ASH · Ashland Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $482.00M | $386.00M | $463.00M | $479.00M | $405.00M | $544.00M | $575.00M | $473.00M | $546.00M | $603.00M |
| Cost of Revenue | $335.00M | $281.00M | $331.00M | $332.00M | $294.00M | $358.00M | $414.00M | $375.00M | $368.00M | $406.00M |
| Gross Profit | $147.00M | $105.00M | $132.00M | $147.00M | $111.00M | $186.00M | $161.00M | $98.00M | $178.00M | $197.00M |
| R&D | $14.00M | $13.00M | $13.00M | $14.00M | $13.00M | $15.00M | $14.00M | $12.00M | $12.00M | $12.00M |
| SG&A | $79.00M | $86.00M | $106.00M | $85.00M | $78.00M | $114.00M | $106.00M | $83.00M | $84.00M | $79.00M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $30.00M | $48.00M | $61.00M | $45.00M | $51.00M | $42.00M | $63.00M | $77.00M | $38.00M | $37.00M |
| Operating Income | $39.00M | ($6.00M) | ($708.00M) | $51.00M | ($179.00M) | ($61.00M) | $21.00M | ($18.00M) | $62.00M | $83.00M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $5.00M | ($1.00M) | $15.00M | $9.00M | ($43.00M) | ($101.00M) | ($104.00M) | ($24.00M) | $15.00M | ($1.00M) |
| Net Income | $16.00M | ($12.00M) | ($742.00M) | $31.00M | ($165.00M) | $6.00M | $120.00M | $26.00M | $50.00M | $91.00M |
| EPS - Basic | $0.34 | ($0.26) | ($16.21) | $0.65 | ($3.50) | $0.12 | $2.42 | $0.51 | $0.96 | $1.70 |
| EPS - Diluted | $0.34 | ($0.26) | ($16.21) | $0.65 | ($3.50) | $0.12 | $2.39 | $0.51 | $0.94 | $1.67 |
Balance Sheet
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $343.00M | $304.00M | $215.00M | $168.00M | $219.00M | $300.00M | $439.00M | $440.00M | $417.00M | $399.00M |
| Accounts Receivable | $244.00M | $190.00M | $242.00M | $226.00M | $163.00M | $243.00M | $260.00M | $194.00M | $338.00M | $395.00M |
| Inventory | $506.00M | $565.00M | $568.00M | $542.00M | $528.00M | $545.00M | $550.00M | $588.00M | $626.00M | $730.00M |
| Accounts Payable | $181.00M | $167.00M | $189.00M | $185.00M | $184.00M | $214.00M | $207.00M | $202.00M | $210.00M | $246.00M |
| Current Assets | $1.21B | $1.15B | $1.21B | $1.07B | $1.07B | $1.20B | $1.43B | $1.36B | $1.51B | $1.63B |
| Total Assets | $4.50B | $4.52B | $4.61B | $5.23B | $5.23B | $5.64B | $5.95B | $5.87B | $5.94B | $6.18B |
| Current Liabilities | $395.00M | $366.00M | $423.00M | $463.00M | $425.00M | $490.00M | $453.00M | $414.00M | $456.00M | $472.00M |
| Long-term Debt | $1.37B | $1.39B | $1.38B | $1.34B | $1.31B | $1.35B | $1.33B | $1.34B | $1.31B | $1.33B |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $1.87B | $1.88B | $1.90B | $2.56B | $2.59B | $2.87B | $3.13B | $3.05B | $3.10B | $3.27B |
| Retained Earnings | - | - | $2.30B | - | - | $3.31B | - | - | $3.60B | - |
Cash Flow
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | $125.00M | - | - | ($30.00M) | - | - | $201.00M | - | - |
| Investing Cash Flow | - | $2.00M | - | - | ($18.00M) | - | - | ($27.00M) | - | - |
| Financing Cash Flow | - | ($21.00M) | - | - | ($22.00M) | - | - | ($139.00M) | - | - |
| CapEx | - | $14.00M | - | - | $23.00M | - | - | $36.00M | - | - |
| Free Cash Flow | - | $111.00M | - | - | ($53.00M) | - | - | $165.00M | - | - |
Ratios
| Metric | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 30.5% | 27.2% | 28.5% | 30.7% | 27.4% | 34.2% | 28.0% | 20.7% | 32.6% | 32.7% |
| Operating margin | 8.1% | -1.6% | -152.9% | 10.6% | -44.2% | -11.2% | 3.7% | -3.8% | 11.4% | 13.8% |
| EBITDA margin | 14.3% | 10.9% | -139.7% | 20.0% | -31.6% | -3.5% | 14.6% | 12.5% | 18.3% | 19.9% |
| Net margin | 3.3% | -3.1% | -160.3% | 6.5% | -40.7% | 1.1% | 20.9% | 5.5% | 9.2% | 15.1% |
| Free cash flow margin | - | 28.8% | - | - | -13.1% | - | - | 34.9% | - | - |
| FCF / Net income | - | -9.25 | - | - | 0.32 | - | - | 6.35 | - | - |
| R&D / Revenue | 2.9% | 3.4% | 2.8% | 2.9% | 3.2% | 2.8% | 2.4% | 2.5% | 2.2% | 2.0% |
| SG&A / Revenue | 16.4% | 22.3% | 22.9% | 17.7% | 19.3% | 21.0% | 18.4% | 17.5% | 15.4% | 13.1% |
| Effective tax rate | 23.8% | - | - | 22.5% | - | - | -650.0% | -1200.0% | 23.1% | -1.1% |
| Return on assets | 0.4% | -0.3% | -16.1% | 0.6% | -3.2% | 0.1% | 2.0% | 0.4% | 0.8% | 1.5% |
| Return on equity | 0.9% | -0.6% | -39.0% | 1.2% | -6.4% | 0.2% | 3.8% | 0.9% | 1.6% | 2.8% |
| Return on invested capital | 0.9% | -0.1% | -17.0% | 1.0% | -3.6% | -1.1% | 0.5% | -0.4% | 1.1% | 1.8% |
| Liquidity | ||||||||||
| Current ratio | 3.06 | 3.15 | 2.85 | 2.32 | 2.52 | 2.44 | 3.15 | 3.30 | 3.30 | 3.46 |
| Quick ratio | 1.78 | 1.61 | 1.51 | 1.15 | 1.27 | 1.33 | 1.94 | 1.88 | 1.93 | 1.91 |
| Cash ratio | 0.87 | 0.83 | 0.51 | 0.36 | 0.52 | 0.61 | 0.97 | 1.06 | 0.91 | 0.85 |
| Leverage | ||||||||||
| Debt / Equity | 0.74 | 0.74 | 0.73 | 0.52 | 0.51 | 0.47 | 0.42 | 0.44 | 0.42 | 0.41 |
| Debt / Assets | 0.31 | 0.31 | 0.30 | 0.26 | 0.25 | 0.24 | 0.22 | 0.23 | 0.22 | 0.21 |
| Debt / EBITDA | 19.91 | 33.02 | - | 13.92 | - | - | 15.81 | 22.73 | 13.14 | 11.07 |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.41 | 2.41 | 2.42 | 2.04 | 2.02 | 1.97 | 1.90 | 1.92 | 1.92 | 1.89 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | 0.09 | 0.10 | 0.09 | 0.08 | 0.10 | 0.10 | 0.08 | 0.09 | 0.10 |
| Inventory turnover | 0.66 | 0.50 | 0.58 | 0.61 | 0.56 | 0.66 | 0.75 | 0.64 | 0.59 | 0.56 |
| Days sales outstanding | 185d | 180d | 191d | 172d | 147d | 163d | 165d | 150d | 226d | 239d |
| Days inventory outstanding | 551d | 734d | 626d | 596d | 656d | 556d | 485d | 572d | 621d | 656d |
| Days payable outstanding | 197d | 217d | 208d | 203d | 228d | 218d | 183d | 197d | 208d | 221d |
| Cash conversion cycle | 539d | 697d | 609d | 565d | 574d | 501d | 467d | 525d | 639d | 674d |
| Valuation | ||||||||||
| P / E | 163.6x | - | - | 91.2x | - | 724.8x | 40.7x | 165.3x | 86.9x | 61.5x |
| P / B | 0.0x | 0.0x | 1.2x | 1.1x | 1.3x | 1.5x | 1.6x | 1.4x | 1.4x | 1.7x |
| P / S | 0.0x | 0.0x | 4.8x | 5.8x | 8.3x | 8.2x | 8.6x | 9.1x | 7.9x | 9.4x |
| EV / EBITDA | 14.9x | 25.8x | - | 41.2x | - | - | 69.7x | 88.1x | 52.3x | 54.8x |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.6% | -4.7% | -14.9% | -16.7% | -14.4% | -0.4% | -4.6% | -9.9% | -15.2% | -0.2% |
| Revenue CAGR (3y) | -7.2% | -9.7% | -10.4% | -7.4% | -7.5% | -5.1% | -1.3% | -5.0% | -1.7% | -0.4% |
| Revenue CAGR (5y) | -4.2% | -6.9% | -4.2% | -4.7% | -5.3% | -3.2% | -2.9% | -3.9% | -10.9% | -9.1% |
| Gross profit growth (YoY) | 0.0% | -5.4% | -29.0% | -8.7% | 13.3% | 4.5% | -18.3% | -40.6% | -25.8% | -10.5% |
| Operating income growth (YoY) | -23.5% | 96.6% | -1060.7% | 142.9% | -894.4% | - | -74.7% | - | -19.5% | -10.8% |
| Net income growth (YoY) | -48.4% | 92.7% | - | -74.2% | - | -88.0% | 31.9% | -35.0% | 38.9% | -88.4% |
| EPS growth (YoY) | -47.7% | 92.6% | - | -72.8% | - | -87.2% | 43.1% | -30.1% | 44.6% | -87.8% |
| EPS CAGR (3y) | -41.2% | - | - | -63.8% | - | -54.7% | 53.6% | -17.6% | 15.5% | - |
| EPS CAGR (5y) | -12.4% | - | - | - | - | -35.2% | 15.0% | - | 10.9% | 7.7% |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | 7.9% | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -27.1% | -27.5% | -33.6% | -18.3% | -15.1% | -7.4% | -4.1% | -8.0% | -3.8% | -3.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-09-30.
Business segments
$2.58B totalLife Sciences$641.00M · 24.8%
Personal Care And Household$577.00M · 22.4%
Personal Care$577.00M · 22.4%
Specialty Additives$511.00M · 19.8%
Intermediates And Solvents$137.00M · 5.3%
Intermediates$137.00M · 5.3%
Geographic
$2.46B totalNon Us$1.36B · 55.2%
US$464.00M · 18.8%
Europe$240.00M · 9.7%
Asia Pacific$207.00M · 8.4%
North America$117.00M · 4.7%
Latin America And Other$77.00M · 3.1%
Peer comparison
Same SIC group: Wholesale-Chemicals & Allied Products
Comparing ASHLAND INC. against the 2 most active filers in the same SIC group.
Dividends
$1.67/share trailing 12 months · +2.1% YoY
| Ex-date | Per share |
|---|---|
| Jun 1, 2026 | $0.4200 |
| Feb 27, 2026 | $0.4150 |
| Dec 1, 2025 | $0.4150 |
| Aug 29, 2025 | $0.4150 |
| May 30, 2025 | $0.4150 |
| Feb 28, 2025 | $0.4050 |
| Nov 29, 2024 | $0.4050 |
| Aug 30, 2024 | $0.4050 |
| May 31, 2024 | $0.4050 |
| Feb 29, 2024 | $0.3850 |
| Nov 30, 2023 | $0.3850 |
| Aug 31, 2023 | $0.3850 |
| May 31, 2023 | $0.3850 |
| Feb 28, 2023 | $0.3350 |
| Nov 30, 2022 | $0.3350 |
| Aug 31, 2022 | $0.3350 |
| May 31, 2022 | $0.3350 |
| Feb 28, 2022 | $0.3000 |
| Nov 30, 2021 | $0.3000 |
| Aug 31, 2021 | $0.3000 |
| May 28, 2021 | $0.3000 |
| Feb 25, 2021 | $0.2750 |
| Nov 30, 2020 | $0.2750 |
| Aug 31, 2020 | $0.2750 |