Celanese (CE) FY2025 results: revenue $9.5 billion, down 7.2% on the year
Celanese Corp. (CE) reported revenue of $9.5 billion for fiscal 2025, the year ended 31 December 2025, down 7.2% on the year before. Net income was -$1.2 billion, and diluted earnings per share $-10.64. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2026.
Revenue
$9.5 billion
-7.2% on the year
FY2018FY2025
Operating margin
-8.2%
-7.0% a year earlier
FY2018FY2025
Net income
-$1.2 billion
FY2018FY2025
Diluted EPS
-$10.64
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 2 new.
Full-year sales fell 7 percent: Net sales for 2025 were $9.5 billion, down 7 percent, with price and volume each down 4 percent and a small currency benefit.
Full-year loss on impairment charges: Diluted EPS from continuing operations was a loss of $10.44 and adjusted EPS was $3.98. The gap came from Certain Items of $1.6 billion, primarily goodwill and trade name impairments.
Full-year margins: 12 percent adjusted EBIT: The consolidated operating loss was $786 million. Adjusted EBIT was $1.2 billion and operating EBITDA was $1.9 billion, at margins of (8), 12 and 20 percent.
Lower demand in key end-markets: Management said the company saw lower-than-normal demand through the year in automotive, paints, coatings and construction.
Full-year free cash flow $773 million: Operating cash flow was $1.1 billion and free cash flow was $773 million for 2025, against $498 million of free cash flow in 2024.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
1,146
966
1,899
+18.6%
Capital expenditure
343
435
568
-21.1%
Free cash flow
803
531
1,331
+51.2%
Free cash flow margin
8.4%
5.2%
12.2%
Cash from investing
-349
-470
-134
Cash from financing
-513
-1,313
-1,456
Depreciation and amortisation
760
801
706
-5.1%
Share-based compensation
24.0
32.0
40.0
-25.0%
Buybacks
n/a
0.0
0.0
Dividends paid
13.0
307
305
-95.8%
Diluted shares, weighted
110m
109m
109m
+0.2%
Shares outstanding at period end
n/a
109m
109m
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
4,049
5,129
7,065
-21.1%
Non-controlling interest
423
434
461
-2.5%
Debt
12,704
12,635
13,758
+0.5%
Operating lease liabilities
265
294
325
-9.9%
Finance lease liabilities
106
122
124
-13.1%
Other liabilities
4,148
4,243
4,864
-2.2%
Total liabilities and equity
21,695
22,857
26,597
-5.1%
Fixed assets
5,076
5,273
5,584
-3.7%
Goodwill
4,171
5,387
6,977
-22.6%
Intangible assets
3,184
3,641
3,975
-12.6%
Cash and equivalents
1,263
962
1,805
+31.3%
Receivables
922
1,121
1,243
-17.8%
Inventory
2,220
2,284
2,357
-2.8%
Other assets
4,859
4,189
4,656
+16.0%
Total assets
21,695
22,857
26,597
-5.1%
10-K for the year ended 31 December 2025, filed 24 February 2026: the filing.