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Ashland Inc. (ASH)

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Ashland Inc. (ASH) reported revenue of $497 million for Q3 FY2026, the quarter ended 30 June 2026, up 7.3% on the same quarter a year earlier. Net income was $16 million, and diluted earnings per share $0.35. The figures are the company's own, from the 10-Q it filed with the SEC on 29 July 2026.

Revenue$497 millionup 7.3%
Net income$16 million
Diluted EPS$0.35
QuarterQ3 FY2026ended 30 June 2026

Ashland (ASH) in brief

Ashland (ASH) reported revenue of $1.8 billion for fiscal 2025, the year ended 30 September 2025, down 13.7% on the year before.
Read moreNet loss was $845 million and the diluted loss per share $18.23. Revenue was $2.1 billion in fiscal 2024, $2.2 billion in fiscal 2023, $2.4 billion in fiscal 2022 and $2.1 billion in fiscal 2021. Net income in the same years was $169 million, $178 million, $927 million and $220 million. Over the twelve months to 30 June 2026, Ashland reported revenue of $1.8 billion and net income of $51 million. Revenue fell 2.0% a year, compounded, over the five years to fiscal 2025. Ashland declared $1.64 a share in dividends over the last four quarters and had 46 million shares outstanding at the latest filed count. At 30 June 2026 it carried $1.4 billion of debt and $440 million of cash. At the close of 8 October 2026 the market cap of Ashland was $3.2 billion, 62.0 times its earnings over the last twelve months.

Ratios

From the filings

ROE2.7%
ROCE4.2%
Operating margin7.4%
Net margin2.8%
FCF marginn/a
Interest covern/a
Debt to equity0.73
Cash conversionn/a
Share count, 1 year0.2%
Sales CAGR, 3 years-8.6%
Profit CAGR, 3 yearsn/a
EPS, TTM$1.14

At the close of 8 October 2026

Price$70.69
Market cap$3.2 billion
Stock P/E62.01
Price to book1.73
EV / EBITDA12.76
Dividend yield2.3%
Market cap / sales1.76
52-week high$76.45
52-week low$47.51
Price, 1 year45.5%
Price CAGR, 3 years-2.7%
Price CAGR, 5 years-5.3%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Ashland Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
ASHgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on ASH

Filings22 in twelve months: 12 current reports (8-K), about 5 regulation fd disclosure; 4 material agreement; 4 officer or director change; 4 results of operations; 3 new financial obligation
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.13 by open interest at the 8 October 2026 close; the straddle prices a 5.7% move to 16 October 2026
13F holders6 of the followed funds hold it; largest Geode Capital Management; 10 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest4.4 million shares short, 6.78 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue517473575544521405479463477386482497
Cost of revenue389375414358348294332331318281335327
Gross profit12898.0161186173111147132159105147170
Gross margin25%21%28%34%33%27%31%29%33%27%30%34%
R&D14.012.014.015.014.013.014.013.014.013.014.015.0
SG&A10983.010611410178.085.010675.086.079.099.0
Operating income-10.0-18.021.0-61.032.0-17951.0-70861.0-6.039.043.0
Operating margin-2%-4%4%-11%6%-44%11%-153%13%-2%8%9%
Pre-tax income-38.04.017.0-70.025.0-20939.0-70465.0-15.020.056.0
Tax raten/a-600%-612%n/a24%n/a23%n/a49%n/a25%27%
Net income-3.026.01206.017.0-16531.0-74231.0-12.016.016.0
Net margin-1%5%21%1%3%-41%6%-160%6%-3%3%3%
Diluted EPS-$0.07$0.51$2.39$0.12$0.33-$3.50$0.65-$16.21$0.71-$0.26$0.34$0.35
Capital expenditure69.036.034.029.038.023.021.020.034.014.017.020.0
Buybacks0.01000.01301500.01000.00.0n/an/a0.0
Dividends paid20.020.019.020.019.019.019.019.019.019.019.019.0
Shares outstanding51m50m50m49m47m47m46m46m46m46m46m46m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue6,1003,4203,0192,3092,5892,1482,0162,1112,3912,1912,1131,8241,842
Cost of revenue4,6052,5322,1321,5801,7261,4971,4171,4411,5611,5231,4951,2751,261
Gross profitn/a888887729863651599670830668618549581
Gross marginn/a26.0%29.4%31.6%33.3%30.3%29.7%31.7%34.7%30.5%29.2%30.1%31.5%
Research and development11499.087.073.073.058.056.050.055.051.055.054.056.0
Selling, general and administrative1,358692858610599426400358393365404344339
Operating income46.0112-50.049.010286.0-461192333172-26.0-775137
Operating margin0.8%3.3%-1.7%2.1%3.9%4.0%-22.9%9.1%13.9%7.9%-1.2%-42.5%7.4%
Interest expense-163-16618022711611488.069.062.054.053.061.0n/a
Pre-tax income-116-151-308-19611.0-9.0-577135206160-24.0-809126
Income tax-188-139-25.0-16.0-8.030.0-22.0-38.025.0-8.0-22313.051.0
Effective tax raten/an/an/an/a-72.7%n/an/a-28.1%12.1%-5.0%n/an/a40.5%
Net income233309-29.01.0114505-508220927178169-84551.0
Net margin3.8%9.0%-1.0%0.0%4.4%23.5%-25.2%10.4%38.8%8.1%8.0%-46.3%2.8%
Diluted EPS$3.00$4.48-$0.46$0.01$1.79$8.03-$8.39$3.59$16.41$3.31$3.36-$18.23$1.14
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by region

FY2023FY2024FY2025Share
latest year
International1,5571,4891,36074.6%
United States63462446425.4%
InternationalUnited States
2,191FY20232,113FY20241,824FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow643333n/an/a297241203560-21324341194.0n/a
Capital expenditure24822023116815714713310511317013798.085.0
Free cash flow395113n/an/a14094.070.0455-32673.0274-4.0n/a
Free cash flow margin6.5%3.3%n/an/a5.4%4.4%3.5%21.6%-13.6%3.3%13.0%-0.2%n/a
Cash from investingn/an/an/an/an/an/an/an/an/a-109-51.0-3.019.0
Cash from financingn/an/an/an/a-368-1,1499.0-426-896-371-479-179-78.0
Depreciation and amortisation393306302265277277235244241243274237190
Share-based compensation34.030.030.020.027.021.014.015.018.022.015.014.018.0
Buybacks9543975000.0n/a200n/a450200300380100n/a
Dividends paid10398.097.077.060.064.066.070.070.076.078.076.076.0
Dividend per share$1.36$1.46$1.56$1.23$0.95$1.05$1.10$1.15$1.27$1.44$1.58$1.64n/a
Diluted shares, weighted78m69m64m62m64m63m61m61m56m54m50m46m46m
Shares outstanding at period endn/a67m62m62m62m60m61mn/an/an/an/an/a46m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity3,5833,0373,3473,4063,4063,5713,0362,7523,2203,0972,8681,9041,870
Non-controlling interestn/a0.0-1820.0n/an/an/an/an/an/an/an/an/a
Short-term borrowingsn/a326170n/an/an/an/an/an/an/an/an/an/a
Debtn/a3,4312,3452,8192,5291,6671,8531,9701,2701,3301,3491,3841,374
Operating lease liabilitiesn/an/an/an/an/an/a11411094.010699.085.084.0
Other liabilitiesn/a3,2604,3202,3932,3172,0131,8741,7801,6291,4061,3291,2381,250
Total liabilities and equityn/a10,05410,0008,6188,2527,2516,8776,6126,2135,9395,6454,6114,578
Owned
Fixed assets2,4141,9291,9001,9701,6461,5771,4851,4271,3381,3731,3031,2011,149
Goodwill2,6432,3172,1382,3152,3041,8001,3051,4301,3121,3621,381705700
Intangible assetsn/a1,1421,0611,3191,1851,0881,0131,099963886751563513
Securities held for sale or to maturityn/an/an/an/a342334331421n/an/an/an/an/a
Cash and equivalents1,3931,2571,017566294232454210646417300215440
Receivablesn/a961529612522481437369402338243242256
Inventoryn/a706539634596597506473629626545568490
Other assets4,4571,7422,8161,2021,3631,1421,3461,1839239371,1221,1171,030
Total assets10,90710,05410,0008,6188,2527,2516,8776,6126,2135,9395,6454,6114,578
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-6.1%-2.0%-8.6%-1.4%
Profit growth, compoundedn/an/an/an/a
Return on equity, average0.4%0.8%-10.9%-44.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Wholesale

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Genuine Parts Co. GPC$17.7 billion512.680.7%3.7%5.5%0.883.2%
Wesco International Inc. WCC$17.3 billion24.6013.6%5.4%12.5%1.13n/a
Performance Food Group Co. PFGC$14.8 billion41.367.3%1.3%7.2%1.02n/a
Applied Industrial Technologies Inc. AIT$12.2 billion30.3022.3%11.1%8.8%0.140.6%
Arrow Electronics, Inc. ARW$11.5 billion14.4911.6%3.4%26.1%0.29n/a
Watsco Inc. WSO$10.8 billion24.1815.9%9.4%-3.0%0.044.1%
Dominos Pizza Inc. DPZ$10.2 billion17.78n/a19.6%6.2%n/a2.3%
Henry Schein Inc. HSIC$9.5 billion24.6712.8%5.0%6.5%0.73n/a
Avnet Inc. AVT$8.2 billion24.956.7%2.6%24.5%0.641.4%
Core & Main, Inc. CNM$7.8 billion16.6122.6%9.6%-0.5%1.20n/a
MSC Industrial Direct Co. Inc. MSM$7.2 billion31.1416.3%8.5%4.4%0.361.7%
Ashland Inc. ASH$3.2 billion62.012.7%7.4%-1.4%0.732.3%
All 22 in Wholesale
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Mckesson Corp. MCK$108.5 billion24.89n/a1.6%8.8%n/a0.3%
TE Connectivity plc TEL$62.0 billion21.0122.8%19.7%16.5%0.421.3%
Cencora, Inc. COR$61.3 billion23.8786.0%0.9%5.1%3.840.7%
W.W. Grainger, Inc. GWW$59.8 billion32.3545.3%14.6%7.8%0.580.7%
Cardinal Health Inc. CAH$55.6 billion33.01n/a1.0%14.2%n/a0.9%
Ferguson Enterprises Inc. FERG$41.9 billion24.0528.5%8.2%3.4%0.721.6%
Sysco Corp. SYY$37.5 billion21.3765.9%3.7%3.9%4.622.8%
TD Synnex Corp. SNX$21.3 billion16.3014.3%2.7%24.1%0.390.7%
US Foods Holding Corp. USFD$21.0 billion29.8817.0%3.1%3.8%1.19n/a
Reliance, Inc. RS$20.3 billion23.0812.1%7.8%15.4%0.221.2%
Genuine Parts Co. GPC$17.7 billion512.680.7%3.7%5.5%0.883.2%
Wesco International Inc. WCC$17.3 billion24.6013.6%5.4%12.5%1.13n/a
Performance Food Group Co. PFGC$14.8 billion41.367.3%1.3%7.2%1.02n/a
Applied Industrial Technologies Inc. AIT$12.2 billion30.3022.3%11.1%8.8%0.140.6%
Arrow Electronics, Inc. ARW$11.5 billion14.4911.6%3.4%26.1%0.29n/a
Watsco Inc. WSO$10.8 billion24.1815.9%9.4%-3.0%0.044.1%
Dominos Pizza Inc. DPZ$10.2 billion17.78n/a19.6%6.2%n/a2.3%
Henry Schein Inc. HSIC$9.5 billion24.6712.8%5.0%6.5%0.73n/a
Avnet Inc. AVT$8.2 billion24.956.7%2.6%24.5%0.641.4%
Core & Main, Inc. CNM$7.8 billion16.6122.6%9.6%-0.5%1.20n/a
MSC Industrial Direct Co. Inc. MSM$7.2 billion31.1416.3%8.5%4.4%0.361.7%
Ashland Inc. ASH$3.2 billion62.012.7%7.4%-1.4%0.732.3%
No other company here shares its SEC industry code (Wholesale-Chemicals & Allied Products); these are the names nearest in size in its wider industry, Wholesale, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202629 July 2026EDGAR
10-Q31 March 202629 April 2026EDGAR
10-Q31 December 20253 February 2026EDGAR
10-K30 September 202520 November 2025EDGAR
10-Q30 June 202530 July 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-Q31 December 202429 January 2025EDGAR
10-K30 September 202418 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR
10-Q31 March 20241 May 2024EDGAR

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