Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Orion S.A.OEC · chemicals | |
|---|---|
| Grade |  Dfourth fifth of 331 graded peers; percentile 76.1, sampling error 2.7 points; lower is stronger |
| Rank | 239 of 331 |
| Profitability | Bpercentile 33.1 |
| Solvency | Epercentile 90.5 |
| Growth and financing | Cpercentile 57.1 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.9B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress, fortress balance sheet |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Feb 17, 2026234 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $5.812026-10-08; market equity $328.4M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 17, 2026; the document on sec.gov.
Environmental, social and governance matters, including regulations requiring a reduction of or that impose additional taxes or fees on greenhouse gas emissions, could adversely affect our business, financial condition, results of operations and cash flows, and an increased awareness as well as adverse publicity about potential impacts on climate change by us or other companies in our industry could harm our reputation. U.S., EU and international regulators, investors and other stakeholders are increasingly focused on environmental, social and governance (ESG) matters.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 33.1 | |||||||
| Gross profitability | 18.9% | [1,3] | 21.3% | 53.4 | 359 | 2025-12-31 | |
| Return on invested capital | not computable | 9.5% | |||||
| one or more required annual facts are missing | |||||||
| Accruals ratio | (15.2%) | [1,4-6] | (4.2%) | 13.0 | 400 | 2025-12-31 | |
| Gross margin stability, five years | 1.7 pts | [2-3,7-14] | 2.2 pts | 33.0 | 301 | 2025-12-31 | |
| Solvency, sleeve percentile 90.5 | |||||||
| Twelve-month failure probability | not computable | 0.05% | |||||
| liabilities and a nearby cover-page share count are required at 2026-06-30 | |||||||
| Altman Z double-prime | not computable | 3.41 | |||||
| one or more required annual facts are missing | |||||||
| Net debt to EBITDA | not computable | 1.88x | |||||
| one or more required annual facts are missing | |||||||
| Interest coverage | not computable | 4.16x | |||||
| latest aligned inputs end 2023-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 1.03x | [15-16] | 2.20x | 90.5 | 423 | 2025-12-31 | |
| Growth and financing, sleeve percentile 57.1 | |||||||
| Revenue growth, three-year compound | (3.8%) | [2,8,10,12] | 1.2% | 71.9 | 350 | 2025-12-31 | |
| Free cash flow growth, three-year compound | not computable | 12.6% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 24.3% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | 0.3% | [1,6,17-18] | 2.9% | 63.6 | 369 | 2025-12-31 | |
| Net share issuance, one year | (0.7%) | [19-20] | 0.0% | 35.9 | 321 | 2026-02-12 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.238; sampling error 2.7 percentile points on 331 peers.
Among 331 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 234 | Axon Enterprise, Inc. (AXON) Axon Enterprise, Inc. (AXON) Dfourth fifth; percentile 74.4 Nasdaq · Ordnance & Accessories, (No Vehicles/Guided Missiles) market equity $33.9B; last close $417.37 No active warnings; 10 of 14 inputs | 74.4 | D | |
| 235 | RTX Corp. (RTX) RTX Corp. (RTX) Dfourth fifth; percentile 74.8 NYSE · Aircraft Engines & Engine Parts market equity $248.4B; last close $184.30 No active warnings; 11 of 14 inputs | 74.8 | D | |
| 236 | Entegris Inc. (ENTG) Entegris Inc. (ENTG) Dfourth fifth; percentile 75.2 Nasdaq · Plastics Products, NEC market equity $24.8B; last close $162.22 No active warnings; 10 of 14 inputs | 75.2 | D | |
| 237 | Crown Holdings, Inc. (CCK) Crown Holdings, Inc. (CCK) Dfourth fifth; percentile 75.6 NYSE · Metal Cans market equity $11.8B; last close $108.90 No active warnings; 8 of 14 inputs | 75.6 | D | |
| 238 | Johnson Controls International plc (JCI) Johnson Controls International plc (JCI) Dfourth fifth; percentile 76.0 NYSE · Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip market equity $94.0B; last close $153.97 No active warnings; 8 of 14 inputs | 76.0 | D | |
| 239 | Orion S.A. (OEC) Orion S.A. (OEC) Dfourth fifth; percentile 76.1 NYSE · Miscellaneous Chemical Products market equity $329.0M; last close $5.81 No active warnings; 7 of 14 inputs | 76.1 | D | |
| 240 | Eastman Kodak Co. (KODK) Eastman Kodak Co. (KODK) Dfourth fifth; percentile 76.4 NYSE · Photographic Equipment & Supplies market equity $938.9M; last close $9.58 Warnings: fortress balance sheet; 11 of 14 inputs | 76.4 | D | fortress balance sheet |
| 241 | Brunswick Corp. (BC) Brunswick Corp. (BC) Dfourth fifth; percentile 77.0 NYSE · Engines & Turbines last close $62.39 No active warnings; 9 of 14 inputs | 77.0 | D | |
| 242 | Brunswick Corp. (BC-PC) Brunswick Corp. (BC-PC) Dfourth fifth; percentile 77.0 NYSE · Engines & Turbines No active warnings; 9 of 14 inputs | 77.0 | D | |
| 243 | Avery Dennison Corp. (AVY) Avery Dennison Corp. (AVY) D/Eon the D/E boundary; percentile 77.6 NYSE · Converted Paper & Paperboard Prods (No Contaners/Boxes) market equity $12.7B; last close $167.68 No active warnings; 8 of 14 inputs | 77.6 | D/E | |
| 244 | Scotts Miracle-Gro Co. (SMG) Scotts Miracle-Gro Co. (SMG) D/Eon the D/E boundary; percentile 77.6 NYSE · Agricultural Chemicals market equity $2.9B; last close $50.46 No active warnings; 12 of 14 inputs | 77.6 | D/E |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | D | 74.7 | 2204 |
| sector peers, equal sleeves (the grade) | D | 76.1 | 331 |
| same exchange, equal sleeves | D | 75.2 | 984 |
| sector peers, equal inputs | C | 54.8 | 331 |
Each letter is one fifth of the 331 graded peers, about 66 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (16.5%) | 13.8% | 19 | hotter than 19 of 100 peers |
| Distance from 52-week high | (30.0%) | (24.2%) | 39 | closer to its high than 39 of 100 peers |
| EBIT to enterprise value | not computable | 3.9% | required accounting or market input is missing | |
| Free cash flow yield | 16.7% | 3.2% | 96 | pricier than 4 of 100 peers |
| Book value to price | 1.16 | 0.39 | 90 | pricier than 10 of 100 peers |
| Sales to price | 5.49 | 0.57 | 97 | pricier than 3 of 100 peers |
| Composite equity issuance, five years | (10.0%) | (9.9%) | 48 | more equity-funded than 48 of 100 peers |
| Relative strength against the sector, log excess return | (0.35) | (0.02) | 17 | ahead of 17 of 100 peers |
Inputs: market equity $329.0M; EBIT $27.5M; free cash flow $54.8M; book equity $380.3M; sales $1.8B; cash $50.8M[21].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 3 of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (3.8%) | ✗ fail[4,6] |
| Operating cash flow above zero | $215.8M | ✓ pass[5] |
| Return on assets improved | (6.2 pts) | ✗ fail[4,6,17,22] |
| Operating cash flow exceeds net income | $285.9M | ✓ pass[4-5] |
| Long-term leverage fell | 0.8 pts | ✗ fail[1,6,17,23-24] |
| Current ratio improved | (15.9 pts) | ✗ fail[15-16,25-26] |
| No new shares issued | (0.7%) | ✓ pass[19-20] |
| Gross margin improved | (2.9 pts) | ✗ fail[2-3,7-8] |
| Asset turnover improved | (5.1 pts) | ✗ fail[2,6,8,17] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $50.8M[27] |
| Operating cash flow, four quarters | $176.6M[5,27-31] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 65 |
| 10-Q received Aug 5, 2026 | |
| Median daily dollar volume | $2.5M |
| 63 sessions | |
| Days since newest grade input | 234 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.9B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.8B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $359.8M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | -$70.1M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $215.8M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $1.9B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $428.8M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.9B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $451.0M | 2023-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.9B | 2023-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $448.8M | 2022-12-31 | 2025-02-20 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $2.0B | 2022-12-31 | 2025-02-20 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $386.6M | 2021-12-31 | 2024-02-15 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.5B | 2021-12-31 | 2024-02-15 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $643.8M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $626.4M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 17 | assets | us-gaap:Assets | $1.8B | 2023-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 18 | assets | us-gaap:Assets | $1.9B | 2022-12-31 | 2025-02-20 | 10-K | filing · viewer · series |
| 19 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 56,273,701 | 2026-02-12 | 2026-02-17 | 10-K | filing · viewer · series |
| 20 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 56,654,098 | 2025-02-14 | 2025-02-20 | 10-K | filing · viewer · series |
| 21 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 56,522,699 | 2026-07-31 | 2026-08-05 | 10-Q | filing · viewer · series |
| 22 | net income | us-gaap:NetIncomeLoss | $44.2M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 23 | long term debt | us-gaap:LongTermDebtNoncurrent | $674.5M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 24 | long term debt | us-gaap:LongTermDebtNoncurrent | $647.0M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 25 | current assets | us-gaap:AssetsCurrent | $613.3M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 26 | current liabilities | us-gaap:LiabilitiesCurrent | $516.7M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 27 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $50.8M | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 28 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $14.9M | 2026-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
| 29 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$12.4M | 2026-03-31 | 2026-05-06 | 10-Q | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $122.9M | 2025-09-30 | 2025-11-04 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $54.1M | 2025-06-30 | 2026-08-05 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 76.1 is 3.9 points from the nearest band edge; sampling error is 2.7 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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