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Ashland Inc. is a global additives and specialty ingredients company with a conscious and proactive mindset for sustainability. Our common stock is listed on the New York Stock Exchange ( NYSE ) under the ticker symbol ASH .
The business is unprofitable at the operating level (-42.49% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 13.7% YoY. Margins deteriorated 41.3pp alongside, both lines moving the wrong way.
Free cash flow declined 89% versus the prior year, cash generation momentum has weakened. ROIC dropped from -0.46% to -15.84%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$1.90B
▼ -13.7% YoY
Net Income (TTM)
-$664M
▼ -600.0% YoY
Op. Margin
-29.30%
▼ -41.3pp YoY
ROIC
-12.43%
▼ -15.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$122M
▼ -88.9% YoY
Op. Cash Flow (TTM)
$214M
▼ -71.0% YoY
Net Debt
$1.14B
Cash & Equiv.
$343M
5Y CAGR: -2.0%
5Y CAGR: -17.5%
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