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Industrial Inorganic Chemicals: capital spending and supply chain

SIC 2810 · 7 companies with filed cash-flow statements

Capital spending, 12 months$6.1B
Operating cash flow$11.5B
Capex / cash flow53%
Capex / revenue10.2%
Top 3 share97%

Analysis

7 companies in Industrial Inorganic Chemicals (SIC 2810) spent $6.1B on capital projects over their latest twelve months, 53% of the $11.5B their operations generated; the three largest spenders — LIN, TROX, MTX — account for 97%.

Capital spending is 10.2% of the industry's $60.0B of annual revenue.

By the industry's asset mix most of it goes to equipment (44%); about $1.9B is imported.

The largest supplier of that spending is manufacturing structures ($3.2B).

Its largest supplying industries, by the input-output tables: imports ($3.5B), management of companies and enterprises ($2.2B), other basic inorganic chemical manufacturing ($2.1B).

Charts

Industrial Inorganic Chemicals: capital spending by company, latest twelve monthsIndustrial Inorganic Chemicals: capital spending by company, latest twelve monthsLIN$5.6BTROX$237MMTX$107MLXU$85.5MVHI$53.7MLXFR$11.1MNL$3.7M
Filed cash-flow statements (SEC XBRL).
Industrial Inorganic Chemicals: what the capital spending buys (US part)Industrial Inorganic Chemicals: what the capital spending buys (US part)Structures$3.2BEquipment$4.0BSoftware$1.2BOther$656M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Industrial Inorganic Chemicals: the industries that build and sell what it buysIndustrial Inorganic Chemicals: the industries that build and sell what it buysManufacturing structures$3.2BSoftware publishers$665MMaterial handling equipment manuf…$498MOther industrial machinery manufa…$485MAir conditioning, refrigeration, …$462MOther general purpose machinery m…$323MMeasuring, dispensing, and other …$291MAir and gas compressor manufactur…$272MPlate work and fabricated structu…$253MCustom computer programming servi…$243M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Industrial Inorganic Chemicals: its first-tier supplying industriesIndustrial Inorganic Chemicals: its first-tier supplying industriesImports$3.5BManagement of companies and enter…$2.2BOther basic inorganic chemical ma…$2.1BElectric power generation, transm…$1.9BPetroleum refineries$1.6BAll other chemical product and pr…$1.5BOther nondurable goods merchant w…$1.4BOther basic organic chemical manu…$1.3BPlastics material and resin manuf…$1.3BPetrochemical manufacturing$863M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Industrial Inorganic Chemicals: where the industry's cash came from (+) and went (−)Industrial Inorganic Chemicals: where the industry's cash came from (+) and went (−)Operating cash flow$14.9BCapital spending−$13.2BNet borrowing$5.4BDividends−$4.6BBuybacks−$4.0BCash drawn from the balance s…$1.7BPartners' money in$595MAcquisitions−$490MNet debt repaid−$244MSales of assets & businesses$189MOther investing (out)−$189MOther financing (out)−$169MCash added to the balance she…−$84.7MOther financing (in)$83.9M
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
LIN Linde$5.6B$10.7B53%TTM to Q3 2026
TROX Tronox Holdings$237M$220M108%TTM to Q3 2026
MTX Minerals Technologies$107M$235M45%TTM to Q3 2026
LXU LSB Industries$85.5M$150M57%TTM to Q3 2026
VHI Valhi$53.7M$172M31%TTM to Q3 2026
LXFR Luxfer Holdings$11.1M$30.0M37%TTM to Q3 2026
NL NLI Holdings$3.7M$13.3M28%TTM to Q3 2026

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.