Trinseo PLC
TSEOQ, TSEOF · Plastic Materials, Synth Resins & Nonvulcan Elastomers · 36.6M shares · -3%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $132M (gross $152M, SBC $20M)
Reference price $2.43 · est. market cap ~$89M — last insider purchase, 2025-08-14 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
F34Going-concern chemical maker with negative margins, NYSE delisting and unresolved debt restructuring.
Strengths
- Differentiated PMMA/PC-ABS specialty positions with sticky auto-platform specs
- Net-income-growth percentile (88.9) and ROE (90.9) flattered by negative-equity artifacts, not real strength
Risks
- Explicit substantial-doubt going-concern; debt covenant breaches and possible in/out-of-court restructuring
- Negative net (-18%), operating (-8.5%) and OCF (-3.4%) margins with revenue down 15%
- Negative book equity makes the 90th-pct ROE a distress artifact, not a return
Notable findings
- Going concernRisks Related to Our Ability to Continue as a Going Concern We have identified conditions and events that raise substantial doubt about our ability to continue as a going concern
- BankruptcyRecent 8-K item 1.03 8-K ↗
- Debt accelerationRecent 8-K item 2.04 8-K ↗
- Negative equityNegative book equity (debt/equity -2.12)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -18.3%)
- Strong balance sheetStrong balance sheet — $147M cash & investments
- Buying back stockNet buyback — share count -3%/yr over 4y
- China exposure● Costs and business practices related to customs, international trade, export control, and antitrust laws
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
5.6%
Operating margin
-8.5%
Net margin
-18.3%
Return on equity
49.7%
Return on assets
-23.9%
ROIC
-16.3%
Revenue growth (QoQ)
9.4%
Debt / equity
-2.1×
Net debt / EBITDA
58.4×
Current ratio
1.2×
EBITDA
$37M
Tangible book value
-$1.7B
Cash & investments
$147M
Stock comp / revenue
0.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-12 | Desmond Jeanmarie F. | Other | 42K | — |
| 2026-05-12 | Johnson KLynne | Other | 42K | — |
| 2026-05-12 | LIN SANDRA BEACH | Other | 42K | — |
| 2026-05-12 | STEINMETZ HENRI | Other | 42K | — |
| 2026-05-12 | COTE JEFFREY J | Other | 42K | — |
| 2026-05-12 | Brifo Victoria | Other | 42K | — |
| 2026-05-12 | FARRELL MATTHEW | Other | 42K | — |
| 2026-05-12 | ALVARADO JOSEPH | Other | 42K | — |
| 2026-02-27 | Yang Arthas Bing | Tax withheld | 2.5K | $0.23 |
| 2026-02-27 | Greene Roger | Tax withheld | 2.5K | $0.23 |
| 2026-02-27 | van Kessel Bregje | Tax withheld | 6.1K | $0.23 |
| 2026-02-27 | Hendriks Han | Tax withheld | 7.7K | $0.23 |
| 2026-02-27 | Reverberi Francesca | Tax withheld | 1.4K | $0.23 |
| 2026-02-27 | Cooney Paula M. | Tax withheld | 7.7K | $0.23 |
| 2026-02-27 | Schewe Rainer | Tax withheld | 4.0K | $0.23 |
| 2026-02-27 | BOZICH FRANK A | Tax withheld | 24K | $0.23 |
| 2026-02-27 | Chaclas Angelo N. | Tax withheld | 7.6K | $0.23 |
| 2026-02-27 | Stasse David Phillip | Tax withheld | 10K | $0.23 |
| 2026-02-22 | Reverberi Francesca | Tax withheld | 333 | $0.33 |
| 2026-02-22 | Yang Arthas Bing | Tax withheld | 547 | $0.33 |
| 2026-02-22 | van Kessel Bregje | Tax withheld | 1.3K | $0.33 |
| 2026-02-22 | Hendriks Han | Tax withheld | 2.3K | $0.33 |
| 2026-02-22 | Cooney Paula M. | Tax withheld | 2.7K | $0.33 |
| 2026-02-22 | Schewe Rainer | Tax withheld | 1.2K | $0.33 |
| 2026-02-22 | BOZICH FRANK A | Tax withheld | 33K | $0.33 |
| 2026-02-22 | Chaclas Angelo N. | Tax withheld | 7.1K | $0.33 |
| 2026-02-22 | Stasse David Phillip | Tax withheld | 9.7K | $0.33 |
| 2026-02-21 | Yang Arthas Bing | Tax withheld | 1.9K | $0.33 |
| 2026-02-21 | Stasse David Phillip | Tax withheld | 5.0K | $0.33 |
| 2026-02-21 | Greene Roger | Tax withheld | 2.2K | $0.33 |
| 2026-02-21 | van Kessel Bregje | Tax withheld | 6.0K | $0.33 |
| 2026-02-21 | Hendriks Han | Tax withheld | 6.3K | $0.33 |
| 2026-02-21 | Reverberi Francesca | Tax withheld | 1.2K | $0.33 |
| 2026-02-21 | Cooney Paula M. | Tax withheld | 7.4K | $0.33 |
| 2026-02-21 | Schewe Rainer | Tax withheld | 3.9K | $0.33 |
| 2026-02-21 | Chaclas Angelo N. | Tax withheld | 3.7K | $0.33 |
| 2025-10-03 | Hendriks Han | Tax withheld | 2.1K | $2.33 |
| 2025-09-30 | Frisch Johanna | Tax withheld | 2.2K | $2.35 |
| 2025-09-25 | Greene Roger | Tax withheld | 1.6K | $2.57 |
| 2025-08-14 | FARRELL MATTHEW | Buy | 49K | $2.43 |
| 2025-08-13 | FARRELL MATTHEW | Buy | 26K | $2.45 |
| 2025-08-12 | FARRELL MATTHEW | Buy | 25K | $2.29 |
| 2025-06-25 | FARRELL MATTHEW | Grant | 42K | — |
| 2025-06-25 | ALVARADO JOSEPH | Grant | 42K | — |
| 2025-06-25 | LIN SANDRA BEACH | Grant | 42K | — |
| 2025-06-25 | Brifo Victoria | Grant | 42K | — |
| 2025-06-25 | COTE JEFFREY J | Grant | 42K | — |
| 2025-06-25 | Desmond Jeanmarie F. | Grant | 42K | — |
| 2025-06-25 | Johnson KLynne | Grant | 42K | — |
| 2025-06-25 | STEINMETZ HENRI | Grant | 42K | — |
| 2025-06-21 | TOMKINS MARK E | Tax withheld | 10K | $3.73 |
| 2025-06-21 | STEINMETZ HENRI | Tax withheld | 20K | $3.73 |
| 2025-06-21 | LIN SANDRA BEACH | Tax withheld | 10K | $3.73 |
| 2025-06-21 | COTE JEFFREY J | Tax withheld | 10K | $3.73 |
| 2025-06-21 | FARRELL MATTHEW | Tax withheld | 9.6K | $3.73 |
| 2025-06-21 | De Leener Pierre-Marie | Tax withheld | 20K | $3.73 |
| 2025-06-21 | COTE JEFFREY J | Tax withheld | 10K | $3.73 |
| 2025-06-21 | Brifo Victoria | Tax withheld | 9.6K | $3.73 |
| 2025-06-21 | Johnson KLynne | Tax withheld | 10K | $3.73 |
| 2025-06-21 | Desmond Jeanmarie F. | Tax withheld | 10K | $3.73 |
| 2025-06-21 | ALVARADO JOSEPH | Tax withheld | 10K | $3.73 |
| 2025-03-14 | Frisch Johanna | Buy | 1.5K | $4.10 |
| 2025-03-13 | Frisch Johanna | Buy | 1.1K | $4.02 |
| 2025-03-12 | Frisch Johanna | Buy | 1.2K | $4.28 |
| 2025-02-27 | Greene Roger | Grant | 23K | — |
| 2025-02-27 | BOZICH FRANK A | Grant | 283K | — |
| 2025-02-27 | Chaclas Angelo N. | Grant | 91K | — |
| 2025-02-27 | Cooney Paula M. | Grant | 66K | — |
| 2025-02-27 | Hendriks Han | Grant | 47K | — |
| 2025-02-27 | Reverberi Francesca | Grant | 78K | — |
| 2025-02-27 | Schewe Rainer | Grant | 48K | — |
| 2025-02-27 | Stasse David Phillip | Grant | 124K | — |
| 2025-02-27 | van Kessel Bregje | Grant | 52K | — |
| 2025-02-27 | Yang Arthas Bing | Grant | 32K | — |
| 2025-02-22 | Schewe Rainer | Tax withheld | 1.6K | $5.52 |
| 2025-02-22 | BOZICH FRANK A | Tax withheld | 19K | $5.52 |
| 2025-02-21 | Reverberi Francesca | Tax withheld | 1.2K | $5.52 |
| 2025-02-21 | Stasse David Phillip | Tax withheld | 6.6K | $5.52 |
| 2025-02-21 | Schewe Rainer | Tax withheld | 5.1K | $5.52 |
| 2025-02-21 | Hendriks Han | Tax withheld | 6.3K | $5.52 |
| 2025-02-21 | Greene Roger | Tax withheld | 2.2K | $5.52 |
| 2025-02-21 | Frisch Johanna | Tax withheld | 767 | $5.52 |
| 2025-02-21 | Cooney Paula M. | Tax withheld | 7.4K | $5.52 |
| 2025-02-21 | Chaclas Angelo N. | Tax withheld | 3.7K | $5.52 |
| 2025-02-21 | Yang Arthas Bing | Tax withheld | 2.8K | $5.52 |
| 2025-02-21 | van Kessel Bregje | Tax withheld | 903 | $5.52 |
| 2025-02-16 | van Kessel Bregje | Tax withheld | 70 | $5.14 |
| 2025-02-16 | Stasse David Phillip | Tax withheld | 1.8K | $5.14 |
| 2025-02-16 | Schewe Rainer | Tax withheld | 613 | $5.14 |
| 2025-02-16 | Reverberi Francesca | Tax withheld | 134 | $5.14 |
| 2025-02-16 | Frisch Johanna | Tax withheld | 197 | $5.14 |
| 2025-02-16 | Cooney Paula M. | Tax withheld | 1.1K | $5.14 |
| 2025-02-16 | Chaclas Angelo N. | Tax withheld | 936 | $5.14 |
| 2025-02-16 | BOZICH FRANK A | Tax withheld | 5.1K | $5.14 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-12 | Exhibits | filing ↗ |
| 2026-06-01 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-05-26 | BankruptcyDebt accelerationReg FDExhibits | filing ↗ |
| 2026-05-15 | Material agreementReg FD | filing ↗ |
| 2026-05-14 | Material agreementReg FDExhibits | filing ↗ |
| 2026-04-30 | ResultsExhibits | filing ↗ |
| 2026-04-30 | Material agreementReg FDExhibits | filing ↗ |
| 2026-04-15 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K/A | 2026-06-12 | 2026-05-28 | 0001104659-26-073451 ↗ |
| 8-K | 2026-06-01 | 2026-05-28 | 0001104659-26-068944 ↗ |
| 8-K | 2026-05-26 | 2026-05-25 | 0001104659-26-066376 ↗ |
| 8-K | 2026-05-15 | 2026-05-15 | 0001104659-26-062804 ↗ |
| 8-K | 2026-05-14 | 2026-05-13 | 0001104659-26-060590 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001104659-26-053165 ↗ |
| 10-Q | 2026-04-30 | 2026-03-31 | 0001104659-26-052646 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001104659-26-052333 ↗ |
| 10-K/A | 2026-04-27 | 2025-12-31 | 0001104659-26-049440 ↗ |
| 8-K | 2026-04-15 | 2026-04-14 | 0001104659-26-043485 ↗ |
| 8-K | 2026-04-13 | 2026-04-10 | 0001104659-26-042351 ↗ |
| 8-K | 2026-03-20 | 2026-03-19 | 0001104659-26-032793 ↗ |