Orion S.A. (OEC) — RQD Stock Rating Cockpit

The per-the Roarable RQD rating, OEC scores 39 out of 100 for a letter grade of D- under the verdict "Roarable Sell — Vulnerable Balance Sheet & Flow." Across the five pillars:

• Fundamental Cash Engine: 13 / 20. The rating cites ROIC of 2.2% and FCF yield of 0%. Returns on invested capital sit well below what the source data would need to show to support a strong cash-generation case, and the zero FCF yield indicates little cash return relative to market value.
• Whale 13F Flow: 6 / 20. Institutional accumulation and options positioning score weakly. The source data does not contain holdings detail, so the drivers of this score cannot be traced further here.
• Insider Conviction: 5 / 20. SEC Form 4 and Congressional PTR cluster flow score weakly. The source data does not itemize specific insider transactions.
• Macro Regime Fit: 4 / 20. The rating reflects a beta of 1.0 and sector sensitivity. A beta of 1.0 means the stock is expected to move broadly in line with the market; the low score indicates the rating does not view the current macro backdrop as a favorable fit.
• Forensic Balance Sheet: 11 / 20. Per the rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 1.75. These figures point to a leveraged balance sheet with only moderate financial-health signals.

Investor implications: Upside drivers in this data are limited to a 1.5% dividend yield, a 1.28% price change in the latest session, and the 52-week range position between $4.34 and $8.64. The valuation tradeoff is significant: EV/EBITDA is 33.7 while operating margin is 1.5% and net margin is -3.9%, meaning the enterprise value is high relative to the thin operating profitability shown. A prospective investor would need to weigh whether the current price reflects expected margin recovery, which the source data does not establish. The rating's verdict signals that vulnerability in the balance sheet and flow outweighs the near-term positives.

Orion S.A. is a NYSE-listed issuer in the Materials sector, operating within Major Chemicals, per the SEC profile. Its recent news flow references products such as a black pigment for plastics with EU food-contact approval and the PRINTEX Chroma 450 BEADS product line for engineered plastics, suggesting sales into plastics and polymer-related end markets. The source data does not detail customer concentration, revenue mix by product, or the specific monetization model.

Revenue declined from $1893.9M (FY 2023) to $1806.7M (FY 2025), while operating income fell from $205.3M to $27.5M over the same span. Net income moved from $104.0M in FY 2023 to $-70.0M in FY 2025. Per the market data, gross margin is 19.9%, operating margin is 1.5%, net margin is -3.9%, and ROIC is 2.2%. Per the Roarable RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 1.75; debt rose from $647.0M to $674.5M between FY 2024 and FY 2025 while cash rose from $44.2M to $60.7M.

Per the recent news feed, catalysts include an announcement of third-quarter 2026 earnings release date and conference call information, notice of participation in upcoming investor conferences, a TradingView report citing a Q3'26 revenue estimate of 445.99M USD, a product headline about a black pigment receiving EU food-contact approval, a real-time signals article on OEC movement, and the PRINTEX Chroma 450 BEADS launch. All six items are flagged YELLOW with a MARKET WIRE impact label. The Butterfly Supply-Chain Graph reports no supply-chain links and no proprietary signals, so no graph-derived catalysts are identified. Key watch items are the upcoming Q3 2026 earnings release and whether the stated revenue estimate is met.

Per the Butterfly Supply-Chain Graph, the supply-chain designation is NONE, with no butterfly links recorded. Upstream suppliers, downstream customers, and sector correlation peers are not identified in the source data, so 2nd-order ripple effects cannot be mapped from the provided material. An investor would need to examine raw material inputs and end-market customers independently, as the source data does not establish these dependencies.

• What are the EPS (TTM) and forward P/E figures, which are missing from the source data and needed to assess valuation relative to earnings?
• What drove the decline in FY 2025 operating income and net income, and is the margin trajectory expected to reverse?
• What is the FY 2025 EPS, which is reported as N/A, and what share count underlies the $313.1M market cap?
• What is the composition of the $674.5M debt, including maturities and interest costs, and how does it bear on the 1.75 Debt/Equity ratio?
• Which institutional holders and insiders are active in OEC, given that holders data is absent?