Does OLIN Corp have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores OLIN Corp (OLN) 12.7 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 11, balance-sheet safety 0, capital discipline 48.

Is OLN 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 $73.30 per share versus a recent price of $21.99 — 70% below value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has OLN's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 12.7 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

OLIN Corp

OLN · Materials · $2.5B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power0

Median gross margin 11.3% over 10y, variable.

Returns on capital11

Median ROIC 4.8%, above the 9% hurdle in 30% of years.

Balance-sheet safety0

Net debt/EBITDA 5.0x, interest coverage 0x.

Capital discipline48

Owner earnings -2.8%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

70% below value

Owner earnings (normalized): $749.4M
Est. intrinsic value / share: $73.30
Recent price: $21.99
Discount to value: 70% below value

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

19 years of fundamentals

The business, in plain English

OLIN Corp booked $6.8B of revenue in FY2025 in the Materials sector and kept 7.4% of it as gross profit — a thin-margin business by that measure. After every other cost, −1.5% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $1.8B (FY2008) to $6.8B (FY2025) — about 8.2% a year compounded over 17 years.

It earned 0.1% on invested capital in FY2025, with a median of 14.0% across 18 filed years. The Returns on Capital filter above scores it 11/100.

The balance sheet carried $2.8B of total debt in FY2025 against $194.2M of owner earnings — roughly 14.6 years of owner earnings to retire it all. Balance-Sheet Safety scores it 0/100.

The share count rose 44.3% between FY2009 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 48/100.

Put together: Capital Discipline is the strongest of the four filters (48/100) and Pricing Power the weakest (0/100), which is how OLN lands at 13/100 — a None 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$6.8B FY2025

Gross marginRevenue kept after cost of goods7.4% FY2025

Return on invested capitalOperating profit on the capital employed0.1% FY2025

Owner earningsCash an owner could take out$194.2M FY2025

Gaps in a line mean that item isn’t in OLN’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 scale12.7 / 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 — OLN has read No 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

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

Nearest peers by Moat Score

#199KLXE KLX Energy Services Holdings, Inc.13.9 out of 100, No moatNo moat
#200MAGN Magnera Corporation13.0 out of 100, No moatNo moat
#202CMP Compass Minerals International, Inc.11.0 out of 100, No moatNo moat
#203NINE Nine Energy Service, Inc.11.0 out of 100, No moatNo moat

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

Common questions about OLN

Does OLIN Corp have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores OLIN Corp (OLN) 12.7 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 0, returns on capital 11, balance-sheet safety 0, capital discipline 48.
Is OLN 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 $73.30 per share versus a recent price of $21.99 — 70% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has OLN's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 12.7 out of 100 (no 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 OLN. See the disclaimer.