Minerals Technologies Inc. (MTX) vs Ingevity Corporation (NGVT)

Minerals Technologies Inc. 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. Minerals Technologies Inc. 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 4.06%. Ingevity Corporation has the higher net margin (4.65% vs −3.13%) and the higher return on invested capital (9.33% vs −0.82%). Across the 20 metrics below, Ingevity Corporation leads on 15 and Minerals Technologies Inc. on 5.

Valuation

Metric MTX NGVT Specialty Chemicals median
P/E n/m 47.40 24.83
P/S 0.97 2.18 1.46
P/B 1.32 54.00 1.76
Price to free cash flow 16.39 16.35 19.84
EV/EBITDA 40.84 14.40 13.18
EV/Sales 1.26 2.95 1.84
Earnings yield (3.24%) 2.11% 2.11%
Free cash flow yield 6.10% 6.12% 2.29%

Profitability

Metric MTX NGVT Specialty Chemicals median
Gross margin 24.52% 41.13% 29.23%
Operating margin (1.34%) 11.83% 3.63%
Net margin (3.13%) 4.65% 2.89%
Free cash flow margin 5.92% 13.35% 3.78%
Return on equity (4.12%) 64.44% 3.62%
Return on assets (1.93%) 3.16% 0.35%
Return on invested capital (0.82%) 9.33% 2.75%

Growth

Metric MTX NGVT Specialty Chemicals median
Revenue growth (TTM) 4.06% 10.63% 4.51%
EPS growth (last fiscal year) (111.41%) 61.10% —
Revenue growth, 5-year CAGR 5.38% (0.81%) 6.30%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MTX NGVT Specialty Chemicals median
Debt to equity 0.61 22.52 0.54
Current ratio 1.43 1.61 1.94
Net debt to EBITDA 4.54 4.40 2.03

Dividend

Metric MTX NGVT Specialty Chemicals median
Dividend yield 0.57% — 1.69%
Payout ratio 0.07 0.00 0.25

Size

Metric MTX NGVT Specialty Chemicals median
Market cap 2.07b 2.47b 2.43b

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