Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
LYB reported a sharp reversal to an operating loss of -$420M in FY2025, with revenue declining 9.7% to $30.2B and EPS swinging to -$2.34, reflecting severe margin compression across its chemical operations.
Revenue
$30.15B
-9.71% YoY
EPS (Diluted)
-$2.34
-156.39% YoY
Operating Income
-$420M
-121.90% YoY
Source: SEC XBRL
LyondellBasell Industries N.V (LYB) reported FY2025 revenue of $30.15B, down 9.7% year over year. Operating margin was -1.4%, against 5.7% a year earlier. Operating cash flow was $2.26B, down 40.8% year over year.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 4.30 | 3.45 | Beat +24.7% |
| Mar 2026 | 0.49 | 0.20 | Beat +140.4% |
| Dec 2025This filing | -0.26 | 0.13 | Miss -299.7% |
| Sep 2025 | 1.01 | 0.81 | Beat +24.2% |
Reported EPS of -$0.26 versus the $0.13 analyst consensus — a -299.7% miss for Dec 2025.
Compiled by AI from this SEC filing
Total revenue fell 9.7% year-over-year from $33.4B to $30.2B in FY2025, suggesting a combination of lower product pricing and/or reduced volumes in LYB's core chemicals and polymers segments amid a challenging macroeconomic and commodity environment.
Source: 10-K Income Statement, Financial Data
Operating income collapsed from $1.92B in FY2024 to -$420M in FY2025, a deterioration of over $2.3B. The operating margin turned deeply negative at -1.4% versus +5.7% in the prior year, indicating that cost reductions (-4.1% in cost of revenue) were insufficient to offset the steeper revenue decline.
Source: 10-K Income Statement & Key Ratios, Financial Data
Despite the operating loss, LYB generated $2.26B in operating cash flow in FY2025, down 40.8% from $3.82B in FY2024. The gap between operating income and cash flow is largely bridged by $1.39B in depreciation and amortization, highlighting the capital-intensive nature of the business.
Source: 10-K Cash Flow Statement, Financial Data
Stockholders' equity declined 19.1% from $12.46B to $10.08B, reflecting the net loss recorded in FY2025 and continued capital returns to shareholders including $201M in share buybacks, signaling balance sheet pressure.
Source: 10-K Balance Sheet, Financial Data
LYB continued returning capital to shareholders with $201M in share repurchases in FY2025 (up slightly from $195M in FY2024), while investing cash outflows moderated to -$1.78B from -$1.85B, suggesting a cautious approach to capital allocation amid earnings headwinds.
Source: 10-K Cash Flow Statement, Financial Data
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
LYB's profitability is highly sensitive to the spread between raw material input costs (primarily oil and natural gas derivatives) and finished chemical/polymer product prices. The FY2025 operating loss demonstrates that when these spreads compress, earnings can deteriorate rapidly even with modest cost reductions. A prolonged period of weak chemical pricing could further erode margins.
Source: 10-K Income Statement & Operating Margin, Financial Data
The 9.7% revenue decline to $30.2B reflects LYB's exposure to cyclical industries such as automotive, packaging, and construction. Demand downturns in these sectors can simultaneously reduce volumes and pricing power, creating a double headwind as seen in FY2025.
Source: 10-K Income Statement, Financial Data
Stockholders' equity fell 19.1% to $10.08B while total assets declined only 4.9% to $34.0B, implying that liabilities are becoming a larger proportion of the capital structure. Continued losses could further weaken the equity base and potentially pressure credit metrics.
Source: 10-K Balance Sheet, Financial Data
Operating cash flow dropped 40.8% to $2.26B in FY2025. With investing outflows of -$1.78B, free cash flow is estimated at approximately $486M — a significant reduction from prior years. If earnings do not recover, sustaining dividends and buybacks alongside capital expenditures may become challenging.
Source: 10-K Cash Flow Statement, Financial Data
SG&A expenses of $1.61B declined only 1.9% despite a 9.7% revenue drop, indicating a relatively fixed cost structure that limits the company's ability to quickly right-size expenses in a downturn. This rigidity amplifies the impact of revenue declines on operating income.
Source: 10-K Income Statement, Financial Data
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 30.15 $B | 33.39 $B | -9.71% |
Cost of Revenue $B | 27.58 $B | 28.75 $B | -4.08% |
Operating Income $B | -0.42 $B | 1.92 $B | -121.90% |
EPS (Basic) $ | -2.34 $ | 4.16 $ | -156.25% |
EPS (Diluted) $ | -2.34 $ | 4.15 $ | -156.39% |
R&D Expense $M | 136.00 $M | 135.00 $M | +0.74% |
SG&A Expense $B | 1.61 $B | 1.64 $B | -1.95% |
Answers draw on this SEC filing and the data on this page
LyondellBasell Industries N.V. (LYB) reported strong financial results in Q2 FY2026 with revenue rising 19.8% YoY to $9.18B and operating income jumping 441.4% YoY to $1.54B, driven by margin expansion amid Middle East supply constraints, despite absorbing a $734M pre-tax loss on European asset divestitures.
LyondellBasell (LYB) reported Q1 2026 revenue of $7.20B (down 6.3% YoY) while operating income more than doubled to $239M, though EPS fell 29.6% to $0.38 and operating cash flow remained negative at -$269M.
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