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U.S. Chemicals Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies128
  • 7D1.9%
  • 3M14.4%
  • 1Y3.6%
  • YTD12.7%

Over the last 7 days, the Chemicals industry has risen 1.9%, driven by gains from Linde of 3.4%. In the last 12 months, the industry was up 3.6%. Looking forward, earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Mar 2026US$815.9bUS$357.1bUS$7.4b28.2x109.9x2.3x
Fri, 13 Feb 2026US$841.9bUS$365.8bUS$6.1b26.9x138.1x2.3x
Sun, 11 Jan 2026US$767.4bUS$372.0bUS$11.0b25.6x69.9x2.1x
Tue, 09 Dec 2025US$700.2bUS$371.7bUS$11.0b23.4x63.8x1.9x
Thu, 06 Nov 2025US$698.0bUS$369.7bUS$13.1b26x53.4x1.9x
Sat, 04 Oct 2025US$765.1bUS$367.8bUS$15.6b26.3x49.2x2.1x
Mon, 01 Sep 2025US$799.9bUS$367.6bUS$15.5b26.5x51.5x2.2x
Wed, 30 Jul 2025US$792.4bUS$376.1bUS$16.6b22.5x47.8x2.1x
Fri, 27 Jun 2025US$770.8bUS$378.4bUS$18.1b22.2x42.5x2x
Sun, 25 May 2025US$761.1bUS$378.5bUS$17.1b22.1x44.4x2x
Tue, 22 Apr 2025US$725.1bUS$380.8bUS$23.0b17.2x31.5x1.9x
Thu, 20 Mar 2025US$790.6bUS$380.9bUS$23.0b20.8x34.3x2.1x
Sat, 15 Feb 2025US$827.5bUS$381.1bUS$22.8b21.3x36.3x2.2x
Mon, 13 Jan 2025US$768.1bUS$384.4bUS$23.5b18.3x32.7x2x
Wed, 11 Dec 2024US$844.5bUS$384.3bUS$23.4b22.4x36x2.2x
Fri, 08 Nov 2024US$864.7bUS$385.8bUS$22.5b25.1x38.4x2.2x
Sun, 06 Oct 2024US$878.0bUS$381.7bUS$23.8b25.6x36.9x2.3x
Tue, 03 Sep 2024US$873.6bUS$383.7bUS$23.4b25.6x37.3x2.3x
Thu, 01 Aug 2024US$840.3bUS$379.7bUS$23.5b26.7x35.7x2.2x
Sat, 29 Jun 2024US$809.2bUS$379.9bUS$23.4b25.5x34.6x2.1x
Mon, 27 May 2024US$826.9bUS$377.3bUS$23.4b26.1x35.3x2.2x
Wed, 24 Apr 2024US$805.4bUS$384.4bUS$25.8b21x31.3x2.1x
Fri, 22 Mar 2024US$846.1bUS$384.6bUS$25.4b20.9x33.3x2.2x
Sun, 18 Feb 2024US$794.7bUS$387.5bUS$29.3b19.9x27.2x2.1x
Tue, 16 Jan 2024US$794.6bUS$398.8bUS$31.9b20.4x24.9x2x
Thu, 14 Dec 2023US$782.9bUS$398.4bUS$31.6b20.6x24.8x2x
Sat, 11 Nov 2023US$724.1bUS$399.0bUS$31.7b16.9x22.9x1.8x
Mon, 09 Oct 2023US$740.7bUS$412.0bUS$31.2b15.6x23.7x1.8x
Wed, 06 Sep 2023US$784.3bUS$412.0bUS$31.2b16.4x25.1x1.9x
Fri, 04 Aug 2023US$796.8bUS$421.8bUS$31.8b14.7x25.1x1.9x
Sun, 02 Jul 2023US$814.9bUS$444.3bUS$39.1b14.4x20.9x1.8x
Tue, 30 May 2023US$755.8bUS$444.6bUS$39.1b12.7x19.3x1.7x
Thu, 27 Apr 2023US$780.9bUS$452.6bUS$43.0b12.6x18.1x1.7x
Sat, 25 Mar 2023US$764.7bUS$452.1bUS$42.6b12.1x17.9x1.7x
Price to Earnings Ratio

17.9x


Total Market Cap: US$764.7bTotal Earnings: US$42.6bTotal Revenue: US$452.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Chemicals Industry Price to Earnings3Y Average 43.4x202420252026
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 110x which is higher than its 3-year average PE of 43.4x.
  • The industry is trading close to its 3-year average PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Chemicals industry have declined 44% per year over the last three years,
  • Revenues have also declined 7.6% 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-0.97%
Materials-2.68%
Chemicals1.90%
Commodity Chemicals7.02%
Fertilizers and Agricultural Chemicals6.75%
Diversified Chemicals5.67%
Industrial Gases3.51%
Specialty Chemicals-1.66%
Industry PE
  • Investors are most optimistic about the Fertilizers and Agricultural Chemicals industry which is trading above its 3-year average PE ratio of 20.0x.
    • Analysts are expecting annual earnings growth of 13.1%, which is lower than the prior year's growth of 40.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 67% over the next 5 years.
  • This is better than its past earnings decline of 16% per year.
  • In contrast, the Fertilizers and Agricultural Chemicals industry is expected to see its earnings grow by 13% 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$494.053.4%
+US$7.5b		7.2%PE33.2x
CTVA CortevaUS$80.054.9%
+US$2.5b		30.0%PE45.1x
APD Air Products and ChemicalsUS$286.154.0%
+US$2.5b		-1.9%PS5.2x
DOW DowUS$36.918.9%
+US$2.2b		-1.9%PS0.7x
CF CF Industries HoldingsUS$123.2912.0%
+US$2.0b		61.4%PE13x

Latest News

ECL
US$272.59
Ecolab
7D
-3.1%
1Y
7.4%
IFF
US$71.28
International Flavors & Fragrances
7D
-2.2%
1Y
-11.8%
LYB
US$71.20
LyondellBasell Industries
7D
8.5%
1Y
-5.2%
FUL
US$54.80
H.B. Fuller
7D
-6.3%
1Y
0.7%

FUL: Higher P/E Assumptions Will Support Upside Despite Muted Revenue Outlook

Analysts have lifted their consolidated price target on H.B. Fuller by several dollars, with recent $2 to $6 upward revisions tied to their updated views on the company’s earnings power and P/E assumptions. Analyst Commentary Bullish analysts raising their targets by $2 to $6 are largely reacting to updated assumptions on H.B. Fuller’s earnings power and the P/E they are willing to apply to those earnings.
LIN
US$494.05
Linde
7D
3.4%
1Y
7.2%
CF
US$123.29
CF Industries Holdings
7D
12.0%
1Y
61.4%

Low Carbon Ammonia And CCS Projects Will Support A Stronger Long Term Outlook

Catalysts About CF Industries Holdings CF Industries Holdings produces nitrogen based fertilizers and low carbon ammonia for agricultural and industrial customers worldwide. What are the underlying business or industry changes driving this perspective?
WLK
US$111.44
Westlake
7D
6.1%
1Y
5.3%

Three Pillar Plan And Housing Tailwinds Will Transform Earnings Quality

Catalysts About Westlake Westlake is a global producer of performance and essential materials and housing and infrastructure products that serve construction, industrial and municipal end markets. What are the underlying business or industry changes driving this perspective?
APD
US$286.15
Air Products and Chemicals
7D
4.0%
1Y
-1.9%
CTVA
US$80.05
Corteva
7D
4.9%
1Y
30.0%

CTVA: Mixed Crop Protection Outlook And New SpinCo Plan Will Shape Risk Balance

The analyst price target for Corteva edges higher to $83.33 from $82.76, as analysts factor in slightly firmer long term revenue growth and profit margins, while balancing more cautious views on crop protection trends and a modestly lower discount rate. Analyst Commentary Recent research on Corteva reflects a split view, with several firms lifting price targets while others turn more cautious on execution in crop protection.
PPG
US$103.90
PPG Industries
7D
-1.8%
1Y
-8.5%

PPG: Rising Margin Confidence And Cash Returns Will Support Bullish Outlook

The analyst fair value estimate for PPG Industries edges up to $125.75 from $125.30, reflecting Street price target increases across several firms as analysts update their models on discount rates, long run margin assumptions, and future P/E expectations. Analyst Commentary Street research around PPG Industries has been active, with a cluster of firms updating their models and target prices.
AVNT
US$34.09
Avient
7D
-5.2%
1Y
-15.2%
SHW
US$320.70
Sherwin-Williams
7D
-2.9%
1Y
-4.4%

SHW: Mixed Rating Resets And Active Capital Returns Will Shape Future Pricing Power

The updated analyst price target for Sherwin-Williams reflects a modest fair value adjustment of about $1. Analysts are factoring in slightly lower discount rate and revenue growth assumptions, a small trim to expected profit margins, and a marginally higher future P/E multiple following recent earnings and mixed, but active, target revisions across the Street.
DD
US$45.54
DuPont de Nemours
7D
-0.9%
1Y
-40.9%

DD: Water Technology Expansion And 2026 Guidance Will Support Future Upside

Analysts have kept their $56.13 price target for DuPont de Nemours unchanged, citing largely steady assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. Together, these factors signal a consistent outlook on the stock's risk and return profile.
CE
US$60.18
Celanese
7D
18.8%
1Y
2.8%

CE: Expanded Technology Investments And Lower Multiple Assumptions Will Weigh On Future Upside

Analysts have reduced their price target on Celanese to $41.00. The change is primarily linked to updated assumptions on the discount rate, revenue trends, profit margin and future P/E.
DOW
US$36.91
Dow
7D
8.9%
1Y
-1.9%
AXTA
US$28.10
Axalta Coating Systems
7D
-3.4%
1Y
-18.3%

AXTA: Fair Value View Balances Akzo Merger Uncertainty And Refinish Volume Headwinds

Axalta Coating Systems' analyst fair value estimate has shifted from $30.00 to $33.00 as analysts factor in a mix of recent price target increases from firms raising their views on the stock and fresh caution from others citing merger related uncertainty and auto refinish volume headwinds. Analyst Commentary Recent Street research on Axalta Coating Systems reflects a split view.