← LyondellBasell Industries N.V.
The business behind the dividend
| Measure | LYB | Median | Formula |
|---|---|---|---|
| Return on equity | -7.3% | 11.7% | Net income ÷ shareholders’ equity |
| Return on capital employed | -1.9% | 10.1% | Operating income ÷ (equity + total debt) |
| Owner earnings | $-1.23bn | $632.00m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $384.00m | $746.10m | Operating cash flow − capital expenditure |
| Operating margin | -1.4% | 15.0% | Operating income ÷ revenue |
| Net margin | -2.4% | 10.2% | Net income ÷ revenue |
| Debt to equity | 1.20x | 0.79x | Total debt ÷ shareholders’ equity |
| Interest cover | -0.86x | 4.43x | Operating income ÷ interest expense |
| Current ratio | 1.77x | 1.25x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 2.56x | 2.30x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
Not computed here: Cash conversion — why a blank is not a zero.
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | -7.3% | 11.0% | 16.4% | 30.8% | 47.4% | 17.9% | 42.2% | 45.7% | 54.5% | 63.4% | 30.8% |
| Return on capital employed | -1.9% | 8.3% | 11.7% | 22.0% | 29.3% | 6.7% | 20.9% | 27.9% | 31.2% | 35.1% | 20.9% |
| Operating margin | -1.4% | 5.7% | 8.2% | 10.1% | 14.7% | 5.8% | 12.1% | 13.7% | 16.2% | 17.8% | 10.1% |
| Net margin | -2.4% | 4.1% | 6.4% | 7.7% | 12.2% | 5.3% | 10.0% | 12.3% | 14.5% | 13.5% | 7.7% |
| Debt to equity | 1.20x | 0.85x | 0.80x | 0.84x | 0.95x | 1.92x | 1.44x | 0.83x | 0.96x | 1.39x | 0.95x |
| Current ratio | 1.77x | 1.83x | 1.84x | 1.75x | 1.69x | 2.11x | 1.83x | 1.92x | 2.46x | 2.11x | 1.83x |
| Cash conversion | — | 2.79x | 2.33x | 1.57x | 1.37x | 2.39x | 1.46x | 1.17x | 1.07x | 1.46x | 1.46x |
How it compares in materials
Among the 35 materials companies here measured on free cash flow, LyondellBasell Industries N.V. pays out less than 0 of them. The median for that group is 40.8%, against this company’s 459.4%.
Closest on free cash flow
- Insteel Industries (IIIN) 114.8%
- Huntsman (HUN) 125.9%
- International Flavors & Fragrances (IFF) 159.8%
- DuPont de Nemours (DD) 263.0%
Same sector and same denominator, so the figures are comparable. All 47 in materials →