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Forensic Analysis · Chemicals · as of Nov 10, 2026

Eastman Chemical Co (EMN)

A forensic read on Eastman Chemical Co built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
3.6
Distress distance
Clean
Earnings quality
2
Forensic signals
8.1%
ROE
-6.7%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Eastman Chemical Co earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.6, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

3.9%
FY2025
Return on invested capital. Return on invested capital is 3.9% in the latest fiscal year and slipping across FY2023–FY2025 from 7.4%. After-tax operating profit was $896M in FY2023 and $475M in FY2025. The capital base behind it went from $12.1B in FY2023 to $12.2B in FY2025 (+1%), while the revenue it carried went from $9.2B to $8.8B.
105d
FY2024→FY2025
Inventory days. Days inventory outstanding moved from 94 to 105 FY2024→FY2025 (against cost of goods sold; inventory 0% vs -3% in cost of sales). Inventory did not fall as fast as cost of sales, so days on hand lengthened — watch for markdowns.

Key fundamentals

Latest Revenue$8.75B
Revenue Growth YoY-6.7%
Revenue CAGR (2yr)-2.5%
Net Margin5.4%
Free Cash Flow$424.0M
Return on Equity8.1%
Debt / Equity0.80x

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Data from SEC EDGAR public filings · metrics as of Nov 10, 2026. Forensic signals flag probability, not certainty.

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