Does LYONDELLBASELL INDUSTRIES N.V. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores LYONDELLBASELL INDUSTRIES N.V. (LYB) 49.4 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 7, returns on capital 97, balance-sheet safety 28, capital discipline 64.

Is LYB stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $73.27 per share versus a recent price of $59.19 — 19% below value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has LYB's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 49.4 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

LYONDELLBASELL INDUSTRIES N.V.

LYB · Materials · $19.1B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power7

Median gross margin 14.3% over 10y, variable.

Returns on capital97

Median ROIC 43.2%, above the 9% hurdle in 90% of years.

Balance-sheet safety28

Net debt/EBITDA n/ax, interest coverage -1x.

Capital discipline64

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

19% below value

Owner earnings (normalized): $2.1B
Est. intrinsic value / share: $73.27
Recent price: $59.19
Discount to value: 19% below value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

16 years of fundamentals

The business, in plain English

LYONDELLBASELL INDUSTRIES N.V. booked $30.2B of revenue in FY2025 in the Materials sector and kept 8.5% of it as gross profit — a thin-margin business by that measure. After every other cost, −2.4% of each revenue dollar reached the bottom line.

Across the filed record, revenue shrank from $48.2B (FY2011) to $30.2B (FY2025) — about −3.3% a year compounded over 14 years.

It earned −5.0% on invested capital in FY2025, with a median of 46.6% across 15 filed years. The Returns on Capital filter above scores it 97/100.

The balance sheet carried $4.4B of total debt in FY2012. Balance-Sheet Safety scores it 28/100.

The share count fell 43.8% between FY2011 and FY2025 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 64/100.

Put together: Returns on Capital is the strongest of the four filters (97/100) and Pricing Power the weakest (7/100), which is how LYB lands at 49/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$30.2B FY2025

Gross marginRevenue kept after cost of goods8.5% FY2025

Return on invested capitalOperating profit on the capital employed−5.0% FY2025

Owner earningsCash an owner could take out−$738.0M FY2025

Gaps in a line mean that item isn’t in LYB’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale49.4 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — LYB has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Materials context

#75 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

#73FSI FLEXIBLE SOLUTIONS INTERNATIONAL INC.49.7 out of 100, Shallow moatShallow moat
#74TLF TANDY LEATHER FACTORY, INC49.6 out of 100, Shallow moatShallow moat
#76MYE Myers Industries, Inc.49.2 out of 100, Shallow moatShallow moat
#77ROG Rogers Corporation47.6 out of 100, Shallow moatShallow moat

Compare LYB with its nearest peers →All Materials companies on the Index →

Common questions about LYB

Does LYONDELLBASELL INDUSTRIES N.V. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores LYONDELLBASELL INDUSTRIES N.V. (LYB) 49.4 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 7, returns on capital 97, balance-sheet safety 28, capital discipline 64.
Is LYB stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $73.27 per share versus a recent price of $59.19 — 19% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has LYB's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 49.4 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell LYB. See the disclaimer.