Is HUN a Buy? What to Consider in 2026
Last updated July 2026
Short answer
The bull case for Huntsman Corporation (HUN) rests on Pending Olin merger: In June 2026 Huntsman agreed to an all-stock merger of equals with Olin, with Huntsman holders set to receive about 0.5476 Olin shares per Huntsman share and to own roughly 45.5 percent of the combined 'OlinHuntsman.' The deal is pitched as creating a vertically integrated North American chemicals leader with more than $12 billion of revenue and over $400 million of targeted cost synergies. Revenue (FY2025) is ~$5.7B. If you believe that thesis holds, the real questions become position sizing and overlap, not timing. The main risk to that view: Huntsman is deeply cyclical and was loss-making in 2025 and early 2026, with net debt leverage around 6.1x and credit ratings cut to below investment grade, so a prolonged downturn strains the balance sheet. Whether HUN is a buy comes down to whether you believe the thesis. This is informational, not a recommendation, and Walnut is not an investment adviser.
Huntsman Corporation is a global manufacturer of differentiated and specialty chemicals organized into three segments: Polyurethanes (MDI, polyols and TPU used in insulation, automotive seating, adhesives, coatings and footwear), Performance Products (amines, surfactants and maleic anhydride for agriculture, energy, personal care and construction), and Advanced Materials (epoxy, phenoxy, acrylic and polyurethane formulations for aerospace, electronics and industrial uses). It is roughly the fourth-largest MDI producer worldwide, behind Wanhua Chemical, BASF and Covestro. The investment picture is defined by a deep chemicals downcycle and a pending combination. Full-year 2025 revenue fell to about $5.7 billion with a net loss of roughly $275 million, and Q1 2026 stayed in the red as MDI margins, weak construction and automotive demand, and Chinese low-cost capacity pressured results. Net debt leverage climbed to about 6.1x, the dividend was cut, and credit ratings were lowered to below investment grade. In June 2026 Huntsman agreed to merge with Olin in an all-stock deal, so the shares now trade heavily on the exchange ratio, deal completion odds and expected synergies rather than standalone fundamentals alone.
What's the case for buying HUN?
1. Pending Olin merger
In June 2026 Huntsman agreed to an all-stock merger of equals with Olin, with Huntsman holders set to receive about 0.5476 Olin shares per Huntsman share and to own roughly 45.5 percent of the combined 'OlinHuntsman.' The deal is pitched as creating a vertically integrated North American chemicals leader with more than $12 billion of revenue and over $400 million of targeted cost synergies. Until it closes, HUN largely tracks Olin's share price and the market's confidence in the deal.
2. Polyurethanes and MDI cycle
Polyurethanes is the largest segment and its earnings swing with MDI margins, which have been depressed by soft construction and automotive demand and by aggressive Chinese capacity additions. Q1 2026 showed about 4 percent year-over-year volume growth in Polyurethanes, including some European improvement, so a cyclical recovery in MDI pricing would be a meaningful lever if demand firms.
3. Advanced Materials and aerospace
Advanced Materials has been a relative bright spot, with revenues growing over 10 percent year over year in Q1 2026 as sales into aerospace increased. Higher-value formulation and specialty applications carry better margins than commodity polyurethanes and offer some ballast against the MDI cycle.
4. Cost cuts and self-help
Management has leaned on restructuring, plant closings and cost reduction to protect cash flow while end markets stay weak. These programs, plus the synergy case behind the Olin merger, are the main drivers of any earnings improvement independent of a broad chemicals recovery, though restructuring charges have also weighed on reported results.
What are the risks to HUN?
Huntsman is deeply cyclical and was loss-making in 2025 and early 2026, with net debt leverage around 6.1x and credit ratings cut to below investment grade, so a prolonged downturn strains the balance sheet. The dividend was reduced sharply and is not guaranteed. The Olin merger introduces deal risk: it requires shareholder and regulatory approvals and could be delayed or blocked, and because it is all-stock the value received depends on Olin's share price. Low-cost Chinese MDI capacity, weak construction and automotive demand, and volatile feedstock costs such as benzene and European natural gas can all pressure margins further.
How is HUN valued? (as of JULY 2026)
Snapshot for HUN as of July 2026, sourced from Yahoo Finance and may be delayed. Valuation figures move with price and earnings; verify the current numbers with your broker before deciding.
- Revenue (FY2025): ~$5.7B
- Revenue (Q1 2026): ~$1.42B
- Net loss (FY2025): ~$275M
- Diluted EPS (FY2025): ~-$1.59
- Market cap: ~$1.8-2.4B
- Net debt leverage: ~6.1x
Huntsman is currently unprofitable on a trailing basis, so a positive P/E is not meaningful and investors lean on revenue, EBITDA and leverage. As of mid-2026 the stock traded around $10 to $11 with a 52-week range of roughly $7.30 to $16, and the dividend yield screened high partly because the price had fallen. With a merger agreed, valuation is best read against the Olin exchange ratio rather than standalone multiples.
How do you decide if HUN is a buy?
Rather than asking whether HUN is a buy in the abstract, it tends to help to answer four questions:
- Thesis: do you believe the case above, and is it still true today?
- Time horizon: a single stock can be volatile, so a longer horizon absorbs more of the swings.
- Position sizing: a thesis can be right and the sizing still wrong; decide how much of your portfolio one name should be.
- Overlap: check whether you already hold HUN indirectly through an index or sector ETF before adding more.
For the full picture, see the HUN stock guide (what the company does, the ETFs that hold it, similar stocks, and the themes it fits). In Walnut you can ask its AI about HUN against your real portfolio and see your actual exposure before deciding.
The bottom line on HUN
The bottom line: Huntsman Corporation's story right now is Pending Olin merger, with revenue (fy2025) at ~$5.7B. If you believe that narrative continues, the call is about sizing HUN sensibly and checking overlap with what you own; if you doubt it (the risk: huntsman is deeply cyclical and was loss-making in 2025 and early 2026, with net debt leverage around 6.1x and credit ratings cut to below investment grade, so a prolonged downturn strains the balance sheet.), it is not for you. Decide from the thesis, not the ticker. Walnut is not an investment adviser.
Build a basket around HUN with Walnut
Use Huntsman Corporation as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is HUN a good stock to buy right now?
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The case for Huntsman Corporation right now is Pending Olin merger, with revenue (fy2025) at ~$5.7B. If you believe that thesis holds, HUN is a way to own it and the real questions are sizing and overlap, not timing; the main risk to that view is huntsman is deeply cyclical and was loss-making in 2025 and early 2026, with net debt leverage around 6.1x and credit ratings cut to below investment grade, so a prolonged downturn strains the balance sheet. So it comes down to whether you believe the thesis. Walnut is not an investment adviser and this is not a recommendation.
What does Huntsman Corporation do?
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Huntsman Corporation is a global manufacturer of differentiated and specialty chemicals organized into three segments: Polyurethanes (MDI, polyols and TPU used in insulation, autom
What are the main risks of HUN?
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Huntsman is deeply cyclical and was loss-making in 2025 and early 2026, with net debt leverage around 6.1x and credit ratings cut to below investment grade, so a prolonged downturn strains the balance sheet. The dividend was reduced sharply and is not guaranteed. The Olin merger introduces deal risk: it requires shareholder and regulatory approvals and could be delayed or blocked, and because it is all-stock the value received depends on Olin's share price. Low-cost Chinese MDI capacity, weak construction and automotive demand, and volatile feedstock costs such as benzene and European natural gas can all pressure margins further.
What does Huntsman Corporation do?
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Huntsman manufactures differentiated and specialty chemicals across three segments: Polyurethanes (MDI, polyols, TPU), Performance Products (amines, surfactants, maleic anhydride) and Advanced Materials (epoxy and other formulations). Its products go into insulation, automotive, adhesives, coatings, aerospace, agriculture and construction.
Is Huntsman being acquired?
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In June 2026 Huntsman agreed to an all-stock merger of equals with Olin Corporation. Huntsman holders would receive about 0.5476 Olin shares per share and own roughly 45.5 percent of the combined company, to be called OlinHuntsman. The deal remains subject to shareholder and regulatory approvals.
Why is Huntsman losing money?
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A deep chemicals downcycle has hit Huntsman, with weak construction, automotive, aerospace and electronics demand, lower MDI margins, and low-cost Chinese capacity pressuring prices. FY2025 revenue fell to about $5.7 billion and it posted a net loss of roughly $275 million, with losses continuing into early 2026.
What is MDI and why does it matter to Huntsman?
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MDI (methylene diphenyl diisocyanate) is a key polyurethane building block used in rigid insulation, coatings, adhesives and automotive parts. It is the core of Huntsman's largest segment, so MDI supply, demand and margins are the single biggest swing factor in the company's earnings.
Walnut is informational and is not an investment adviser. This page is educational and not a recommendation to buy or sell HUN; figures are approximate and dated, and your own situation, time horizon, and risk tolerance should drive any decision. Verify current data before investing.