Indorama Ventures (INDOY) AI Stock Analysis

Indorama Ventures

(Other OTC:INDOY)

Select Model

Rating:51Neutral

Price Target:$7.50▲(1.30% Upside)

Action:reiterated

Date:09/10/26

The score is driven primarily by mixed financial performance: improving operations and strong free-cash-flow momentum are tempered by persistent net losses and high leverage. Technicals are supportive with the stock trading above major moving averages and positive MACD, but overbought readings (RSI/Stochastics) add near-term risk. Valuation remains pressured by the negative P/E, with the dividend yield offering only modest support.

Positive Factors

Vertical IntegrationParticipation across multiple stages of the polyester and PET value chain can help Indorama Ventures capture margin at different production steps and improve supply coordination. This integrated model also provides some ability to offset weakness in one product area with stronger conditions elsewhere.

Negative Factors

Persistent Net LossesPersistent bottom-line losses show that the operating improvement has not yet translated into durable shareholder profitability. Continued losses can restrict retained capital, weaken returns on equity and leave earnings more vulnerable to adverse changes in petrochemical demand or margins.

Indorama Ventures (INDOY) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $3.76B
Dividend Yield: 3.31%
Average Volume (3M): 450
Price to Earnings (P/E): -42.4
Beta (1Y): 0.27
Revenue Growth: -2.67%
EPS Growth: -538.98%
Country: US
Employees: 22,027
Sector: Basic Materials
Sector Strength: 61
Industry: Chemicals

Indorama Ventures Business Overview & Revenue Model

Company Description

Indorama Ventures Public Company Limited functions as a global manufacturer and distributor of a wide array of chemical and fiber products. Its extensive product range includes polyethylene terephthalate (PET), purified terephthalic acid (PTA), parax...

How the Company Makes Money

Indorama Ventures makes money primarily by manufacturing and selling petrochemical and polymer products, with earnings largely driven by sales volumes, product mix, and the spread (margin) between selling prices and raw-material/feedstock costs. Key...

Indorama Ventures Financial Statement Overview

Summary

Operational trends are improving (revenue +4.8% TTM, margins improved with EBIT turning positive, and free cash flow up +47%), but the overall financial profile is still constrained by persistent net losses and elevated leverage (~2.4x debt-to-equity), limiting flexibility in a cyclical chemicals environment.

Income Statement

44Neutral

Balance Sheet

40Negative

Cash Flow

63Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	460.97B	428.76B	541.58B	544.30B	656.27B	470.55B
Gross Profit	60.15B	47.78B	75.26B	68.26B	114.04B	84.98B
EBITDA	36.87B	24.49B	22.18B	29.47B	76.32B	63.81B
Net Income	-2.25B	-7.35B	-19.26B	-10.80B	31.01B	26.29B
Balance Sheet
Total Assets	566.86B	523.73B	541.55B	590.13B	623.88B	541.83B
Cash, Cash Equivalents and Short-Term Investments	39.04B	28.00B	19.08B	20.79B	23.06B	16.46B
Total Debt	280.59B	279.16B	262.02B	254.33B	254.31B	224.23B
Total Liabilities	436.76B	409.62B	402.62B	412.06B	422.99B	370.82B
Stockholders Equity	117.54B	102.68B	125.95B	164.36B	185.99B	158.77B
Cash Flow
Free Cash Flow	32.13B	15.49B	17.52B	26.90B	49.42B	10.57B
Operating Cash Flow	47.82B	32.64B	35.11B	53.13B	77.98B	33.77B
Investing Cash Flow	-16.28B	-25.55B	-21.88B	-25.65B	-74.16B	-25.77B
Financing Cash Flow	-13.74B	2.52B	-14.54B	-28.91B	1.52B	-10.89B

Indorama Ventures Technical Analysis

Technical Analysis SentimentNegative

Last Price7.40

Price Trends

50DMA8.05Negative

100DMA7.41Positive

200DMA7.22Positive

Market Momentum

MACD-0.11Positive

RSI36.80Neutral

STOCH0.63Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INDOY, the sentiment is Negative. The current price of 7.40 is below the 20-day moving average (MA) of 8.08, below the 50-day MA of 8.05, and above the 200-day MA of 7.22, indicating a neutral trend. The MACD of -0.11 indicates Positive momentum. The RSI at 36.80 is Neutral, neither overbought nor oversold. The STOCH value of 0.63 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INDOY.

Indorama Ventures Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

INDOY against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SSL	73Outperform	$11.15B	14.52	7.73%	―	17.90%	95.98%
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
DOW	60Neutral	$25.12B	-27.13	-4.50%	4.10%	4.16%	20.86%
CE	56Neutral	$5.41B	20.12	-28.81%	0.25%	-2.28%	27.94%
HUN	55Neutral	$1.69B	-10.42	-6.28%	3.52%	0.65%	45.36%
INDOY	51Neutral	$4.25B	-42.37	-2.07%	3.31%	-2.67%	-538.98%
BAK	41Neutral	$465.38M	-0.48	46.16%	―	-1.40%	2.39%

* Basic Materials Sector Average

Performance Comparison

INDOY and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
INDOY	Indorama Ventures	7.40	2.01	37.16%
CE	Celanese	47.94	10.69	28.69%
BAK	Braskem Sa	1.17	-1.24	-51.45%
HUN	Huntsman	9.95	2.29	29.98%
SSL	Sasol Ltd	15.81	9.61	155.00%
DOW	Dow Inc.	34.18	12.65	58.78%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 10, 2026

Indorama Ventures AI Stock Analysis