# Albemarle Corporation (ALB) — Stock CV

Albemarle Corporation is a $12.0B materials company. Revenue grew 18.3% over the last year, it keeps 4¢ of every dollar of sales as profit, and its net debt equals ~1.1 years of free cash flow. It trades at 53.3× earnings.

> Albemarle is one of the world's largest lithium producers. In the lithium industry, the majority of demand comes from batteries, where lithium is used as the energy storage material, particularly in electric vehicles.

## Identity

- **Ticker**: ALB
- **Sector**: Basic Materials
- **Industry**: Plastic Materials, Synth Resins & Nonvulcan Elastomers
- **Headquarters**: CHARLOTTE, NC
- **Employees**: 7 800
- **Website**: https://www.albemarle.com
- **Market cap**: $12.0B
- **Last price**: $101.41
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $5.91B
- **Net income**: $224M
- **Free cash flow**: $1.34B
- **Net debt**: $1.50B
- **P/E**: 53.3
- **Revenue growth (YoY)**: 18.3%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 85 |
| Growth | 45 |
| Profitability | 16 |
| Health | 63 |
| Quality | 77 |
| Moat | 19 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +18.3% YoY
- [x] Profitable — $224M TTM
- [x] Profit growing — +56.7% YoY
- [x] Generates cash — $1.34B TTM
- [x] Debt under control — ~1.1y of cash flow to repay
- [x] Established company — $12.0B market cap
- [ ] Not printing shares — +10.2% shares over ~5y
- [x] Proven track record — 8/10 profitable years
- [x] Financially stable — Altman Z 2.5 — grey
- [x] Pays a dividend — yield 2.99%
- [ ] Valuation not extreme — P/E 53.3

## Experience (career milestones)

- **2023** — Albemarle Corporation launched the Ketjen subsidiary
- **FY2022** — Best year on record: $2.69B net income
- **FY2016** — First recorded profitable year: $644M net income
- **FY2016** — Revenue already above $1B: $2.68B in first reported year
- **2015** — Albemarle acquired Rockwood Holdings for $6.2 billion in stock
- **2009** — Albemarle and TAYF, an affiliate of SABIC, created a catalysts joint venture to build a world-scale…
- **2006** — In partnership with UOP, a subsidiary of Honeywell, Albemarle created the Hydroprocessing Alliance to…
- **2003** — It acquired the fuel and lubricant antioxidants business of Ethyl Corporation
- **2000** — The company acquired Ferro Corporation's PYRO-CHEK flame retardant business
- **2000** — The company launched PolymerAdditives.com, a business-to-business internet joint venture with Cytec…
- **1998** — The company bought a custom manufacturing and oilfield chemicals plant in Teesport, England
- **1994** — Ethyl Corporation completed the corporate spin-off of its chemical businesses to form Albemarle…
- **1887** — Albemarle Paper Manufacturing Company was founded in Richmond, Virginia

## Strengths

- Revenue growing 18.3% year over year
- Strong cash conversion — FCF is 22.7% of revenue
- Could repay net debt from ~0.3 years of free cash flow

## Watch-outs

- Thin interest coverage (-1.3×)
- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.33B | $124M | -$609M |
| FY2022 | $7.32B | $2.69B | $646M |
| FY2023 | $9.62B | $1.57B | -$824M |
| FY2024 | $5.38B | -$1.18B | -$984M |
| FY2025 | $5.14B | -$511M | $692M |

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Source: https://stockcv.com/ALB — derived from company filings; may be delayed or incomplete. Information, not investment advice.