Hexion Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Hexion Inc (HXN) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Hexion Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 3,205M vs 26,052M combined for its competitors (11.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+17.9% annualized vs trailing 12 months), vs accelerating (+26.0%) for its tracked peer group.
- Growth: Hexion Inc generated 49.1% revenue growth year over year in Q2 2021, vs 56.0% for its competitors combined.
- Profitability: Its 5.2% net margin compares with 15.5% for the peer group.
- Peer revenue share: Hexion Inc accounted for 10.3% of combined revenue among its tracked peer group, down from 10.8% a year earlier.
- Peer differentiation: Revenue per employee of $0.75M compares with $0.78M for the peer group (1.0x).
- Structure: Hexion Inc operates in the following segments: Coatings and Composites, Adhesives.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
HXN Sales vs. its Competitors, Q2 2021
Hexion Inc reported revenue growth of 49.05 % year on year in Q2 2021, below its competitors' combined revenue growth of 55.95 %.
With a net margin of 5.19 %, Hexion Inc reported lower profitability than its competitors (15.46 %).
Hexion Inc generated 10.33 % of the combined sales of its peer group, down from 10.76 % a year earlier.
API endpoints for this dataset
Hexion Inc vs. its Competitors, Q2 2021
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Hexion Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Hexion Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Hexion Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Hexion Inc's competitor groups requires a Commercial License.
For context: the Chemicals - Plastics & Rubber industry grew revenue -1.0% year over year, combined, vs 49.1% for Hexion Inc. Hexion Inc's share of combined industry revenue moved from 1.45% to 2.18%, a gain of 0.73 percentage points.
Hexion Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Hexion Inc | Yes | Yes | Yes | No |
| Competitors combined (5) | ||||
| High-Confidence Competitors (3) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
HXN Stock Performance relative to its Competitors
HXN Stock Performance relative to High-Confidence Competitors
HXN Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Huntsman Corporation | 282.9% | Outperformed |
| 2 | Quaker Chemical Corporation | 282.9% | Outperformed |
| 3 | Westlake Corporation | 282.9% | Outperformed |
| 4 | Olin Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Hexion Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Hexion Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Hexion Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Hexion Inc |
- | 3,205.00 |
 Westlake Corporation |
8,067.26 | 11,294.00 |
 Quaker Chemical Corporation |
2,668.06 | 2,026.06 |
 Olin Corporation |
2,030.90 | 6,737.70 |
 Huntsman Corporation |
1,671.18 | 5,693.00 |
 Trecora Resources |
231.52 | 301.32 |
| SUBTOTAL | 14,668.92 | 29,257.07 |
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Hexion Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Hexion Inc's Competitors Named by the Company
Competitive relationships identified from Hexion Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Olin | Company report | 85% |
| Aditya Birla (Thai Epoxy) | Company report | 85% |
| CCP | Company report | 85% |
| Kangda | Company report | 85% |
| Spolchemie | Company report | 85% |
| BASF | Company report | 85% |
| Georgia-Pacific | Company report | 85% |
| Nan Ya | Company report | 85% |
| Evonik | Company report | 85% |
| Allnex | Company report | 85% |
| Foremark Performance Chemicals | Company report | 85% |
| Kukdo | Company report | 85% |
| Swancor | Company report | 85% |
| Bohui | Company report | 85% |
| Huntsman | Company report | 85% |
| Arclin | Company report | 85% |
| Formosa Plastics Group | Company report | 85% |
| Leuna Harze | Company report | 85% |
| Techstorm | Company report | 85% |
| Quaker Chemical Corporation | Company report | 85% |
| Westlake Corporation | Company report | 85% |
| Trecora Resources | Company report | 85% |
Company report basis, confidence, active dates and source counts for Hexion Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Hexion Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Hexion Inc | Coatings and Composites 54.71 % |
| Westlake Corporation | Performance and Essential Materials 63.54 % |
| Olin Corporation | Chlor Alkali Products and Vinyls 48.68 % |
| Huntsman Corporation | Polyurethanes 58.14 % |
| Trecora Resources | Petrochemical 84.82 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Hexion Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Hexion Inc | - | 745,349 | 14,651 |
| Westlake Corporation | 8,067 | 773,562 | -81,575 |
| Quaker Chemical Corporation | 2,668 | 431,076 | 20,700 |
| Olin Corporation | 2,031 | 858,415 | -28,679 |
| Huntsman Corporation | 1,671 | 948,833 | -46,500 |
| Trecora Resources | 232 | 971,997 | 29,003 |
| PEERS TOTAL | 14,669 | 778,627 | -47,486 |
Hexion Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Hexion Inc | North America 58.10 % |
| Quaker Chemical Corporation | Americas 46.65 % |
| Olin Corporation | United States 69.99 % |
| Huntsman Corporation | Asia Pacific 33.59 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Hexion Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Chemicals - Plastics & Rubber industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (41 companies). See the full Chemicals - Plastics & Rubber industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | -20.00 % | 16.60 % (avg) | -36.6 pp |
| Operating Margin | 6.43 % | industry median | -4.6 pp |
| EBITDA Margin | 14.66 % | 9.40 % (avg) | +5.3 pp |
| Capital Intensity (Capex / Revenue) | 3.40 % | 6.67 % (avg) | -3.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Hexion Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|
| Revenue Growth | 4.45 % | 5.74 % | -26.15 % | -10.49 % |
| Operating Margin | 3.12 % | 5.98 % | 0.68 % | -2.55 % |
| Return on Invested Capital | -2.31 % | - | 3.86 % | -1.48 % |
| P/E | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Hexion Inc's Strategic Group Map
Hexion Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Hexion Inc's trailing-12-month revenue growth of 29.0% and operating margin of 6.4% compares with an average of 13.2% growth and 8.7% margin across its 8 closest peers by combined growth, margin and ROIC -- Hexion Inc sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Hexion Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.40 % vs industry average 6.67 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Hexion Inc's dedicated Suppliers and Customers pages, not here.
Hexion Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Hexion Inc falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Hexion Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+17.9% annualized vs trailing 12 months).
Weaknesses
- Return on equity 13.9 points below the industry aggregate.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Hexion Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Hexion Inc | 0.08 | 1.62 | 1.95 |
| Westlake Corporation | 0.80 | 2.20 | 0.56 |
| Quaker Chemical Corporation | 0.42 | 2.45 | 0.95 |
| Olin Corporation | 0.09 | 1.36 | 1.69 |
| Huntsman Corporation | 0.26 | 1.34 | 0.68 |
| Trecora Resources | 1.20 | 3.05 | 0.21 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Hexion Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Hexion Inc | Q3 2021 | +49.1 % | - |
| Westlake Corporation | Q2 2026 | +10.8 % | - |
| Quaker Chemical Corporation | Q3 2026 | +10.3 % | -1.7 % |
| Olin Corporation | Q3 2026 | +2.0 % | -67.0 % |
| Huntsman Corporation | Q1 2026 | +0.7 % | - |
| Trecora Resources | Q1 2022 | +52.4 % | - |
| PEERS TOTAL | +10.4 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Hexion Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Hexion Inc | Q3 2021 | +50.0 % | - |
| Westlake Corporation | Q2 2026 | -2.8 % | -22.5 % |
| Quaker Chemical Corporation | Q3 2026 | +12.2 % | -14.2 % |
| Olin Corporation | Q3 2026 | +3.0 % | -52.3 % |
| Huntsman Corporation | Q1 2026 | +2.3 % | +5.6 % |
| Trecora Resources | Q1 2022 | +44.2 % | +1.5 % |
Hexion Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Hexion Inc | 1.62% | 1.92% | 7.26% |
| Westlake Corporation | - | - | - |
| Quaker Chemical Corporation | 3.42% | 3.45% | 7.01% |
| Olin Corporation | - | - | - |
| Huntsman Corporation | - | - | - |
| Trecora Resources | 3.00% | 3.28% | 4.50% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Hexion Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Hexion Inc | - | - |
| Westlake Corporation | - | 0.71 |
| Quaker Chemical Corporation | 27.52 | 1.32 |
| Olin Corporation | - | 0.30 |
| Huntsman Corporation | - | 0.29 |
| Trecora Resources | 27.58 | 0.77 |
| PEERS AVERAGE | - | 0.50 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.