Ecovyst Inc.
ECVT Basic Materials Specialty Chemicals
In the quarter to June 2026, revenue grew 42.0%, EPS grew 40.0%, free cash flow fell 66.6% and total debt fell 41.9%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Ecovyst Inc. (ECVT) Altman Z-score
Ecovyst Inc.'s Altman Z-score for fiscal 2025 is 1.68, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.68 | 0.72 |
| FY2024 | 0.96 | (0.08) |
| FY2023 | 1.04 | (0.08) |
| FY2022 | 1.13 | 0.15 |
| FY2021 | 0.97 | 0.15 |
| FY2020 | 0.82 | (0.02) |
| FY2019 | 0.84 | (0.10) |
| FY2018 | 0.94 | 0.03 |
| FY2017 | 0.91 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.16 | — | 0.19 | |
| Retained earnings / total assets | (0.20) | — | −0.28 | |
| EBIT / total assets | 0.05 | — | 0.17 | |
| Market value of equity / total liabilities | 1.71 | — | 1.02 | |
| Sales / total assets | 0.57 | — | 0.57 | |
| Altman Z-score | Distress zone | 1.68 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.70 | ||
Z and Z″ put Ecovyst Inc. in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| LWLG Lightwave Logic Inc. compare | 52.3× |
| ODC Oil-Dri Corporation Of America compare | 9.4× |
| SCL Stepan Company compare | 2.5× |
| MTX Minerals Technologies Inc. compare | 2.5× |
| KOP Koppers Holdings Inc. compare | 2.2× |
| ECVT Ecovyst Inc. | 1.7× |
| KRO Kronos Worldwide Inc compare | 1.4× |
| CC The Chemours Company compare | 1.4× |
| MATV Mativ Holdings, Inc. compare | 0.7× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets