Innospec (IOSP) FY2025 results: revenue $1.8 billion, down 3.7% on the year
Innospec Inc. (IOSP) reported revenue of $1.8 billion for fiscal 2025, the year ended 31 December 2025, down 3.7% on the year before. Net income was $117 million, up 227.5%, and diluted earnings per share $4.67. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2026.
Revenue
$1.8 billion
-3.7% on the year
FY2018FY2025
Operating margin
7.3%
9.6% a year earlier
FY2018FY2025
Net income
$117 million
+227.5% on the year
FY2018FY2025
Diluted EPS
$4.67
+228.9% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Sales and operating income in quarter: Net sales were $455.6 million, down 2 percent. Operating income rose to $46.8 million from $41.1 million, with lower selling, general and administrative expense. Full-year net sales were $1.78 billion, down 4 percent.
Full-year adjusted EBITDA down 10 percent: Fourth-quarter adjusted EBITDA was $55.7 million, against $56.6 million. Full-year adjusted EBITDA fell to $203.0 million from $225.2 million, with Performance Chemicals and Oilfield Services operating income down for the year.
Operating income down 14 percent: Operating income was $17.7 million, down from $20.6 million. Third-quarter operating income was $9.2 million, so fourth-quarter operating income rose sequentially, which management linked to margin actions.
Operating income up 7 percent: Revenue was $194.1 million, up 1 percent. Volumes rose 8 percent, offset by price/mix down 10 percent and currency up 3 percent. Operating income was $37.2 million.
Sales down, operating income up: Revenue was $93.1 million, down 12 percent. Operating income rose 9 percent to $8.2 million, and gross margin reached 31.9 percent, up 1.8 points on a richer sales mix.
$ million except per share. 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.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
138
184
207
-25.0%
Capital expenditure
50.3
41.4
62.1
+21.5%
Free cash flow
88.0
143
145
-38.5%
Free cash flow margin
4.9%
7.8%
7.5%
Cash from investing
-75.1
-62.0
-112
Cash from financing
-63.9
-35.3
-39.0
Depreciation and amortisation
43.6
43.5
39.3
+0.2%
Share-based compensation
8.1
8.5
8.0
-4.7%
Buybacks
23.9
0.7
1.1
+3,314.3%
Dividends paid
42.4
38.8
35.1
+9.3%
Dividend per share
$1.71
$1.55
$1.41
+10.3%
Diluted shares, weighted
25m
25m
25m
-0.5%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,326
1,211
1,147
+9.5%
Non-controlling interest
6.8
4.9
2.5
+38.8%
Debt
0.0
0.0
0.0
Operating lease liabilities
36.8
31.0
31.6
+18.7%
Other liabilities
463
488
526
-5.1%
Total liabilities and equity
1,832
1,735
1,707
+5.6%
Fixed assets
286
270
268
+6.1%
Goodwill
399
382
399
+4.3%
Intangible assets
67.7
65.4
57.3
+3.5%
Cash and equivalents
292
289
204
+1.1%
Receivables
342
342
360
+0.2%
Inventory
329
301
300
+9.4%
Other assets
116
85.2
119
+35.6%
Total assets
1,832
1,735
1,707
+5.6%
10-K for the year ended 31 December 2025, filed 18 February 2026: the filing.