Forensic Analysis · General / Diversified · as of Jun 27, 2026
Huntsman CORP (HUN)
A forensic read on Huntsman CORP built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
1.9
Altman Z-score
Clean
Earnings quality
5
Forensic signals
-12.2%
ROE
$2.0B
Market cap
3.04%
Dividend yield
Huntsman CORP earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 1.9, placing it in the Grey zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-2%Return on invested capital.Return on invested capital is -2% and slipping from 8% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
1% of revStock-based comp load.Stock-based compensation ran 1% of revenue and 27% of free cash flow in FY2025 — about $0.18 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
126% of FCFShareholder returns.Returned $146M to shareholders (buybacks + dividends) in FY2025 — 126% of free cash flow, but 51% of operating cash flow. Returns run ahead of free cash flow because the business is also funding heavy growth capex (usually debt-financed); the payout itself is covered by operating cash — sustainable as long as that spending is genuine expansion, not upkeep.
$14MGoodwill impairments.Took $14M of goodwill writedowns across 1 year(s) (FY2025 ($14M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
-16%Dividend — cut.The payout was CUT ~16% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies — weigh the cut when judging reliability.
Key fundamentals
Net Margin-5.0%
Debt / Equity0.73x
Free Cash Flow$116.0M
Latest Revenue$5.68B
Return on Equity-10.3%
Revenue Growth YoY-5.8%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Huntsman CORP:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about HUN's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown