Ashland

US · ASH #2461 by market cap Listed 1970

70.67 -0.30 -0.42%

Live - 5344 symbols - heartbeat 259s ago · 2026-10-08 07:00

Pre-market 70.33 -0.48%

After-hours 70.67 0.00%

Market cap: 3.24B
P/E (TTM): 67.30
P/B: 1.73
EPS: -18.23
Div yield: 2.36%
52W pos: 78%

Reader sentiment Are you bullish or bearish on ASH?

Anonymous reader poll. Unscientific, not investment advice.

✦ Quant Financial Health how this is computed

Fair

Altman Z-Score is 2.08, in the 1.8-3.0 "grey zone".
Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.

Revenue annual, last 8 years

Latest year -13.68% YoY

Margins

Gross margin: 30.10%
Operating margin: 4.82%
Net margin: -46.33%

Key ratios & quality

Enterprise value: 4.43B
Altman Z-Score: 2.08

Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.

Income statement

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	2.59B	2.15B	2.02B	2.11B	2.39B	2.19B	2.11B	1.82B
Gross profit	863.00M	651.00M	599.00M	670.00M	830.00M	668.00M	618.00M	549.00M
Selling & admin expenses	599.00M	426.00M	400.00M	358.00M	393.00M	365.00M	404.00M	344.00M
Research & development	73.00M	58.00M	56.00M	50.00M	55.00M	51.00M	55.00M	54.00M
Operating profit	102.00M	82.00M	59.00M	172.00M	288.00M	159.00M	83.00M	88.00M
Pretax profit	11.00M	-9.00M	-577.00M	135.00M	206.00M	160.00M	-24.00M	-809.00M
Tax	-8.00M	30.00M	-22.00M	-38.00M	25.00M	-8.00M	-223.00M	13.00M
Net profit	114.00M	505.00M	-508.00M	220.00M	927.00M	178.00M	169.00M	-845.00M
Basic EPS	2	8	-8	4	17	3	3	-18
Diluted EPS	1.79	8.15	-8.39	3.59	16.41	3.31	3.36	-18.23

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Revenue	479.00M	463.00M	477.00M	386.00M	482.00M	497.00M
Gross profit	147.00M	132.00M	159.00M	105.00M	147.00M	170.00M
Selling & admin expenses	85.00M	106.00M	76.00M	86.00M	79.00M	99.00M
Research & development	14.00M	13.00M	13.00M	13.00M	14.00M	15.00M
Operating profit	33.00M	-2.00M	54.00M	-9.00M	39.00M	41.00M
Pretax profit	39.00M	-704.00M	65.00M	-15.00M	20.00M	56.00M
Tax	9.00M	15.00M	32.00M	-1.00M	5.00M	15.00M
Net profit	31.00M	-742.00M	32.00M	-12.00M	16.00M	16.00M
Basic EPS	1	-16	1	0	0	0
Diluted EPS	0.65	-16.21	0.70	-0.26	0.34	0.35

Balance sheet

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Total current assets	1.71B	1.43B	1.55B	1.72B	1.77B	1.51B	1.20B	1.21B
Cash & ST investments	294.00M	232.00M	454.00M	210.00M	646.00M	417.00M	300.00M	215.00M
Inventory	596.00M	597.00M	506.00M	473.00M	629.00M	626.00M	545.00M	568.00M
Total assets	8.26B	7.25B	6.88B	6.61B	6.21B	5.94B	5.65B	4.61B
Total current liabilities	1.08B	757.00M	813.00M	934.00M	553.00M	456.00M	490.00M	423.00M
Short-term debt	254.00M	166.00M	302.00M	397.00M	19.00M	38.00M	20.00M	21.00M
Long-term debt	2.28B	1.50B	1.57B	1.60B	1.27B	1.31B	1.35B	1.38B
Total liabilities	4,853,000,000.00	3,680,000,000.00	3,841,000,000.00	3,860,000,000.00	2,993,000,000.00	2,842,000,000.00	2,777,000,000.00	2,707,000,000.00
Total equity	3.41B	3.57B	3.04B	2.75B	3.22B	3.10B	2.87B	1.90B
Retained earnings	2.75B	3.22B	2.65B	2.80B	3.65B	3.60B	3.32B	2.30B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Total current assets	1.08B	1.12B	1.21B	1.15B	1.21B	1.29B
Cash & ST investments	168.00M	207.00M	215.00M	304.00M	343.00M	440.00M
Inventory	542.00M	567.00M	568.00M	565.00M	506.00M	490.00M
Total assets	5.23B	4.62B	4.61B	4.52B	4.50B	4.58B
Total current liabilities	463.00M	420.00M	423.00M	366.00M	395.00M	424.00M
Short-term debt	69.00M	19.00M	21.00M	19.00M	19.00M	18.00M
Long-term debt	1.34B	1.38B	1.38B	1.39B	1.37B	1.37B
Total liabilities	2,674,000,000.00	2,732,000,000.00	2,707,000,000.00	2,641,000,000.00	2,633,000,000.00	2,708,000,000.00
Total equity	2.56B	1.89B	1.90B	1.88B	1.87B	1.87B
Retained earnings	3.05B	2.29B	2.30B	2.27B	2.26B	2.26B

Cash flow

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Operating cash flow	297.00M	241.00M	203.00M	560.00M	-213.00M	243.00M	411.00M	94.00M
Depreciation & amortization	277.00M	277.00M	235.00M	244.00M	241.00M	243.00M	274.00M	237.00M
Free cash flow	140.00M	94.00M	70.00M	455.00M	-326.00M	73.00M	274.00M	-4.00M
Dividends paid	-60.00M	-64.00M	-66.00M	-70.00M	-70.00M	-76.00M	-78.00M	-76.00M
Stock buybacks / issuance	0	-200.00M	0	-450.00M	-200.00M	-300.00M	-380.00M	-100.00M
Ending cash balance	294.00M	232.00M	454.00M	210.00M	646.00M	417.00M	300.00M	215.00M

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Operating cash flow	1.00M	106.00M	27.00M	109.00M	41.00M	114.00M
Depreciation & amortization	60.00M	76.00M	50.00M	48.00M	45.00M	48.00M
Free cash flow	-20.00M	86.00M	-7.00M	95.00M	24.00M	94.00M
Dividends paid	-19.00M	-19.00M	-19.00M	-19.00M	-19.00M	-19.00M
Stock buybacks / issuance	--	0	0	--	--	0
Ending cash balance	168.00M	207.00M	215.00M	304.00M	343.00M	440.00M

Returns & efficiency

Line item	2018	2019	2020	2021	2022	2023	2024	2025
ROE %	3.35	14.48	-15.38	7.60	31.04	5.64	5.67	-35.41
ROA %	1.35	6.51	-7.19	3.26	14.46	2.93	2.92	-16.48
ROIC %	3.87	10.50	-8.23	5.45	20.68	4.61	4.57	-20.72
5-year avg ROE %	3.51	5.26	0.31	2.02	8.22	8.68	6.91	2.91
EBIT margin %	6.68	7.38	-17.84	9.66	11.21	9.77	1.37	-41.01
FCF / sales %	2.99	3.49	2.79	21.55	--	3.33	12.97	--
Current ratio	1.59	1.89	1.90	1.84	3.20	3.30	2.44	2.85
Quick ratio	0.76	0.94	1.10	0.62	1.90	1.66	1.11	1.08
Debt / assets	30.62	22.99	28.92	31.81	22.26	24.55	26.01	32.31
LT debt / equity	66.79	42.03	55.57	61.99	42.36	45.85	50.49	77.15
Interest coverage	1.84	1.61	-4.72	2.96	4.32	3.96	0.55	-12.26
Revenue CAGR (3Y) %	-8.86	-10.73	-4.42	-6.58	3.64	2.81	0.03	-8.63
Net income CAGR (3Y) %	-28.28	--	--	24.50	22.44	--	-8.42	--
FCF CAGR (3Y) %	7.40	-40.53	-31.21	48.12	--	1.41	-15.55	--

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
ROE %	-3.97	-35.46	-35.41	-30.96	-31.91	2.77
ROA %	-2.02	-16.61	-16.48	-14.19	-14.51	1.13
ROIC %	-1.72	-20.75	-20.72	-17.57	-18.20	2.57
5-year avg ROE %	--	--	--	--	--	--
EBIT margin %	-8.11	-42.22	-41.01	-30.69	-31.69	10.15
FCF / sales %	1.69	1.71	--	8.53	10.95	11.18
Current ratio	2.32	2.68	2.85	3.15	3.06	3.05
Quick ratio	0.85	0.97	1.08	1.35	1.49	1.64
Debt / assets	28.42	32.14	32.31	32.95	32.85	32.24
LT debt / equity	55.41	77.61	77.15	78.27	78.19	77.97
Interest coverage	-2.77	-13.15	-12.26	-9.08	-9.39	3.02
Revenue CAGR (3Y) %	--	--	--	--	--	--
Net income CAGR (3Y) %	--	--	--	--	--	--
FCF CAGR (3Y) %	--	--	--	--	--	--

✦ Quant Revenue Concentration how this is computed

Diversified

Life sciences is the largest reported line at 36.22% of revenue, across 5 reported segments.
No single line clears half of revenue; Personal Care is next at 31.19%, spreading the business across more than one real driver.

Revenue breakdown most recent period

Business

Life sciences36.22%

Personal Care31.19%

Specialty Additives27.36%

Intermediates7.44%

Quote time 2026-10-08 07:00:16 · For reference only, not investment advice and not tailored to your situation.