Hello folks,

Quite a tight and exciting affair.

$ESI (+2.24%) vs. $ECVT (-0.82%)

🏆 GAME 3 - Element Solutions vs. Ecovyst

📊 1st category duel (2027-2028)

1️⃣ Sales growth - Advantage: Element Solutions

• ESI: 7,34 % → 4,32 %
• Ecovyst: 6,7 % → 7,19 % Analysis: ESI is stronger in 2027, Ecovyst in 2028. Slight plus for ESI due to higher starting level.

Point: ESI (1:0)

2️⃣ Profit growth - Advantage: Element Solutions

• ESI: 18,41 % → 9,15 %
• Ecovyst: 19 % → 12,86 % Analysis: Both strong, but ESI delivers more consistently and with less volatility.

Point: ESI (2:0)

3️⃣ EBIT margin - clear advantage: Element Solutions

• ESI: 20,82 % → 21,45 %
• Ecovyst: 13,68 % → 14,4 % Analysis: ESI is in a different league. Almost +7 percentage points more margin.

Point: ESI (3:0)

4️⃣ ROE - Advantage: Element Solutions (close)

• ESI: 15,82 % → 17,34 %
• Ecovyst: 13,77 % → 17,72 % Analysis: Ecovyst is minimally ahead in 2028, but ESI is more stable and significantly stronger in 2027.

Point: ESI (4:0)

5️⃣ FCF yield - clear advantage: Ecovyst

• ESI: 3,77 % → 3,90 %
• Ecovyst: 4,77 % → 5,14 % Analysis: Ecovyst delivers the better cash flow return for investors.

Point: Ecovyst (4:1)

6️⃣ Leverage ratio - Advantage: Ecovyst

• ESI: 1.76x → 1.70x
• Ecovyst: 0.87x → 1.03x Analysis: Ecovyst is significantly lighter on the balance sheet side.

Point: Ecovyst (4:2)

7️⃣ P/E ratio - Advantage: Ecovyst

• ESI: 20,16 → 18,02
• Ecovyst: 18,20 → 15,03 Analysis: Ecovyst is valued more favorably.

Point: Ecovyst (4:3)

8️⃣ PEG - clear advantage: Ecovyst

• ESI: 1,36 → 1,58
• Ecovyst: 1,09 → 0,90 Analysis: Ecovyst offers more growth per valuation euro.

Point: Ecovyst (4:4)

🧮 Intermediate score after 8 categories: 4 : 4

Both deliver an extremely even match. Now the weighting of the categories:

• Profitability (EBIT margin, ROE) → very important
• Valuation (P/E ratio, PEG) → important
• Growth → medium
• Balance sheet & FCF → medium

Profitability outweighs valuation → Advantage ESI.

🏆 Final score: 6 : 4 for ELEMENT SOLUTIONS

🧠 JUAN-FAZIT (short, clear, investor-focused)

"Element Solutions plays like a premium player: high margins, strong ROE, clean growth structure. Ecovyst is the value underdog with better PEG and strong cash flow, but profitability is not enough to beat ESI. Bottom line, quality wins against valuation - ESI takes game 3."

A close, high-quality match - but ESI wins due to higher profitability and better returns on capital.

I use your usual scoring system:

• 🟢 green = better
• 🔴 red = weaker
• ⚪ neutral / very close

🏆 Heatmap conclusion

• Element Solutions clearly dominates in Quality & Profitability (4× green).
• Ecovyst wins the value side (4× green).
• The match tips in favor of ESIbecause profitability > valuation.

On the third day of the championship, two specialty chemicals will compete against each other.

🏟️🔥 ANNOUNCEMENT - TOMORROW AT THE INVESTOR STADIUM

ELEMENT SOLUTIONS $ESI (+2.24%) vs. ECOVYST $ECVT (-0.82%)

The great duel of the chemical giants

The Investors' Stadium will shake again tomorrow. Two teams, two completely different styles of play - one goal: Points for the championship.

Element Solutions takes to the field with the precision of a high-tech specialist: strong in niches, focused, strategic, ready to exploit every opportunity.

Ecovyst on the other hand, brings raw industrial power: stable margins, robust cash flows, a team that wins through efficiency and perseverance.

When these two meet, the result is a match that is not decided by chance, but by quality, margin, valuation and momentum.

Tomorrow will decide who climbs up the table and who comes under pressure in the championship race.

🎙️ "Be ready - this will be a game for the history books."