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U.S. Chemicals Industry Analysis

UpdatedDec 14, 2025
DataAggregated Company Financials
Companies130
  • 7D1.7%
  • 3M-9.4%
  • 1Y-12.3%
  • YTD-6.0%

The Chemicals industry is up 1.7% in the last week, with Linde up 4.2%. In the same time, Air Products and Chemicals was down 6.8%. However, the industry is down 12% over the past year. As for the next few years, earnings are expected to grow by 23% per annum.

Industry Valuation and Performance

Has the U.S. Chemicals Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Dec 2025US$719.0bUS$371.7bUS$11.0b24x65.5x1.9x
Tue, 11 Nov 2025US$706.3bUS$371.6bUS$11.0b23.2x64.5x1.9x
Thu, 09 Oct 2025US$763.3bUS$367.8bUS$15.6b26.4x49.1x2.1x
Sat, 06 Sep 2025US$788.9bUS$367.6bUS$15.5b26.9x50.8x2.1x
Mon, 04 Aug 2025US$756.0bUS$374.7bUS$15.1b23.8x50x2x
Wed, 02 Jul 2025US$777.7bUS$378.4bUS$18.1b22x42.9x2.1x
Fri, 30 May 2025US$768.3bUS$378.4bUS$18.1b22.3x42.6x2x
Sun, 27 Apr 2025US$737.0bUS$379.8bUS$21.7b19.2x34x1.9x
Tue, 25 Mar 2025US$779.8bUS$380.9bUS$23.0b20.9x33.8x2x
Thu, 20 Feb 2025US$825.2bUS$381.2bUS$22.7b21.3x36.3x2.2x
Sat, 18 Jan 2025US$811.8bUS$384.4bUS$23.4b23.2x34.6x2.1x
Mon, 16 Dec 2024US$825.9bUS$384.3bUS$23.4b22.2x35.2x2.1x
Wed, 13 Nov 2024US$862.3bUS$385.6bUS$23.7b25.4x36.4x2.2x
Fri, 11 Oct 2024US$891.6bUS$390.5bUS$24.3b26.1x36.7x2.3x
Sun, 08 Sep 2024US$832.8bUS$383.8bUS$23.4b25.4x35.5x2.2x
Tue, 06 Aug 2024US$831.8bUS$385.3bUS$24.2b24.6x34.4x2.2x
Thu, 04 Jul 2024US$797.9bUS$379.9bUS$23.4b25.3x34.1x2.1x
Sat, 01 Jun 2024US$820.0bUS$377.3bUS$23.4b25.9x35x2.2x
Mon, 29 Apr 2024US$806.2bUS$382.7bUS$26.3b21.3x30.6x2.1x
Wed, 27 Mar 2024US$842.7bUS$384.6bUS$25.4b20.8x33.2x2.2x
Fri, 23 Feb 2024US$796.2bUS$384.7bUS$25.5b22.1x31.2x2.1x
Sun, 21 Jan 2024US$784.3bUS$398.9bUS$31.7b20x24.7x2x
Tue, 19 Dec 2023US$800.2bUS$398.4bUS$31.6b21.3x25.3x2x
Thu, 16 Nov 2023US$756.6bUS$399.0bUS$31.7b17.5x23.9x1.9x
Sat, 14 Oct 2023US$739.1bUS$412.0bUS$31.2b15.6x23.7x1.8x
Mon, 11 Sep 2023US$780.4bUS$412.0bUS$31.2b16.1x25x1.9x
Wed, 09 Aug 2023US$794.0bUS$411.9bUS$30.9b15.2x25.7x1.9x
Fri, 07 Jul 2023US$794.3bUS$444.3bUS$39.1b13.8x20.3x1.8x
Sun, 04 Jun 2023US$777.6bUS$444.6bUS$39.1b13.3x19.9x1.7x
Tue, 02 May 2023US$800.3bUS$444.9bUS$40.5b13.7x19.8x1.8x
Thu, 30 Mar 2023US$786.9bUS$452.1bUS$42.6b12.5x18.5x1.7x
Sat, 25 Feb 2023US$814.4bUS$450.4bUS$40.0b12.9x20.3x1.8x
Mon, 23 Jan 2023US$820.1bUS$461.0bUS$43.3b15x18.9x1.8x
Wed, 21 Dec 2022US$783.2bUS$460.8bUS$43.3b13.8x18.1x1.7x
Price to Earnings Ratio

18.1x


Total Market Cap: US$783.2bTotal Earnings: US$43.3bTotal Revenue: US$460.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Chemicals Industry Price to Earnings3Y Average 37.4x202320242025
Current Industry PE
  • Investors are optimistic on the American Chemicals industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 65.5x which is higher than its 3-year average PE of 37.4x.
  • The 3-year average PS ratio of 2.4x is higher than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Chemicals industry have declined 37% per year over the last three years,
  • Revenues have also declined 6.9% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.S. Materials industry?

US Market-0.59%
Materials2.54%
Chemicals1.71%
Commodity Chemicals4.74%
Diversified Chemicals4.37%
Industrial Gases1.57%
Fertilizers and Agricultural Chemicals1.46%
Specialty Chemicals1.36%
Industry PE
  • Investors are most optimistic about the Specialty Chemicals industry which is trading above its 3-year average PE ratio of 59.4x.
    • Analysts are expecting annual earnings growth of 25.2%, which is higher than its past year's earnings decline of 8.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Chemicals industry, expecting annual earnings growth of 91% over the next 5 years.
  • In contrast, the Fertilizers and Agricultural Chemicals industry is expected to see its earnings grow by 6.3% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
LIN LindeUS$416.244.2%
+US$7.8b		-4.4%PE27.4x
SQM Sociedad Química y Minera de ChileUS$65.837.5%
+US$1.3b		74.3%PE35.9x
ECL EcolabUS$263.601.5%
+US$1.1b		5.4%PE37.6x
ALB AlbemarleUS$132.746.0%
+US$888.6m		33.6%PS3.2x
MOS MosaicUS$26.2111.0%
+US$825.3m		-2.2%PE6.8x

Latest News

PRM
US$28.41
Perimeter Solutions
7D
-0.8%
1Y
121.6%
ALB
US$132.74
Albemarle
7D
6.0%
1Y
33.6%
PPG
US$103.54
PPG Industries
7D
2.5%
1Y
-16.6%
SQM
US$65.83
Sociedad Química y Minera de Chile
7D
7.5%
1Y
74.3%
WLK
US$74.40
Westlake
7D
9.4%
1Y
-37.7%

WLK: Future Returns Will Reflect Buyback Completion And Recent Index Removal

Narrative Update on Westlake Analysts have increased their price target on Westlake to approximately 81.29 dollars per share from 81.29 dollars previously, a marginal upward revision reflecting slightly lower discount rate assumptions and modestly improved long term valuation metrics. What's in the News Recorded a significant unaudited goodwill impairment of approximately 727 million dollars for the third quarter ended September 30, 2025, signaling a downward reassessment of certain acquired assets (Key Developments) Completed its long running share repurchase program announced in 2014, having bought back a total of 9,482,402 shares, or about 7.31 percent of shares outstanding, for 662.35 million dollars, with no additional shares repurchased in the latest quarter (Key Developments) Was removed from the FTSE All World Index, potentially affecting index linked ownership and passive fund flows (Key Developments) Expanded its Magnolia Collection window line with a new black frame option across multiple series, targeting growing demand for darker, energy efficient window styles in residential construction (Key Developments) Valuation Changes Fair Value: unchanged at approximately 81.29 dollars per share, indicating a stable intrinsic value estimate.
IFF
US$63.26
International Flavors & Fragrances
7D
-5.8%
1Y
-27.6%
ECL
US$263.60
Ecolab
7D
1.5%
1Y
5.4%

ECL: Rising Margins And Dividend Increase Will Support Strong Returns Into 2026

Analysts have modestly raised their price target on Ecolab by $10 to $325, citing improving operating margins, above average returns on equity, and resilient prospects despite a challenging macro backdrop for specialty chemicals volumes. Analyst Commentary Bullish analysts highlight that Ecolab's medium term setup remains attractive, underpinned by structurally improving operating margins and above average returns on equity that support a higher valuation multiple.
SHW
US$328.69
Sherwin-Williams
7D
-1.3%
1Y
-9.8%

SHW: Pricing Power And Margin Discipline Will Drive Upside Through Macro Volatility

The analyst price target for Sherwin-Williams has been modestly increased to about $386 from roughly $386, as analysts balance cautious views on a challenging macro environment and uneven end markets with support from select target raises and an unchanged long-term earnings multiple outlook. Analyst Commentary Recent research updates on Sherwin-Williams reflect a mixed but generally constructive stance, with modest target changes capturing both improving company specific execution and ongoing macro uncertainty across key end markets.
NEU
US$752.37
NewMarket
7D
-1.8%
1Y
38.9%
APD
US$243.00
Air Products and Chemicals
7D
-6.8%
1Y
-22.2%

APD: Decarbonization Projects Will Drive Future Earnings Confidence Despite Turnaround Uncertainty

Analysts have reduced their average price target for Air Products and Chemicals by about $2 to roughly $309, reflecting slightly softer assumptions for growth and margins, even as they highlight ongoing earnings potential from the company’s decarbonization initiatives and turnaround efforts. Analyst Commentary Recent research updates reflect a mixed but generally constructive view on Air Products and Chemicals, with valuation expectations coming down modestly while longer term growth drivers, especially in decarbonization, remain a key focus.
MOS
US$26.21
Mosaic
7D
11.0%
1Y
-2.2%

MOS: Strong Harvest And Deferred Demand Will Support Future Upside

We trim our Mosaic fair value estimate by approximately $1 to $34 per share, as analysts broadly lower price targets in response to softer near term fertilizer demand, weaker phosphate volumes and margins, and higher expected input costs, partially offset by selective optimism on execution and harvest driven demand. Analyst Commentary Street research on Mosaic has turned more mixed as analysts recalibrate expectations for fertilizer pricing, volumes, and input costs.
ICL
US$5.07
ICL Group
7D
-2.1%
1Y
-0.6%
DOW
US$23.97
Dow
7D
4.4%
1Y
-41.3%

DOW: Cost Discipline And Higher Operating Rates Will Support Future Upside Potential

Analysts raised their price target for Dow Inc. by $3 to $27, reflecting confidence in recent cost-driven earnings strength while still acknowledging macro headwinds and commodity market volatility.
ASPI
US$5.94
ASP Isotopes
7D
-9.2%
1Y
18.8%
LIN
US$416.24
Linde
7D
4.2%
1Y
-4.4%

LIN: Earnings Momentum And Defensive Appeal Will Drive Share Performance Into 2026

Linde's analyst price target saw a slight decrease, dropping from $507 to $500, as analysts revised their outlook based on expectations for future earnings growth acceleration and the company's continued positioning as a defensive growth stock, even with ongoing sector challenges. Analyst Commentary Recent analyst reports reflect a balanced but nuanced outlook for Linde, with both positive and cautious perspectives shaping market sentiment.
PCT
US$8.78
PureCycle Technologies
7D
-5.5%
1Y
-25.3%