XB	$1B	X.Xx	X.Xx
Quaker Houghton	$3B	$X.XB	$2B	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
Huntsman	$2B	$X.XB	$6B	X.Xx	X.Xx
Saudi Kayan	$2B	$X.XB	$2B	X.Xx	X.Xx
Orbia	$2B	$X.XB	$8B	X.Xx	X.Xx
Robertet	$2B	$X.XB	$990M	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
OQ Base Industries	$2B	$X.XB	$582M	X.Xx	X.Xx
CAC Nantong Chemical Co	$2B	$X.XB	$762M	X.Xx	X.Xx
Innospec	$2B	$X.XB	$2B	X.Xx	X.Xx
Alzchem Group	$2B	$X.XB	$671M	X.Xx	X.Xx
Saudi Chemical	$2B	$X.XB	—	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
Advanced Petrochemical	$2B	$X.XB	$1B	X.Xx	X.Xx
Shanghai C&D Innostic	$2B	$X.XB	$3B	X.Xx	X.Xx
National Industralization	$2B	$X.XB	$901M	X.Xx	X.Xx
Solvac	$2B	$X.XB	—	X.Xx	X.Xx
De Nora	$2B	$X.XB	$999M	X.Xx	X.Xx
Unipar	$1B	$X.XB	$981M	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	$758M	X.Xx	X.Xx
Elementis	$1B	$X.XB	$601M	X.Xx	X.Xx
Redox	$1B	$X.XB	$908M	X.Xx	X.Xx
Cosmo Advanced Materials	$1B	$X.XB	$336M	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	$988M	$X.XB	$7B	X.Xx	X.Xx
Potasios De Chile	$987M	$X.XB	—	X.Xx	X.Xx
Green Plains	$974M	$X.XB	$2B	X.Xx	X.Xx
Aksa Akrilik	$957M	$X.XB	$816M	X.Xx	X.Xx
OCI	$863M	$X.XB	$1B	X.Xx	X.Xx
LSB Industries	$859M	$X.XB	$612M	X.Xx	X.Xx
Alok Indus	$788M	$X.XB	—	X.Xx	X.Xx
Westlake Chemical	$776M	$X.XB	$1B	X.Xx	X.Xx
Gujarat State Fertilizers	$744M	$X.XB	—	X.Xx	X.Xx
Koppers Holdings	$714M	$X.XB	$2B	X.Xx	X.Xx
SP Group	$711M	$X.XB	$460M	X.Xx	X.Xx
ASP Isotopes	$664M	$X.XB	$15M	X.Xx	X.Xx
Kronos Worldwide	$660M	$X.XB	$2B	X.Xx	X.Xx
Sheela Foam	$654M	$X.XB	$410M	X.Xx	X.Xx
Explosifs et Produits Chimiques	$619M	$X.XB	$647M	X.Xx	X.Xx
SGL Carbon	$574M	$X.XB	$980M	X.Xx	X.Xx
Cydsa	$570M	$X.XB	$953M	X.Xx	X.Xx
AdvanSix	$493M	$X.XB	$2B	X.Xx	X.Xx
Chimcomplex SA Borzesti	$486M	$X.XB	—	X.Xx	X.Xx
Intrepid Potash	$485M	$X.XB	$289M	X.Xx	X.Xx
Alujain	$466M	$X.XB	$353M	X.Xx	X.Xx
Uzin Utz	$462M	$X.XB	$593M	X.Xx	X.Xx
Gevo	$460M	$X.XB	$165M	X.Xx	X.Xx
Creta Plastics	$451M	$X.XB	—	X.Xx	X.Xx
Grupa Azoty	$436M	$X.XB	$4B	X.Xx	X.Xx
Itafos	$436M	$X.XB	$554M	X.Xx	X.Xx
Valhi	$395M	$X.XB	—	X.Xx	X.Xx
Aduro Clean Technologies	$372M	$X.XB	$158K	X.Xx	X.Xx
PCC Rokita	$371M	$X.XB	$506M	X.Xx	X.Xx
Messer Tehnogas	$353M	$X.XB	—	X.Xx	X.Xx
Natac Natural Ingredients	$343M	$X.XB	—	X.Xx	X.Xx
Oxiquim	$340M	$X.XB	—	X.Xx	X.Xx
Selena FM	$335M	$X.XB	$484M	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	$289M	$X.XB	$215M	X.Xx	X.Xx
Exel Industries	$282M	$X.XB	$1B	X.Xx	X.Xx
Boryszew	$271M	$X.XB	—	X.Xx	X.Xx
Cinkarna Celje	$269M	$X.XB	$239M	X.Xx	X.Xx
Aspo	$246M	$X.XB	$678M	X.Xx	X.Xx
Trayal Korporacija	$210M	$X.XB	—	X.Xx	X.Xx
Alto Ingredients	$195M	$X.XB	$925M	X.Xx	X.Xx
Avantium	$192M	$X.XB	$29M	X.Xx	X.Xx
H&R Gruppe	$184M	$X.XB	$1B	X.Xx	X.Xx
Carbios	$177M	$X.XB	$2M	X.Xx	X.Xx
XRF Scientific	$171M	$X.XB	$43M	X.Xx	X.Xx
Delta Giri Wacana	$171M	$X.XB	—	X.Xx	X.Xx
Dexxos	$167M	$X.XB	$428M	X.Xx	X.Xx
Gurit Holding	$164M	$X.XB	$405M	X.Xx	X.Xx
Solar Foods	$160M	$X.XB	$540K	X.Xx	X.Xx
Masterflex	$151M	$X.XB	$121M	X.Xx	X.Xx
Flugger Group	$151M	$X.XB	$358M	X.Xx	X.Xx
Lhyfe	$137M	$X.XB	$15M	X.Xx	X.Xx
American Vanguard	$132M	$X.XB	—	X.Xx	X.Xx
Nabaltec	$128M	$X.XB	$232M	X.Xx	X.Xx
Afyren	$123M	$X.XB	$3M	X.Xx	X.Xx
DGL Group	$106M	$X.XB	$315M	X.Xx	X.Xx
Arla Plast	$106M	$X.XB	—	X.Xx	X.Xx
PCC Exol	$104M	$X.XB	—	X.Xx	X.Xx
Himsnab Bulgaria	$101M	$X.XB	—	X.Xx	X.Xx
IBU-tec adv materials	$99M	$X.XB	$52M	X.Xx	X.Xx
Daios Plastic	$97M	$X.XB	—	X.Xx	X.Xx
Sulnox Group	$96M	$X.XB	—	X.Xx	X.Xx
Holland	$96M	$X.XB	—	X.Xx	X.Xx
Aemetis	$96M	$X.XB	$256M	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	$88M	X.Xx	X.Xx
Amoeba	$79M	$X.XB	$1M	X.Xx	X.Xx
5E Advanced Materials	$76M	$X.XB	—	X.Xx	X.Xx
eXoZymes	$74M	$X.XB	—	X.Xx	X.Xx
Magis	$67M	$X.XB	—	X.Xx	X.Xx
Loop Industries	$64M	$X.XB	$1M	X.Xx	X.Xx
BRAIN Biotech	$61M	$X.XB	$63M	X.Xx	X.Xx
Exel Composites	$58M	$X.XB	$126M	X.Xx	X.Xx
I-Tech	$58M	$X.XB	$19M	X.Xx	X.Xx
Grupo Pochteca	$45M	$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	—	X.Xx	X.Xx
Bioceres	$35M	$X.XB	$335M	X.Xx	X.Xx
Carbochim	$34M	$X.XB	—	X.Xx	X.Xx
Cropmate	$33M	$X.XB	—	X.Xx	X.Xx
Polygiene Group	$25M	$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
Nexam Chemical Holding	$21M	$X.XB	$22M	X.Xx	X.Xx
OrganoClick	$20M	$X.XB	$12M	X.Xx	X.Xx
Polwax	$20M	$X.XB	—	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	$15M	$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
Encres Dubuit	$9M	$X.XB	—	X.Xx	X.Xx
Trinseo	$8M	$X.XB	$3B	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
Svenska Aerogel	$6M	$X.XB	—	X.Xx	X.Xx
EcoRub	$5M	$X.XB	—	X.Xx	X.Xx
XP Chemistries	$4M	$X.XB	$204K	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
SZAR	$3M	$X.XB	—	X.Xx	X.Xx
Nattaro Labs	$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	$885K	$X.XB	—	X.Xx	X.Xx
Global Bioenergies	$403K	$X.XB	—	X.Xx	X.Xx
Controladora Alpek	—	$X.XB	—	X.Xx	X.Xx
Emeren Group	—	$X.XB	—	X.Xx	X.Xx