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Friday 6 November 2026
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Ashland Inc.
ASH Basic Materials Specialty Chemicals
Ashland Inc.’s revenue for fiscal 2026 (year ended September 2026) was $1.9 billion, up 2.14% from fiscal 2025.
- Revenue
- +4.40%
- EPS
- +102.2%
- Free cash flow
- +400.0%
- Total debt
- −0.94%
Quarter to September 2026, against a year earlier
75.49
0.79
−1.04%
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| Sep '17 | Sep '18 | Sep '19 | Sep '20 | Sep '21 | Sep '22 | Sep '23 | Sep '24 | Sep '25 | Sep '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 47.04 | 9.40 | 0.00 | 24.89 | 5.86 | 24.38 | 25.96 | 0.00 | 59.58 |
Piotroski F-Score |
6 | 7 | 6 | 5 | 7 | 8 | 5 | 5 | 5 | — |
Altman Z-Score |
1.32 | 1.57 | 1.85 | 1.42 | 1.98 | 2.67 | 2.44 | 2.25 | 1.23 | — |
P/S ratio |
1.27 | 2.05 | 2.22 | 2.15 | 2.53 | 2.18 | 1.93 | 2.02 | 1.21 | 1.68 |
Altman Z″-Score (non-manufacturers) |
2.46 | 2.41 | 3.16 | 2.34 | 3.10 | 4.69 | 4.47 | 3.79 | 2.35 | — |
P/FCF ratio |
376.28 | 60.29 | 2,388.55 | 43.70 | 14.61 | 39.87 | 31.30 | 13.11 | 42.38 | 10.31 |
Beneish M-Score |
(2.47) | (2.68) | (2.50) | (3.13) | (2.89) | (2.39) | (2.65) | (2.98) | (3.64) | (2.61) |
P/Operating CF |
94.07 | 35.85 | 101.64 | 58.46 | 35.18 | 29.18 | 32.25 | 53.27 | 55.10 | 34.71 |
P/B ratio |
1.22 | 1.56 | 1.34 | 1.42 | 1.94 | 1.62 | 1.36 | 1.49 | 1.16 | 1.64 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | 16 | 47 |
Price to Tangible BV |
0.00 | 0.00 | 20.77 | 6.01 | 23.98 | 5.53 | 4.98 | 5.79 | 3.47 | 4.41 |
EV/Sales |
1.96 | 2.91 | 2.89 | 2.84 | 3.37 | 2.45 | 2.35 | 2.52 | 1.88 | 2.16 |
EV/EBITDA |
12.46 | 19.48 | 16.52 | 0.00 | 16.04 | 10.10 | 12.20 | 20.97 | 19.56 | 11.95 |
EV/Operating CF |
36.74 | 31.29 | 44.37 | 25.22 | 15.25 | 30.40 | 17.48 | 11.53 | 25.54 | 10.43 |
EV/FCF |
581.10 | 85.68 | 3,106.05 | 57.83 | 19.42 | 44.78 | 38.06 | 16.39 | 65.82 | 13.25 |
Quick Ratio |
1.22 | 0.76 | 0.94 | 1.10 | 0.62 | 1.90 | 1.66 | 1.11 | 1.08 | 1.65 |
Current Ratio |
1.97 | 1.59 | 1.89 | 1.90 | 1.84 | 3.20 | 3.30 | 2.44 | 2.85 | 2.96 |
Net Debt/EBITDA |
5.33 | 5.78 | 3.82 | (6.63) | 3.97 | 1.11 | 2.17 | 4.13 | 6.68 | 2.99 |
Debt/Assets |
32.71% | 30.62% | 22.99% | 26.94% | 29.79% | 20.75% | 22.39% | 23.90% | 30.02% | 30.28% |
Debt/Equity |
0.83 | 0.74 | 0.47 | 0.61 | 0.72 | 0.40 | 0.43 | 0.47 | 0.73 | 0.74 |
Asset Turnover |
0.25 | 0.31 | 0.28 | 0.29 | 0.31 | 0.37 | 0.36 | 0.36 | 0.36 | 0.41 |
Operating CF/Net income |
174.00 | 2.11 | 0.28 | (0.45) | 2.12 | 0.21 | 1.65 | 2.73 | (0.16) | 96.25 |
Capex/Depreciation |
(0.44) | (0.54) | (0.48) | (0.51) | (0.40) | (0.25) | (0.64) | (0.49) | (0.09) | (0.42) |
Interest Coverage |
0.21 | 1.00 | 0.87 | (3.87) | 3.43 | 2.23 | 28.67 | 1.08 | (23.48) | 2.63 |
| 0.03% | 3.35% | 14.48% | (15.38%) | 7.60% | 31.04% | 5.64% | 5.67% | (35.41%) | 0.00% | |
| 0.01% | 1.35% | 6.51% | (7.19%) | 3.26% | 14.46% | 2.93% | 2.92% | (16.48%) | 0.09% | |
ROIC |
0.54% | 1.13% | 1.07% | (6.50%) | 2.66% | 5.39% | 2.68% | (0.41%) | (15.76%) | 2.40% |
Return on Tangible Assets |
0.03% | 5.00% | 22.41% | (22.89%) | 9.95% | 36.31% | 7.35% | 8.42% | (42.61%) | 0.20% |
Average Days of Receivables |
96.74 | 73.59 | 81.73 | 79.12 | 63.80 | 61.37 | 56.31 | 41.98 | 48.43 | 52.11 |
Research and Development Expense of Revenue |
3.16% | 2.82% | 2.70% | 2.78% | 2.37% | 2.30% | 2.33% | 2.60% | 2.96% | 2.95% |
Selling, General and Administrative Expense of Revenue |
26.42% | 23.14% | 19.83% | 19.84% | 16.96% | 16.44% | 16.66% | 19.12% | 18.86% | 20.24% |
Intangible Assets out of Total Assets |
0.44 | 0.42 | 0.46 | 0.34 | 0.38 | 0.37 | 0.38 | 0.38 | 0.28 | 0.26 |
Share Based Compensation of Revenue |
1.00% | 1.20% | 1.49% | 0.74% | 0.81% | 0.79% | 1.10% | 0.71% | 0.60% | 0.97% |
Graham Net Nets |
(0.80) | (0.59) | (0.47) | (0.53) | (0.40) | (0.23) | (0.32) | (0.37) | (0.68) | (0.43) |
Graham Number |
0.00 | 46.66 | 103.09 | 0.00 | 60.78 | 146.13 | 65.57 | 66.42 | 0.00 | — |
Earnings Yield |
0.00% | 2.13% | 10.64% | (11.84%) | 4.02% | 17.07% | 4.10% | 3.85% | (38.30%) | 1.68% |
Free Cash Flow Yield |
0.27% | 1.66% | 0.04% | 2.29% | 6.84% | 2.51% | 3.20% | 7.63% | 2.36% | 9.70% |
Revenue per Share |
37.24 | 41.10 | 34.65 | 33.05 | 35.18 | 43.47 | 41.34 | 43.12 | 39.65 | 0.00 |
Operating CF per Share |
2.81 | 3.83 | 2.26 | 3.72 | 7.77 | 3.51 | 5.55 | 9.43 | 2.91 | 0.00 |
Capex per Share |
(2.63) | (2.43) | (2.23) | (2.10) | (1.67) | (1.13) | (3.00) | (2.80) | (1.78) | 0.00 |
Free Cash Flow per Share |
0.18 | 1.40 | 0.03 | 1.62 | 6.10 | 2.38 | 2.55 | 6.63 | 1.13 | 0.00 |
Cash per Share |
9.13 | 4.67 | 3.74 | 7.44 | 3.50 | 11.75 | 7.87 | 6.12 | 4.67 | 0.00 |
Shareholders Equity per Share |
54.94 | 54.06 | 57.60 | 49.77 | 45.87 | 58.55 | 58.43 | 58.53 | 41.39 | 0.00 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
54.94 | 54.06 | 57.60 | 49.77 | 45.87 | 58.55 | 58.43 | 58.53 | 41.39 | 0.00 |
Free Cash Flow |
11.00 | 88.00 | 2.00 | 99.00 | 366.00 | 131.00 | 135.00 | 325.00 | 52.00 | 303.00 |
Working Capital |
935.00 | 636.00 | 676.00 | 734.00 | 783.00 | 1,215.00 | 1,050.00 | 705.00 | 782.00 | 884.00 |
Capital Expenditures |
(163.00) | (153.00) | (138.00) | (128.00) | (100.00) | (62.00) | (159.00) | (137.00) | (82.00) | (82.00) |
Net Current Asset Value |
(3,309.00) | (3,141.00) | (2,247.00) | (2,294.00) | (2,143.00) | (1,225.00) | (1,336.00) | (1,582.00) | (1,502.00) | (1,343.00) |
EV/EBIT |
45.99 | 73.92 | 72.23 | 0.00 | 37.02 | 17.62 | 29.87 | 0.00 | 0.00 | 38.24 |
Capex to Sales |
0.07 | 0.06 | 0.06 | 0.06 | 0.05 | 0.03 | 0.07 | 0.06 | 0.05 | 0.04 |
Price to Operating Income |
29.78 | 52.01 | 55.55 | 0.00 | 27.85 | 15.69 | 24.56 | 0.00 | 0.00 | 29.76 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.19 | 0.17 | 0.18 | 0.17 | 0.18 | 0.19 | 0.18 | 0.21 | 0.79 | 0.17 |
Cash ROIC |
0.16% | 1.41% | 0.04% | 1.85% | 7.42% | 2.54% | 2.79% | 7.20% | 1.48% | 8.19% |
Accounts Receivable Turnover |
4.05 | 4.57 | 4.28 | 4.39 | 5.24 | 6.20 | 5.92 | 7.27 | 7.52 | 7.33 |
Accounts Payable Turnover |
4.03 | 4.66 | 4.65 | 5.41 | 6.45 | 6.23 | 6.41 | 7.05 | 6.33 | 6.33 |
Inventory Turnover |
2.69 | 2.81 | 2.51 | 2.57 | 2.94 | 2.83 | 2.43 | 2.55 | 2.29 | 2.40 |
Average Days of Payables |
94.48 | 70.00 | 76.32 | 54.35 | 59.78 | 61.96 | 50.33 | 52.25 | 54.11 | 60.74 |
Days of Inventory on Hand |
146.46 | 126.04 | 145.56 | 130.34 | 119.81 | 147.08 | 150.03 | 133.06 | 162.60 | 139.41 |
Average Receivables |
570.50 | 567.00 | 501.50 | 459.00 | 403.00 | 385.50 | 370.00 | 290.50 | 242.50 | 254.00 |
Average Payables |
392.50 | 370.00 | 322.00 | 262.00 | 223.50 | 250.50 | 237.50 | 212.00 | 201.50 | 199.50 |
Average Inventory |
586.50 | 615.00 | 596.50 | 551.50 | 489.50 | 551.00 | 627.50 | 585.50 | 556.50 | 525.00 |
Average Assets |
9,309.00 | 8,438.50 | 7,755.00 | 7,064.00 | 6,744.50 | 6,412.50 | 6,076.00 | 5,792.00 | 5,128.00 | 4,569.00 |
Average Common Equity |
3,285.50 | 3,406.00 | 3,488.50 | 3,303.50 | 2,894.00 | 2,986.00 | 3,158.50 | 2,982.50 | 2,386.00 | — |
Columns are period end dates · fundamentals updated 5 Nov 2026