S&P 500 · Specialty chemicals · World's top lithium
Albemarle
Albemarle is the world's top lithium producer and a diversified specialty-chemicals maker also in bromine and refining catalysts. FY2025 revenue was ~$5.14B, down 4% at the lithium-price trough (Energy Storage -10%, though +9% volume), while net loss narrowed from $1.18B to $510.6M. The core defense is cash preservation via halving capex from $1.7B to $589.8M — lithium is central, but bromine and catalysts buffer, and the diversified structure holds the trough, while into 2026 the Street began forecasting recovery on tightening lithium supply.
ALB Updated Jul 12, 2026 2 AI consumers· 1 recurring
Per the valuechain.wiki graph, Albemarle is directly linked to 3 companies (0 supply, 3 revenue relationships) and reaches 10 companies within two hops; the links are backed by 6 dated sources, 3 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · ~$5.14B (FY2025, -4%; net loss $510.6M; capex slashed from $1.7B to $589.8M)
- Customer concentration · About 1,900 customers in ~70 countries. Lithium runs on long-term supply agreements with cell, cathode and EV makers; as a chemical conglomerate, bromine and catalyst cycles coexist with lithium
- Segments · Energy Storage · Specialties · Ketjen
Revenue from
- Tesla High confidence· Amount 1.2 USD10억 · 다년 공급계약 · Tesla lithium supply agreement (reported)
Albemarle supplies battery lithium to Tesla, under a reported supply agreement worth about $1.2 billion.Mentions EN RBC / analyst consensus Published Jun 12, 2026: Albemarle (ALB) consensus Buy, avg ~$220s (RBC Outperform $257, Truist Buy $245)Confirms EN MineListings Published Apr 12, 2026: Tesla's $1.2 Billion Lithium Supply Deal with Albemarle - 셀·양극재·EV 고객 (리튬 화합물) High confidence
The Energy Storage segment supplies lithium hydroxide and carbonate to cell, cathode and EV makers worldwide under long-term agreements, across about 1,900 customers in ~70 countries. - Cosmo Advanced Materials & Technology High confidence
Supplies lithium to Cosmo AM&T for cathode; Cosmo's lithium purchases were 249.9 billion won (combined with SQM). - LG Energy Solution Medium confidence
Albemarle supplies battery lithium to LG Energy Solution.
Pays to
- 스포듀민 정광 (Talison/Greenbushes·Wodgina 합작) High confidence
Albemarle buys spodumene concentrate as lithium feedstock, sourcing from Australia's Greenbushes mine (owned via its 49% Windfield/Talison JV) and the Wodgina mine (50% MARBL JV), plus brine lithium from Chile's Salar de Atacama. - 가공·에너지·원료 (비공개) Medium confidence
Albemarle procures energy and reagents to convert concentrate into lithium hydroxide and carbonate, plus feedstocks for bromine and catalysts. Individual details are not disclosed.
Investments
- Windfield/Talison (그린부시 리튬광산)·MARBL(워지나) High confidence
Vertical integration that locks a lowest-cost-production moat with capital — a 49% stake in Windfield (holding of Talison, owner of Greenbushes) and the MARBL JV for the Wodgina mine internalize spodumene feedstock (Wodgina ownership was cut from 60% to 50% in 2025). Among the world's lowest-cost assets, this is why the lower lithium prices go, the sooner high-cost producers die and Albemarle endures.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Samsung Electro-Mechanics | lead2 | -11.8 | -18.5 | -1.4 | -2.5 | +110 | +467.7 |
| Samsung SDI | lead2 | -19 | +15.8 | -45.7 | -40.2 | +75.7 | +11.3 |
| Honda Motor | lead2 | +25.8 | -0.8 | +62.2 | -8 | +10 | -1.2 |
| General Motors | lead2 | +40.8 | -42.4 | +7.9 | +49.8 | +54.2 | -3.8 |
| Hyundai Motor Company | lead2 | -16.7 | -4.7 | +16.2 | +12.3 | +158.8 | -7.8 |
| Tesla | lead2 | +49.8 | -65 | +101.7 | +62.5 | +11.4 | -9.3 |
| LG Chem | lead2 | -29 | +9.7 | -36.6 | -45.3 | +31.2 | -14.4 |
| Toyota Motor Corporation | lead2 | +58.1 | -13.4 | +63 | +1.8 | +21.8 | -18.2 |
| LG Energy Solution | lead1 | · | · | -26.9 | -7.6 | +13.1 | -18.1 |
| Cosmo Advanced Materials & Technology | lead1 | +121.4 | +48.7 | +128.9 | -60.4 | -3.4 | -22.5 |
| Albemarle | node | +59.8 | -6.6 | -32.8 | -39.5 | +67.7 | -10.4 |
YTD as of 2026-07-10 · source: Yahoo Finance
Albemarle's thesis is enduring the lithium-cycle trough via a diversified-chemicals structure while waiting for a rebound on low-cost assets. FY2025 revenue was -4% ($5.14B) at the price trough but volume was +9%, and net loss narrowed from $1.18B to $510.6M — the core defense is cash preservation via halving capex from $1.7B to $589.8M, plus the Specialties (EBITDA +21%) and Ketjen buffer. The key asymmetry is world-lowest-cost assets like Greenbushes and Wodgina — the lower prices go, the sooner high-cost producers die and Albemarle survives, giving it the greatest recovery leverage on a rebound (RBC and others Buy, target $257 in 2026). Risks are a delayed lithium-price recovery and cash burn. Graph propagation: LG Energy Solution, Tesla and Cosmo AM&T are lithium demand, while spodumene concentrate (JV mines) is the upstream cost and integration.
Analysis generated from returns as of 2026-07-09Analyst ratings
Consensus: Buy 2 · Hold 3 · Sell 0 · Avg. target $203 · Price $126.05 (07-10) · Upside +61%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Rothschild & Co Redburn | Neutral | $170 | Jul 1, 2026 | Report ↗ |
| Mizuho · John Roberts | Neutral | $185 | Jul 1, 2026 | Report ↗ |
| Jefferies | Buy | $211 | Jun 30, 2026 | Report ↗ |
| Robert W. Baird · Ben Kallo | Neutral | $224 | Jun 18, 2026 | Report ↗ |
| Citigroup · Patrick Cunningham | Buy | $225 | Jun 18, 2026 | Report ↗ |
Trims target to $170 from $188 on a lithium-pricing lag, staying Neutral.