Celanese
Through the investors’ lenses
Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.
Warren Buffett 0/4
| Measure | CE | Checked against | |
|---|---|---|---|
| Owner earnings | $-748.00m | positive | ✗ |
| Return on equity | -28.8% | median 11.7% | ✗ |
| Debt to equity | 3.41x | median 0.79x | ✗ |
| Operating margin | -8.2% | median 15.0% | ✗ |
Passes 0 of 4. To be clear: Warren Buffett has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
Terry Smith 0/3
| Measure | CE | Checked against | |
|---|---|---|---|
| Return on capital employed | -4.4% | median 10.1% | ✗ |
| Cash conversion | — | median 1.78x | — |
| Operating margin | -8.2% | median 15.0% | ✗ |
| Debt to equity | 3.41x | median 0.79x | ✗ |
Passes 0 of 3. To be clear: Terry Smith has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
Charlie Munger 0/3
| Measure | CE | Checked against | |
|---|---|---|---|
| Return on capital employed | -4.4% | median 10.1% | ✗ |
| Return on equity | -28.8% | median 11.7% | ✗ |
| Operating margin | -8.2% | median 15.0% | ✗ |
Passes 0 of 3. To be clear: Charlie Munger has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
Chuck Akre 1/3
| Measure | CE | Checked against | |
|---|---|---|---|
| Return on equity | -28.8% | median 11.7% | ✗ |
| Debt to equity | 3.41x | median 0.79x | ✗ |
| Cash conversion | — | median 1.78x | — |
| Return on equity, sustained | 8 of 10 | 8 of 10 above median | ✓ |
Passes 1 of 3. To be clear: Chuck Akre has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
Philip Fisher 0/4
| Measure | CE | Checked against | |
|---|---|---|---|
| Operating margin | -8.2% | median 15.0% | ✗ |
| Net margin | -12.2% | median 10.2% | ✗ |
| Return on capital employed | -4.4% | median 10.1% | ✗ |
| Operating margin, held or improving | -8.2% | 10-yr median 14.0% | ✗ |
Passes 0 of 4. To be clear: Philip Fisher has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
Walter Schloss 1/2
| Measure | CE | Checked against | |
|---|---|---|---|
| Current ratio | 1.55x | median 1.25x | ✓ |
| Debt to equity | 3.41x | median 0.79x | ✗ |
Passes 1 of 2. To be clear: Walter Schloss has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
Benjamin Graham 0/3
| Measure | CE | Checked against | |
|---|---|---|---|
| Current ratio | 1.55x | 2.00x published | ✗ |
| Long-term debt to working capital | 6.28x | 1.00x published | ✗ |
| Positive earnings, ten years running | 0 yrs | 10 published | ✗ |
Passes 0 of 3. To be clear: Benjamin Graham has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
Joel Greenblatt 0/1
| Measure | CE | Checked against | |
|---|---|---|---|
| Return on capital employed | -4.4% | median 10.1% | ✗ |
Passes 0 of 1. To be clear: Joel Greenblatt has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
Peter Lynch 0/2
| Measure | CE | Checked against | |
|---|---|---|---|
| Debt to equity | 3.41x | median 0.79x | ✗ |
| Net margin | -12.2% | median 10.2% | ✗ |
Passes 0 of 2. To be clear: Peter Lynch has never said anything about Celanese. These are the company’s own figures put through the tests he described. What he looks at, and why →
| Basis | Payout | Why |
|---|---|---|
| GAAP earnings | negative | whyLost $10.64 per share — no earnings to pay from. |
| Operating cash flow | 1.1% | whyBefore capital spending. |
| Free cash flow | 1.6% | whyNets out the capital spending producers cut in downturns — so it flatters a trough year. |
All bases agree, within a point.
Coverage rating 77 / 100 — Adequate. ? Peer standing 47/50Direction 30/30Stability 0/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2025-12-31 | 1.6% |
| 2024-12-31 | 57.8% |
| 2023-12-31 | 22.9% |
| 2022-12-31 | 23.3% |
| 2021-12-31 | 23.6% |
| 2020-12-31 | 29.9% |
94% of the 36 materials here pay out more — comfortable for the sector.
The arithmetic
- GAAP earnings — dividends declared per share $0.119 ÷ diluted EPS $-10.64
- Operating cash flow — dividends paid $13.0m ÷ operating cash flow $1,146m
- Free cash flow — dividends paid $13.0m ÷ (operating cash flow $1,146m − capex $343m)
Where the figures came from
- 10-K filed 2026-02-24 · accession 0001306830-26-000031
All public at sec.gov — you should not have to take our word for it.
Caveats on this company
- DPS derived from dividends paid ($0.12); no per-share tag filed
Computed straight from SEC XBRL. A number that looks wrong to you is more useful to us than agreement — tell us.
What the free cash flow payout ratio measures, and where every company here sits on it.
Also on: rated adequate · when it files.
When this changes
Every figure above is recomputed whenever Celanese files. The monthly letter carries what filed, what moved, and one finding computed across every company here.