The Chemours Company (CC) vs Ingevity Corporation (NGVT)

The Chemours Company and Ingevity Corporation are both Specialty Chemicals companies. Ingevity Corporation is the larger, with a market value of $2.5B against $2.1B — 1.2× the size. The Chemours Company has negative trailing earnings, so its P/E is not meaningful; Ingevity Corporation trades at 47.4×. Ingevity Corporation grew revenue faster over the last twelve months: 10.6% against −0.89%. Ingevity Corporation has the higher net margin (4.65% vs −5.24%) and the higher return on invested capital (9.33% vs −2.22%). Across the 19 metrics below, Ingevity Corporation leads on 12 and The Chemours Company on 7.

Valuation

Metric CC NGVT Specialty Chemicals median
P/E n/m 47.40 24.83
P/S 0.38 2.18 1.46
P/B n/m 54.00 1.76
Price to free cash flow 10.03 16.35 19.84
EV/EBITDA 24.83 14.40 13.18
EV/Sales 0.93 2.95 1.84
Earnings yield (13.21%) 2.11% 2.11%
Free cash flow yield 9.97% 6.12% 2.29%

Profitability

Metric CC NGVT Specialty Chemicals median
Gross margin 15.28% 41.13% 29.23%
Operating margin (1.93%) 11.83% 3.63%
Net margin (5.24%) 4.65% 2.89%
Free cash flow margin 3.76% 13.35% 3.78%
Return on equity (318.32%) 64.44% 3.62%
Return on assets (4.15%) 3.16% 0.35%
Return on invested capital (2.22%) 9.33% 2.75%

Growth

Metric CC NGVT Specialty Chemicals median
Revenue growth (TTM) (0.89%) 10.63% 4.51%
EPS growth (last fiscal year) (549.12%) 61.10% —
Revenue growth, 5-year CAGR 3.17% (0.81%) 6.30%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CC NGVT Specialty Chemicals median
Debt to equity (80.67) 22.52 0.54
Current ratio 1.66 1.61 1.94
Net debt to EBITDA 12.09 4.40 2.03

Dividend

Metric CC NGVT Specialty Chemicals median
Dividend yield 3.32% — 1.69%
Payout ratio 0.18 0.00 0.25

Size

Metric CC NGVT Specialty Chemicals median
Market cap 2.14b 2.47b 2.43b

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