Olin Corporation

OLN

Chemicals · Basic Materials

Price

$18.40

-0.23 (-1.23%)

Market Cap

$2.10B

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

Dividends

Good

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Share count falling — buybacks

−29.7% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 163.0M (2021) → 114.6M (2025)

Winston Score History

The full picture

Olin Corporation makes chemicals and ammunition. Its chemical business produces chlorine and caustic soda — basic building blocks used in water treatment, plastics, and paper manufacturing. Its Winchester division is one of the most recognized ammunition brands in the United States, selling bullets and shotgun shells to hunters, sport shooters, and the military.

Olin earns revenue by selling these products directly to industrial customers and through retail channels for ammunition. The company operates primarily in North America but has some international chemical sales. Its Winchester brand gives it a durable position in the ammunition market, while its chemical business benefits from being one of the largest chlor-alkali producers in the world. However, chlor-alkali is a commodity business, and the current negative operating margin reflects weak chemical pricing — the main risk is that oversupply in the chlorine market continues to pressure profits before a pricing recovery takes hold.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-961.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$177M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Olin Corporation's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-4.6%

Thin — -4.6% gross margin

Profit after running costs

Operating Margin

1.6%

Thin — 1.6% operating margin

Return on the money invested

ROCE

-1.9%

Weak — -1.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+0.6%

Nearly flat sales (+0.6% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

1/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

1.8%

Thin free cash flow (1.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

1.95

Elevated debt (1.95)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

4.24%

Healthy income — 4.24% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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