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Ashland Inc. provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; and nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; agricultural chemicals; diagnostic films; and fine chemicals. Its Personal Care segment provides a range of natural, nature-derived, biodegradable, and performance ingredients; solutions for toothpastes, mouth washes and rinses, denture cleaning, and care for teeth; and household supplies nature-derived rheology ingredients, biodegradable surface wetting agents, performance encapsulates, and specialty polymers. The Specialty Additives segment offers rheology modifiers, foam control agents, surfactants and wetting agents, pH neutralizers, advanced ceramics used in catalytic converters, environmental filters, ingredients for the manufacturing of ceramic capacitors, plasma display panels and solar cells, ingredients for textile printing, thermoplastic metals, and alloys for welding. Its Intermediates segment produces 1,4 butanediol and related derivatives, including n-methylpyrrolidone. It offers its products to customers in a range of consumer and industrial markets, such as architectural coatings, construction, energy, food and beverage, personal care, and pharmaceutical. The company was formerly known as Ashland Global Holdings Inc. and changed its name to Ashland Inc. in August 2022. Ashland Inc. was founded in 1924 and is headquartered in Wilmington, Delaware.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Ashland Global Holdings Inc supplies specialty chemical additives and formulated products to industries including coatings, adhesives, personal care and pharmaceuticals. Long-term growth may be driven by demand for higher-performance and sustainable materials, formulation innovation and expansion in emerging markets. Investors may find it attractive for its diversified industrial customer base and focus on specialty, recurring products that could support steadier cash flows than commodity chemicals.
Key investment risks include cyclicality in end markets, raw-material and energy price volatility, regulatory and environmental compliance costs, and competitive and execution pressures that could weigh on margins and growth.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Income before tax | -809.00M | -24.00M | 160.00M | 206.00M | 135.00M |
| Net income | -845.00M | 169.00M | 178.00M | 181.00M | 173.00M |
| Selling general administrative | 344.00M | 404.00M | 307.00M | 393.00M | 358.00M |
| Selling and marketing expenses | 1.00M | - | - | - | - |
| Gross profit | 549.00M | 618.00M | 668.00M | 830.00M | 670.00M |
| Reconciled depreciation | 237.00M | 274.00M | 243.00M | 241.00M | 244.00M |
| Ebit | -746.00M | 29.00M | 160.00M | 246.00M | 181.00M |
| Ebitda | -509.00M | 303.00M | 403.00M | 487.00M | 405.00M |
| Depreciation and amortization | 237.00M | 274.00M | 243.00M | 241.00M | 224.00M |
| Non operating income net other | - | - | - | - | 11.00M |
| Operating income | -775.00M | -26.00M | 172.00M | 246.00M | 181.00M |
| Other operating expenses | 2599.00M | 2139.00M | 2032.00M | 2103.00M | 1939.00M |
| Interest expense | 63.00M | 53.00M | 6.00M | 62.00M | 69.00M |
| Tax provision | 13.00M | -223.00M | -8.00M | 25.00M | -38.00M |
| Interest income | 5.00M | 10.00M | 6.00M | 149.00M | 56.00M |
| Net interest income | -58.00M | -45.00M | -6.00M | -149.00M | -56.00M |
| Extraordinary items | -23.00M | -30.00M | 10.00M | 746.00M | 47.00M |
| Income tax expense | 13.00M | -223.00M | -8.00M | 25.00M | -38.00M |
| Total revenue | 1824.00M | 2113.00M | 2191.00M | 2391.00M | 2111.00M |
| Total operating expenses | 1324.00M | 644.00M | 509.00M | 542.00M | 498.00M |
| Cost of revenue | 1275.00M | 1495.00M | 1523.00M | 1561.00M | 1441.00M |
| Total other income expense net | -34.00M | 2.00M | 7.00M | -40.00M | -46.00M |
| Discontinued operations | - | - | - | 746.00M | 47.00M |
| Net income from continuing ops | -822.00M | 199.00M | 168.00M | 181.00M | 173.00M |
| Net income applicable to common shares | -845.00M | 169.00M | 178.00M | 927.00M | 220.00M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Total assets | 4611.00M | 5645.00M | 5939.00M | 6213.00M | 6612.00M |
| Intangible assets | 563.00M | 757.00M | 886.00M | 963.00M | 1099.00M |
| Other current assets | 180.00M | 123.00M | 125.00M | 91.00M | 68.00M |
| Total liab | 2707.00M | 2777.00M | 2842.00M | 2993.00M | 3860.00M |
| Total stockholder equity | 1904.00M | 2868.00M | 3097.00M | 3220.00M | 2752.00M |
| Deferred long term liab | - | - | - | 2.00M | 237.00M |
| Other current liab | 213.00M | 256.00M | 208.00M | 269.00M | 50.00M |
| Common stock | 1.00M | 1.00M | - | 1.00M | 1.00M |
| Capital stock | 1.00M | 1.00M | - | 1.00M | 1.00M |
| Retained earnings | 2298.00M | 3315.00M | - | 3653.00M | 2796.00M |
| Other liab | - | - | - | 1076.00M | 1220.00M |
| Good will | 705.00M | 1381.00M | 1362.00M | 1312.00M | 1430.00M |
| Other assets | 588.00M | - | 563.00M | 725.00M | 815.00M |
| Cash | 215.00M | 300.00M | 417.00M | 646.00M | 210.00M |
| Cash and equivalents | 215.00M | - | 417.00M | 646.00M | 210.00M |
| Total current liabilities | 423.00M | 490.00M | 456.00M | 553.00M | 934.00M |
| Current deferred revenue | - | - | - | - | 251.00M |
| Net debt | 1360.00M | 1168.00M | 1041.00M | 737.00M | 1893.00M |
| Short term debt | 21.00M | 20.00M | 38.00M | 19.00M | 397.00M |
| Short long term debt | - | - | 16.00M | - | 374.00M |
| Short long term debt total | 1575.00M | 1468.00M | 1458.00M | 1383.00M | 2103.00M |
| Other stockholder equity | 6.00M | - | 3097.00M | 135.00M | 327.00M |
| Property plant equipment | 1304.00M | - | 1495.00M | 1445.00M | 1427.00M |
| Total current assets | 1205.00M | 1195.00M | 1506.00M | 1768.00M | 1717.00M |
| Long term investments | 3.00M | 3.00M | - | 3.00M | 134.00M |
| Net tangible assets | - | - | - | 945.00M | 223.00M |
| Short term investments | - | 73.00M | - | - | - |
| Net receivables | 242.00M | 227.00M | 338.00M | 402.00M | 369.00M |
| Long term debt | 1384.00M | 1349.00M | 1314.00M | 1270.00M | 1596.00M |
| Inventory | 568.00M | 545.00M | 626.00M | 629.00M | 473.00M |
| Accounts payable | 189.00M | 214.00M | 210.00M | 265.00M | 236.00M |
| Accumulated other comprehensive income | -401.00M | -448.00M | - | -569.00M | -372.00M |
| Common stock total equity | - | - | - | 1.00M | 1.00M |
| Retained earnings total equity | - | - | - | 3653.00M | 2796.00M |
| Non currrent assets other | 253.00M | 892.00M | 541.00M | 702.00M | 781.00M |
| Non current assets total | 3406.00M | 4450.00M | 4433.00M | 4445.00M | 4895.00M |
| Capital lease obligations | 106.00M | 119.00M | 128.00M | 113.00M | 133.00M |
| Long term debt total | 1384.00M | - | 1314.00M | 1270.00M | 1596.00M |
| Breakdown | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Investments | -3.00M | -51.00M | -109.00M | 1556.00M | 1.00M |
| Change to liabilities | - | - | -112.00M | 34.00M | 3.00M |
| Total cashflows from investing activities | -3.00M | - | -109.00M | 1556.00M | -367.00M |
| Net borrowings | 0.00M | - | 16.00M | -615.00M | 101.00M |
| Total cash from financing activities | -179.00M | -479.00M | -371.00M | -896.00M | -426.00M |
| Change to operating activities | - | - | 3.00M | -247.00M | 80.00M |
| Net income | -822.00M | 169.00M | 178.00M | 927.00M | 220.00M |
| Change in cash | -85.00M | -117.00M | -229.00M | 436.00M | -244.00M |
| Begin period cash flow | 300.00M | 417.00M | 646.00M | 210.00M | 454.00M |
| End period cash flow | 215.00M | 300.00M | 417.00M | 646.00M | 210.00M |
| Total cash from operating activities | 94.00M | 462.00M | 243.00M | -213.00M | 560.00M |
| Depreciation | 237.00M | 274.00M | 243.00M | 241.00M | 244.00M |
| Other cashflows from investing activities | 15.00M | - | 61.00M | 1618.00M | -277.00M |
| Dividends paid | 76.00M | 78.00M | 76.00M | 70.00M | 70.00M |
| Change to inventory | -28.00M | 79.00M | -141.00M | -141.00M | 41.00M |
| Change to account receivables | -3.00M | 96.00M | -23.00M | -23.00M | 72.00M |
| Sale purchase of stock | -100.00M | -380.00M | -300.00M | -200.00M | -450.00M |
| Other cashflows from financing activities | -3.00M | -5.00M | 5.00M | -376.00M | -13.00M |
| Change to netincome | - | - | -126.00M | -1141.00M | 8.00M |
| Capital expenditures | 98.00M | 137.00M | 170.00M | 113.00M | 105.00M |
| Cash flows other operating | - | - | - | -236.00M | 81.00M |
| Exchange rate changes | - | - | - | - | 3.00M |
| Cash and cash equivalents changes | - | - | - | -805.00M | -324.00M |
| Change in working capital | -191.00M | 227.00M | -58.00M | -247.00M | 80.00M |
| Stock based compensation | 14.00M | 15.00M | 22.00M | 18.00M | 15.00M |
| Other non cash items | 783.00M | 79.00M | -110.00M | -1127.00M | 27.00M |
| Free cash flow | -4.00M | 325.00M | 73.00M | -326.00M | 455.00M |
Sector: Basic Materials Industry: Specialty Chemicals
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| ASH Ashland Global Holdings Inc |
0.34 0.45% |
76.62 | - | 14.56 | 1.45 | 1.40 | 2.11 | 10.70 |
| LIN Linde plc Ordinary Shares |
-5.98 1.15% |
515.25 | 33.77 | 28.90 | 6.56 | 5.42 | 7.03 | 18.92 |
| AIQUY Air Liquide SA ADR |
-0.75 1.77% |
41.68 | 30.69 | 24.81 | 4.70 | 4.10 | 4.36 | 15.61 |
| AIQUF L'Air Liquide S.A |
0.00 0.00% |
211.18 | 29.78 | 22.68 | 4.54 | 3.98 | 4.50 | 15.90 |
| SHW Sherwin-Williams Co |
-4.96 1.42% |
344.05 | 33.33 | 27.40 | 3.38 | 20.60 | 3.88 | 21.36 |
Ashland Inc. provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally. It operates through Life Sciences, Personal Care, Specialty Additives, and Intermediates segments. The Life Sciences segment offers pharmaceutical solutions, including controlled release polymers, disintegrants, tablet coatings, thickeners, solubilizers, and tablet binders; and nutrition solutions, such as thickeners, stabilizers, emulsifiers, and additives; agricultural chemicals; diagnostic films; and fine chemicals. Its Personal Care segment provides a range of natural, nature-derived, biodegradable, and performance ingredients; solutions for toothpastes, mouth washes and rinses, denture cleaning, and care for teeth; and household supplies nature-derived rheology ingredients, biodegradable surface wetting agents, performance encapsulates, and specialty polymers. The Specialty Additives segment offers rheology modifiers, foam control agents, surfactants and wetting agents, pH neutralizers, advanced ceramics used in catalytic converters, environmental filters, ingredients for the manufacturing of ceramic capacitors, plasma display panels and solar cells, ingredients for textile printing, thermoplastic metals, and alloys for welding. Its Intermediates segment produces 1,4 butanediol and related derivatives, including n-methylpyrrolidone. It offers its products to customers in a range of consumer and industrial markets, such as architectural coatings, construction, energy, food and beverage, personal care, and pharmaceutical. The company was formerly known as Ashland Global Holdings Inc. and changed its name to Ashland Inc. in August 2022. Ashland Inc. was founded in 1924 and is headquartered in Wilmington, Delaware.
| Name | Title | Year Born |
|---|---|---|
| Mr. Guillermo Novo | Chairman & CEO | 1962 |
| Mr. John Kevin Willis | Sr. VP & CFO | 1965 |
| Dr. Osama M. Musa | Sr. VP & CTO | 1968 |
| Mr. Min S. Chong | Sr. VP & GM of Specialty Additives and Intermediates and Solvents | 1971 |
| Mr. Ashok S. Kalyana | Sr. VP & GM of Life Sciences | 1972 |
| Mr. Eric N. Boni | VP of Fin. & Principal Accounting Officer | 1969 |
| Seth A. Mrozek | Director of Investor Relations | NA |
| Ms. Yvonne Winkler von Mohrenfels | Sr. VP, Gen. Counsel & Sec. | 1966 |
| Mr. Andrew Beer | VP of Marketing & Bus. Devel. | NA |
| Ms. Eileen M. Drury | Sr. VP & Chief HR Officer | 1968 |
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