NGVTNYSEChemicals & Allied ProductsFiscal year ends December 31
Ingevity Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$70.31+0.49 (+0.70%)
Close on Oct 19, 2026
- Market cap
- $2.48B
- P/E (TTM)
- 47.8
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
39.5%+1.2 pts over 5 years
Operating margin
35.9%+3.1 pts over 5 years
Net margin
-14.3%−29.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.7% | -11.2% | -0.8% | +2.0% | |
| Gross profit | -0.7% | -6.8% | -0.2% | +5.3% | |
| Operating income | -1.7% | -2.6% | +1.0% | +9.7% | |
| Free cash flow | +436.3% | +17.0% | +0.2% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.0% | 30.9% | -148.6% | |
| Return on assets | 4.4% | 8.1% | -9.1% | |
| Current ratio | 2.16 | 2.81 | 1.33 | |
| Debt to equity | 3.85 | 2.01 | 40.69 | |
| Net debt to EBITDA | 2.26× | 2.07× | 2.15× | |
| Interest coverage | 8.5× | 8.4× | 5.3× | |
| Inventory turnover | 4.2× | 3.7× | 3.7× | |
| Capex to revenue | 6.2% | 6.8% | 4.9% | |
| Diluted shares | 42M | 42M | 36M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ingevity generated $1.27B from operations and spent $894.40M on capital expenditure, dividends and share buybacks. 55% of that went back into the business.
Generated
$1.27B
Used
$894.40M
Capital expenditure$491.40M55%Dividends$00%Share buybacks$403.00M45%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-14.3%
×Asset turnover0.64×
×Equity multiplier16.33×
=Return on equity, FY2025-148.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -14.3% | 0.64× | 16.33× | -148.6% |
| FY2024 | -35.9% | 0.52× | 5.62× | -104.1% |
| FY2023 | -0.4% | 0.45× | 4.03× | -0.8% |
| FY2022 | 12.7% | 0.64× | 3.79× | 30.8% |
| FY2021 | 8.5% | 0.58× | 3.65× | 17.9% |
| FY2020 | 14.9% | 0.54× | 3.82× | 30.9% |
| FY2019 | 14.2% | 0.75× | 3.98× | 42.3% |
| FY2018 | 14.9% | 1.01× | 3.64× | 54.8% |
| FY2017 | 13.0% | 1.10× | 4.35× | 62.5% |
| FY2016 | 3.9% | 1.13× | 2.52× | 11.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$167.10M
- Cash generatingOperating cash flow above zero$331.20M
- Return on assets improvedROA up on the prior year-16.4% → -8.3%
- Earnings backed by cashOperating cash flow above net income$331.20M vs -$167.10M
- Less leverageLong-term debt to assets fell66.2% → 70.3%
- Better liquidityCurrent ratio rose1.87 → 1.33
- No dilutionShare count did not rise36M → 36M
- Gross margin improvedGross margin up on the prior year38.73% → 39.53%
- More efficientAsset turnover rose0.46 → 0.58