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ASHLAND INC. ASH

NYSE · stock · Wholesale-Chemicals & Allied Products · website · IPO 1980-03-17 · LEI

ASHLAND INC. statistics & valuation

Market cap$2.9B
P / S1.6×
P / B1.5×
P / FCF81.3×
Dividend yield2.60%
FCF margin2.0%
Net debt$1.2B
Enterprise value USD$4.1B
Earnings yield EBIT/EV-18.9%
Return on capital-18.5%

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Gross margin (%)
29.40% 22.40% 33.30% 30.30% 29.70% 31.70% 34.70% 30.50% 29.20% 30.10% 2016201720182019202020212022202320242025
Operating margin (%)
-1.70% 1.50% 3.90% 4.00% -22.90% 9.10% 13.90% 7.90% -1.20% -42.50% 2016201720182019202020212022202320242025
Return on equity (%)
-0.90% 0.00% 3.30% 14.10% 2016201720182019202020212022202320242025
Shares outstanding
63.0M 62.0M 64.0M 62.0M 61.0M 61.0M 56.0M 54.0M 50.0M 46.0M 2016201720182019202020212022202320242025
Net debt ($)
$1.33B $2.05B $1.98B $1.27B $1.12B $1.39B $624.0M $897.0M $1.05B $1.17B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-0.30% 0.00% 1.40% 7.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
5.10% 0.20% 3.20% -0.30% 4.70% 17.10% 3.30% 5.70% 15.40% 2.00% 2016201720182019202020212022202320242025
Debt / equity (×)
0.70× 0.77× 0.67× 0.42× 0.52× 0.58× 0.39× 0.42× 0.47× 0.73× 2016201720182019202020212022202320242025
EPS ($)
-$0.47 $0.01 $1.79 $8.15 -$8.39 $3.59 $16.41 $3.31 $3.36 -$18.23 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

ASHLAND INC. trades at about 22.2× earnings — near its 10-year norm (10-year range 6.4×–6798×, median 23.2×).

6.4× 6798×

Shaded band = 10-year range (6.4×–6798×); dot = today's 22.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin30.1%29.2%30.5%34.7%31.7%29.7%30.3%33.3%22.4%29.4%
Operating margin-42.5%-1.2%7.9%13.9%9.1%-22.9%4.0%3.9%1.5%-1.7%
Net margin——————23.5%4.4%0.0%-1.0%
FCF margin2.0%15.4%5.7%3.3%17.1%4.7%-0.3%3.2%0.2%5.1%
Return on assets——————7.0%1.4%0.0%-0.3%
Return on equity——————14.1%3.3%0.0%-0.9%
Debt / equity0.73×0.47×0.42×0.39×0.58×0.52×0.42×0.67×0.77×0.70×
Current ratio2.852.443.303.201.841.901.891.591.972.33

Computed from company filings · US · as of 2025-09-30. Facts plus Stocktoria's own computed scores — not investment advice.