LyondellBasell Industries NV (LYB) is slightly undervalued and PPG Industries Inc (PPG) is slightly overvalued.
Against our estimates of intrinsic value, LYB trades at the wider discount: a margin of safety of +14%, against -16% for PPG.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 6.6% (average of 2 methods) values the shares at $69.16; the price of $59.24 is 14% below that value, and 84% of that value comes from beyond year five.
Leak Score 30/100 on 2 of 12 signals
Discounting its cash flows at 9.0% (average of 3 methods) values the shares at $92.86; the price of $107.77 is 16% above that value, and 76% of that value comes from beyond year five.
Leak Score 53/100 on 9 of 12 signals
| Metric | LYB | PPG |
|---|---|---|
| Verdict | Slightly undervalued | Slightly overvalued |
| Price | $59.24 | $107.77 |
| Intrinsic value | $69.16 | $92.86 |
| Margin of safety | +14% | -16% |
| Leak Score | 30/100 (2/12) | 53/100 (9/12) |
| Market cap | $19.1B | $24.0B |
| Revenue growth, 5 years | 1.7% | 2.8% |
| Operating margin | 7.8% | 13.2% |
| Net margin | -1.1% | 9.5% |
| Return on equity | -2.3% | 19.6% |
| Debt to equity | 1.33 | 0.88 |
| P/E | — | 15.5x |
| Forward P/E | 9.5x | 12.5x |
| P/B | 1.8x | 2.8x |
| Dividend yield | 5.3% | 2.7% |