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Orion (OEC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Orion
NYSE•Basic Materials•Specialty Chemicals
$5.75-0.06(-0.01%)After hours
Market Cap
$328.18M
P/S
0.2x
P/B
0.9x

Orion S.A., together with its subsidiaries, engages in the manufacture and sale of carbon black products. The company operates in two segments, Specialty Carbon Black and Rubber Carbon Black. It offers post-treated specialty carbon black grades for coatings and printing applications, as well as high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings. The company also provides rubber carbon black products for tires, such as high-reinforcing grades and semi-reinforcing grades under the ECORAX brand, as well as for mechanical rubber goods end users, including automotive production, construction, as well as certain food, consumer, and medical applications. It operates in the United States, Brazil, rest of the Americas, Germany, South Africa, Italy, Spain, Czech republic, Poland, Italy, Turkey, France, Rest of EMEA, China, the Republic of Korea, and rest of Asia. The company was formerly known as Orion Engineered Carbons S.A. and changed its name to Orion S.A. in June 2023. Orion S.A. was founded in 1862 and is headquartered in Senningerberg, Luxembourg.

C

How this company scores

AverageMetricSide Score: 42/100

Strongest: Cash & Earnings Quality (20/25); weakest: Growth (5/25).

Profitability7/25
Growth5/25
Balance Sheet & Red Flags10/25
Cash & Earnings Quality20/25
Strengths
Cash-backed earningsImproving marginsNo share dilution

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 39.0x5y range 6.9x – 39.0x
P/E 39.0x · above its 16-quarter median

Currently above its 16-quarter median.

P/S · 0.2x5y range 0.2x – 0.9x
P/S 0.2x · below its 20-quarter median

Currently below its 20-quarter median.

P/B · 0.9x5y range 0.8x – 3.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 105.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume
Market Cap $328.18M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$1.82B
1%
Q. Revenue
$500.90M
2Q
TTM EBITDA
$130.90M
7Q
TTM Op. Income
$-3.10M
7Q
Q. Op. Income
$21.30M
34%
TTM Net Income
$-96.30M
6Q
Q. Net Income
$1.80M
3Q
EPS
$0.03
3Q
Shares Out.
$56.29M
0%
$1.82B in TTM revenue declined 1.0% YoY, reaching $500.90M last quarter. TTM EBITDA of $130.90M and TTM operating income of $-3.10M show growth is flowing through to the bottom line. However, net income is negative at $96.30M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is down 1% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
18.6%
12%
EBITDA Margin
10.8%
21%
Op. Margin
4.3%
38%
Net Margin
0.4%
3Q
Op. margin of 4.3% is down 2.6% YoY — costs are rising relative to revenue. Net margin at 0.4% and gross margin of 18.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 38% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
2Q
P/S Ratio
0.2x
44%
P/B Ratio
0.9x
32%
P/S of 0.2x and P/B of 0.9x. P/S is low relative to typical market levels. Across the last 4 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$1.99B
2Q
Cash
$50.80M
19%
Long-Term Debt
$652.90M
3Q
Book Value
$380.30M
18%
D/E Ratio
1.7
2Q
Debt/EBITDA
12.0
15%
With $1.99B in assets and $652.90M in long-term debt, D/E is 1.7and book value is $380.30M — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$27.30M
49%
TTM Free Cash Flow
$25.50M
2Q
FCF Margin
1.4%
2Q
FCF / Net Income
-0.3
4Q
TTM FCF of $25.50M on $27.30M in operating cash flow. The FCF / Net Income ratio of -0.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.

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· below its 20-quarter median

Currently below its 20-quarter median.

Revenue Decline

Red Flag

Revenue declined in 6 of the last 7 quarters — persistent contraction signals a fundamental problem.

Cash Burn

Watch

FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.