Ingevity Corp NGVT
Ingevity Corporation provides products and technologies that purify, protect, and enhance the world around us. Through a diverse team of talented and experienced people, we develop, manufacture, and bring to market solutions that are largely renewably sourced and help customers solve complex problems while making the world more sustainable. Our products are used in a variety of demanding applications, including automotive gasoline vapor emissions control systems, food, water and chemical filtration, asphalt paving, agrochemical dispersants, bioplastics, coatings, elastomers, and paint for road markings. We operate in three reportable segments: Performance Materials, Performance Chemicals and Advanced Polymer Technologies.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.17B | $1.20B | $1.22B | $1.67B | $1.39B | $1.22B | $1.29B | $1.13B | $972.4M | $908.3M |
| Cost of revenue | $706.1M | $735.3M | $770.5M | $1.10B | $878.7M | $750.6M | $810.9M | $716.8M | $643.4M | $633.9M |
| Gross profit | $461.5M | $464.8M | $445.0M | $570.1M | $512.8M | $465.5M | $482.0M | $416.8M | $329.0M | $274.4M |
| R&D | $28.4M | $24.5M | $25.4M | $30.3M | $26.3M | $22.6M | $19.7M | $21.5M | $19.8M | $17.6M |
| SG&A | $171.2M | $157.8M | $161.8M | $198.8M | $179.3M | $149.4M | $163.1M | $132.4M | $106.4M | $96.4M |
| Operating income | $418.7M | $425.9M | $423.2M | $452.6M | $422.2M | $397.9M | $396.9M | $320.5M | $242.7M | $163.6M |
| Interest expense | $78.3M | $97.8M | $93.3M | $61.8M | $51.7M | $47.1M | $54.6M | $33.2M | $18.1M | $19.3M |
| Pre-tax income | -$142.1M | -$140.5M | $130.0M | $269.6M | $162.8M | $235.1M | $227.9M | $221.8M | $174.8M | $87.0M |
| Income tax | $8.2M | $19.1M | $24.2M | $58.0M | $44.7M | $53.7M | $44.2M | $40.0M | $29.6M | $42.6M |
| Net income | -$167.1M | -$430.3M | -$5.4M | $211.6M | $118.1M | $181.4M | $183.7M | $169.1M | $126.5M | $35.2M |
| EPS, basic | -4.61 | -11.85 | -0.15 | 5.54 | 2.97 | 4.39 | 4.39 | 4.02 | 3.00 | 0.83 |
| EPS, diluted | -4.61 | -11.85 | -0.15 | 5.50 | 2.95 | 4.37 | 4.35 | 3.97 | 2.97 | 0.83 |
| Shares, diluted (wtd. avg.) | $36.2M | $36.3M | $36.7M | $38.5M | $40.1M | $41.5M | $42.2M | $42.6M | $42.5M | $42.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $78.1M | $68.0M | $95.9M | $84.3M | $280.7M | $260.8M | $64.6M | $77.8M | $87.9M | $30.5M |
| Receivables | — | — | — | — | — | $148.0M | $150.0M | $118.9M | $100.0M | $89.8M |
| Inventory | $186.0M | $195.9M | $308.8M | $335.0M | $241.2M | $189.0M | $212.5M | $191.4M | $160.0M | $151.2M |
| Total current assets | $454.2M | $493.2M | $658.6M | $683.3M | $724.9M | $628.7M | $463.2M | $422.7M | $368.7M | $295.2M |
| Property, plant and equipment | $608.1M | $642.9M | $762.2M | $798.6M | $719.7M | $703.6M | $664.7M | $523.8M | $438.5M | $422.8M |
| Goodwill | $4.3M | $175.2M | $527.5M | $518.5M | $442.0M | $445.3M | $436.4M | $130.7M | $12.4M | $12.4M |
| Other intangibles | $176.1M | $278.8M | $336.1M | $404.8M | $337.6M | $373.3M | $396.2M | $125.6M | $4.9M | $7.3M |
| Total assets | $1.65B | $2.02B | $2.62B | $2.74B | $2.47B | $2.33B | $2.14B | $1.32B | $929.6M | $832.8M |
| Accounts payable | $92.0M | $94.5M | $158.4M | $174.8M | $125.8M | $104.2M | $99.1M | $92.9M | $83.1M | $79.2M |
| Short-term debt | $47.1M | $61.3M | $84.4M | $900.0K | $19.6M | $26.0M | $22.5M | $11.2M | $9.4M | $7.5M |
| Total current liabilities | $341.3M | $264.1M | $362.9M | $303.5M | $268.9M | $223.4M | $215.5M | $183.3M | $153.2M | $136.9M |
| Total liabilities | $1.62B | $1.83B | $1.99B | $2.04B | $1.80B | $1.69B | $1.61B | $976.5M | $651.7M | $698.2M |
| Retained earnings | $404.9M | $572.0M | $1.00B | $1.01B | $796.1M | $678.0M | $497.2M | $313.5M | $142.8M | $16.0M |
| Total equity | $29.7M | $195.2M | $631.4M | $698.3M | $673.8M | $642.1M | $530.8M | $338.7M | $277.9M | $134.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $331.2M | $128.6M | $205.1M | $313.4M | $293.3M | $352.4M | $275.7M | $252.0M | $174.3M | $127.9M |
| Depreciation and amortisation | $106.4M | $108.3M | $122.8M | $108.8M | $109.9M | $100.2M | $85.0M | $57.0M | $40.4M | $38.8M |
| Stock-based compensation | — | — | — | — | — | $8.4M | $12.3M | $12.5M | — | — |
| Capital expenditure | $57.7M | $77.6M | $109.8M | $142.5M | $103.8M | $82.1M | $114.8M | $93.9M | $52.6M | $56.7M |
| Investing cash flow | -$57.5M | -$79.5M | -$77.3M | -$551.9M | -$138.6M | -$110.6M | -$658.3M | -$414.4M | -$58.6M | -$126.4M |
| Financing cash flow | -$252.2M | -$70.2M | -$99.9M | $48.1M | -$133.1M | -$50.2M | $369.2M | $153.7M | -$57.8M | -$3.4M |
| Buybacks | $56.3M | $0 | $92.1M | $145.2M | $109.4M | $88.0M | $6.4M | $47.4M | $6.6M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001653477-26-000014.
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