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Earnings transcript
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ASH
Ashland Inc.
$73.91
-0.41
(-0.55%)
| Exchange: | NYSE |
| Market Cap: | 3.385B |
| Shares Outstanding: | 56.774M |
Delayed data
About The Company
| Sector: | Basic Materials | |||||
| Industry: | Chemicals – Specialty | |||||
| CEO: | Guillermo Novo | |||||
| Full Time Employees: | 2900 | |||||
| Address: |
| |||||
| Website: | https://www.ashland.com |
Ashland Inc. operates as a global supplier of specialized chemicals and additives. Its business activities are structured into four main divisions: Life Sciences; Personal Care & Household; Specialty Additives; and Intermediates and Solvents. The Life Sciences segment delivers pharmaceutical formulations, encompassing controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and binding agents for tablets. It also offers nutritional compounds like thickeners, stabilizers, emulsifiers, and various additives, alongside nutraceutical items designed for weight management, joint comfort, gastrointestinal health, sports nutrition, and general well-being. Additionally, this division provides custom formulation services, toll processing, and particle engineering expertise. The Personal Care & Household division manufactures a diverse array of naturally derived, biodegradable, and high-performance ingredients for personal care products. Its offerings extend to solutions for oral hygiene, such as toothpastes, mouthwashes, denture cleansers, and general dental care. For household applications, it supplies nature-sourced rheology modifiers, biodegradable wetting agents for surfaces, advanced encapsulants, and specialized polymers. The Specialty Additives segment’s portfolio includes rheology modifiers, agents for foam control, surfactants, wetting agents, pH neutralizers, and advanced ceramic materials, which find application in catalytic converters, environmental filters, components for ceramic capacitors, plasma display panels, and solar cells. Furthermore, it supplies ingredients for textile printing, thermoplastic metals, and alloys utilized in welding processes. The Intermediates and Solvents division is responsible for producing 1,4 butanediol and its associated derivatives, notably n-methylpyrrolidone. Ashland’s diverse product portfolio serves clientele across numerous consumer and industrial sectors, including architectural coatings, construction, energy, food and beverage, nutraceuticals, personal care, and pharmaceuticals. The company, previously known as Ashland Global Holdings Inc., was established in Wilmington, Delaware, in 1924.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2,191,000 | 2,113,000 | 1,824,000 |
| Gross Profit | 668,000 | 618,000 | 549,000 |
| EBITDA | 457,000 | 303,000 | -509,000 |
| Operating Income | 172,000 | -26,000 | -775,000 |
| Net Income | 178,000 | 169,000 | -845,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 5,939,000 | 5,645,000 | 4,611,000 |
| Total Liabilities | 2,842,000 | 2,777,000 | 2,707,000 |
| Total Stockholders Equity | 3,097,000 | 2,868,000 | 1,904,000 |
| Total Debt | 1,458,000 | 1,468,000 | 106,000 |
| Cash and Cash Equivalents | 417,000 | 300,000 | 215,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 243,000 | 462,000 | 134,000 |
| Capital Expenditure | -170,000 | -137,000 | -98,000 |
| Free Cash Flow | 73,000 | 325,000 | 36,000 |
| Net Income | 178,000 | 169,000 | -845,000 |
| Net Change in Cash | -229,000 | -117,000 | -85,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 1,956,871.172 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 2,072,040.151 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 2,011,094.170 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 194,914.108 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 206,385.512 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 200,314.989 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 194,982.504 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 258,316.225 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 227,629.070 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 344,756.448 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 365,046.618 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 354,309.314 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 4.930 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 5.620 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 4.240 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 8 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 2 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Financial Performance in Recent Quarter: Ashland Inc. reported third-quarter sales of $463 million in 2025, reflecting resilience in revenue generation. The earnings call summary indicates that the company is meeting or exceeding key financial targets, supported by effective cost management and operational efficiency.
- Positive Free Cash Flow and Operating Cash Flow: Based on cash flow statement data, Ashland demonstrates consistent net cash provided by operating activities and positive free cash flow, indicating strong liquidity to fund operations, reduce debt, or return value to shareholders.
- Innovation-Driven Growth: The earnings call highlights a focus on leveraging innovation to drive long-term value creation. This strategic emphasis on product development and process improvements positions Ashland favorably within its industry.
- Stable Dividend Yield: With a reported dividend yield (TTM) from key metrics, Ashland offers a reliable return to income-focused investors, enhancing its attractiveness in the current market environment.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates ASH intrinsic value between $93.52 – $95.64 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about ASH valuation
Is Ashland Inc. (ASH) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Ashland Inc. (ASH) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is ASH a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether ASH trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is ASH’s P/E ratio?
You can see ASH’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for ASH?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is ASH a good long-term investment?
Whether ASH fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
ASH
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Daily snapshot
-0.55
Trading Metrics:
| Open: | 73.62 | Previous Close: | 74.32 | |
| Day Low: | 73.5 | Day High: | 74.38 | |
| Year Low: | 46.3 | Year High: | 78.25 | |
| Price Avg 50: | 69.29 | Price Avg 200: | 60.41 | |
| Volume: | 136268 | Average Volume: | 942037 |
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Login — it's freeASH full analysis
Welcome to MARKETSNAP’s SWOT analysis for Ashland Inc., a key player in the specialty chemicals space. If you’re not familiar with Ashland, let me give you the quick rundown. This company operates in the materials sector, focusing on innovative chemical solutions across industries like personal care, pharmaceuticals, and industrial applications. With a solid market cap and a global presence, they’re not a household name like some tech giants, but they’re a critical supplier behind the scenes, employing thousands worldwide and…
