Stock

Solvay S.A.

SLVYY

Chemicals · Basic Materials

Price

$2.98

+0.03 (+1.02%)

Market Cap

$3.11B

Exchange

Other OTC

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Sep 6, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Strong

Stability

Mixed

Valuation

Data not available

Dividends

Good

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Share count rising — dilution

+1.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.04B (2021) → 1.05B (2025)

§Winston Score History

The full picture

Solvay is a Belgian chemicals company that makes specialty materials used in everyday products and industrial applications. Its products include soda ash, peroxides, silica, and advanced polymers that go into things like glass, detergents, car parts, and electronics. It is one of the world's largest producers of soda ash, a key ingredient in flat glass and cleaning products.

Solvay earns revenue by selling chemicals and materials to manufacturers across industries like construction, automotive, consumer goods, and energy. The company operates in dozens of countries, with significant presence in Europe, North America, and Asia. Following its 2023 split from specialty chemicals unit Syensqo, Solvay is now a more focused essential chemicals business. Growth depends on demand for soda ash driven by solar panel production and construction activity, but the company faces risks from energy cost volatility and cyclical swings in industrial demand.

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

-5.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+318.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€22M/ year

↓ Declining (-35% vs prior year)

0.5% of revenue

Below sector average (3%)

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

Insider Activity

93.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

€669M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

Solvay S.A.'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

18.7%

Thin — 18.7% gross margin

Profit after running costs

Operating Margin

6.4%

Modest — 6.4% operating margin

Return on the money invested

ROCE

12.1%

Good — 12.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-7.9%

Shrinking sales (-7.9% YoY)

Profit growth

EPS YoY

-97.8%

Earnings shrinking (-97.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

14753%

Turns 14753% of profit into real cash

Spare cash per sale

FCF Margin

8.0%

Modest free cash flow (8.0%)

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

2.14

Heavy debt load (2.14)

Covers its interest

Interest Cover

3.11x

Tight — interest eats into profit (3.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/A

Data not available

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

11.37%

Healthy income — 11.37% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

-22.9%

Dividend cut (-22.9% YoY) — warning sign

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