Ashland Inc. (ASH) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Chemicals - Specialty
EV/EBITDA
↑
N/A
—
5yr avg: 15.69
30Y Low0.3·High22.2
P/FCF
↑
N/A
—
5yr avg: 29.41
30Y Low1.6·High61.8
P/B Ratio
↓
1.32
↓-15% vs avg
5yr avg: 1.54
30Y Low0.3·High2.0
ROE
↓
-35.4%
↑-1318% vs avg
5yr avg: 2.9%
30Y Low-35%·High62%
Debt/EBITDA
↑
N/A
—
5yr avg: 4.17
30Y Low0.2·High9.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ASH Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Ashland Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.5B | $2.2B | $4.3B | $4.4B | $5.3B | $5.4B | $4.3B | $4.9B | $5.4B | $4.1B | $3.6B |
| Enterprise Value | $3.9B | $3.6B | $5.5B | $5.5B | $6.1B | $7.3B | $5.9B | $6.3B | $7.6B | $6.3B | $5.1B |
| P/E Ratio → | -2.97 | — | 25.73 | 24.68 | 5.79 | 24.35 | — | 9.60 | 47.11 | 4061.49 | — |
| P/S Ratio | 1.37 | 1.21 | 2.06 | 2.01 | 2.22 | 2.58 | 2.15 | 2.26 | 2.07 | 1.76 | 1.19 |
| P/B Ratio | 1.32 | 1.16 | 1.52 | 1.42 | 1.65 | 1.98 | 1.42 | 1.36 | 1.58 | 1.19 | 1.13 |
| P/FCF | — | — | 15.87 | 60.42 | — | 11.95 | 61.80 | 55.79 | 38.34 | 24.42 | 8.02 |
| P/OCF | 26.58 | 23.45 | 10.58 | 18.15 | — | 9.71 | 21.31 | 20.14 | 18.07 | 10.59 | 5.29 |
P/E links to full P/E history page with 30-year chart
ASH EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.95 | 2.61 | 2.49 | 2.53 | 3.47 | 2.91 | 2.93 | 2.94 | 2.73 | 1.68 |
| EV / EBITDA | — | — | 22.24 | 13.14 | 10.55 | 16.81 | — | 17.33 | 20.06 | 17.97 | 19.93 |
| EV / EBIT | — | — | 190.22 | 25.48 | 22.59 | 35.93 | — | 59.90 | 59.86 | 41.77 | — |
| EV / FCF | — | — | 20.13 | 74.68 | — | 16.11 | 83.73 | 72.29 | 54.30 | 38.00 | 11.32 |
ASH Profitability
Margins and return-on-capital ratios measuring operating efficiency
Ashland Inc. earns an operating margin of -42.5%, below the Basic Materials sector average of 9.8%. Operating margins have compressed from 7.9% to -42.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -35.4% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.1% | 30.1% | 29.2% | 30.5% | 34.7% | 31.7% | 29.7% | 30.3% | 33.3% | 31.6% | 29.4% |
| Operating Margin | -42.5% | -42.5% | -1.2% | 7.9% | 13.9% | 9.1% | -22.9% | 4.0% | 3.9% | 2.1% | -1.7% |
| Net Profit Margin | -46.3% | -46.3% | 8.0% | 8.1% | 38.8% | 10.4% | -25.2% | 23.5% | 4.4% | 0.0% | -1.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -35.4% | -35.4% | 5.7% | 5.6% | 31.0% | 7.6% | -15.4% | 14.5% | 3.3% | 0.0% | -0.9% |
| ROA | -16.5% | -16.5% | 2.9% | 2.9% | 14.5% | 3.3% | -7.2% | 6.5% | 1.4% | 0.0% | -0.3% |
| ROIC | -15.9% | -15.9% | -0.5% | 3.2% | 5.8% | 3.1% | -7.2% | 1.2% | 1.4% | 0.7% | -0.7% |
| ROCE | -16.6% | -16.6% | -0.5% | 3.1% | 5.9% | 3.3% | -7.3% | 1.3% | 1.4% | 0.6% | -0.6% |
ASH Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $1.4B ($1.6B total debt minus $215M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.83 | 0.83 | 0.51 | 0.47 | 0.43 | 0.76 | 0.66 | 0.47 | 0.74 | 0.83 | 0.79 |
| Debt / EBITDA | — | — | 5.92 | 3.51 | 2.41 | 4.82 | — | 4.59 | 6.67 | 8.03 | 9.82 |
| Net Debt / Equity | — | 0.71 | 0.41 | 0.34 | 0.23 | 0.69 | 0.51 | 0.40 | 0.66 | 0.66 | 0.47 |
| Net Debt / EBITDA | — | — | 4.71 | 2.51 | 1.28 | 4.34 | — | 3.95 | 5.90 | 6.42 | 5.82 |
| Debt / FCF | — | — | 4.26 | 14.26 | — | 4.16 | 21.93 | 16.49 | 15.96 | 13.57 | 3.31 |
| Interest Coverage | -11.84 | -11.84 | 0.55 | 3.75 | 4.06 | 2.79 | -5.37 | 0.92 | 1.09 | 0.67 | -0.68 |
ASH Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Ashland Inc.'s current ratio of 2.85x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.51x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 3.30x to 2.85x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.85 | 2.85 | 2.44 | 3.30 | 3.20 | 1.84 | 1.90 | 1.89 | 1.59 | 1.97 | 2.33 |
| Quick Ratio | 1.51 | 1.51 | 1.33 | 1.93 | 2.06 | 1.33 | 1.28 | 1.10 | 0.98 | 1.31 | 1.90 |
| Cash Ratio | 0.51 | 0.51 | 0.61 | 0.91 | 1.17 | 0.22 | 0.56 | 0.31 | 0.27 | 0.58 | 0.82 |
| Asset Turnover | — | 0.40 | 0.37 | 0.37 | 0.38 | 0.32 | 0.29 | 0.30 | 0.31 | 0.27 | 0.30 |
| Inventory Turnover | 2.24 | 2.24 | 2.74 | 2.43 | 2.48 | 3.05 | 2.80 | 2.51 | 2.60 | 2.49 | 3.96 |
| Days Sales Outstanding | — | 48.43 | 41.98 | 56.31 | 61.37 | 63.80 | 78.94 | 81.73 | 96.01 | 96.74 | 61.42 |
ASH Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Ashland Inc. returns 7.0% to shareholders annually — split between a 3.0% dividend yield and 4.0% buyback yield.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.0% | 3.4% | 1.8% | 1.7% | 1.3% | 1.3% | 1.5% | 1.3% | 1.1% | 1.9% | 2.7% |
| Payout Ratio | — | — | 46.2% | 42.7% | 7.6% | 31.8% | — | 12.7% | 52.6% | 7700.0% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 3.9% | 4.1% | 17.3% | 4.1% | — | 10.4% | 2.1% | 0.0% | — |
| FCF Yield | — | — | 6.3% | 1.7% | — | 8.4% | 1.6% | 1.8% | 2.6% | 4.1% | 12.5% |
| Buyback Yield | 4.0% | 4.5% | 8.7% | 6.8% | 3.8% | 8.3% | 0.0% | 4.1% | 0.2% | 0.4% | 14.0% |
| Total Shareholder Yield | 7.0% | 8.0% | 10.5% | 8.5% | 5.1% | 9.6% | 1.5% | 5.4% | 1.3% | 2.3% | 16.7% |
| Shares Outstanding | — | $46M | $50M | $54M | $56M | $61M | $61M | $63M | $64M | $62M | $63M |
Peer Comparison
Compare ASH with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ASHYou | $2B | -3.0 | — | — | 30.1% | -42.5% | -35.4% | -15.9% | — |
 RPM | $13B | 19.1 | 14.3 | 24.4 | 41.4% | 12.3% | 25.5% | 13.3% | 2.7 |
 IFF | $21B | -56.8 | 13.9 | 82.7 | 30.9% | 9.2% | -2.7% | 3.5% | 3.4 |
 FUL | $3B | 22.2 | 9.0 | 27.2 | 31.7% | 11.5% | 7.9% | 7.8% | 3.5 |
 AVNT | $3B | 42.5 | 12.5 | 17.8 | 32.5% | 6.2% | 3.5% | 3.9% | 4.9 |
 BCPC | $5B | 34.0 | 20.1 | 29.9 | 35.7% | 21.1% | 12.9% | 12.2% | 0.7 |
 IOSP | $2B | 16.6 | 8.4 | 21.9 | 27.7% | 8.8% | 8.9% | 10.7% | 0.4 |
 EMN | $9B | 18.5 | 9.1 | 20.4 | 21.1% | 10.6% | 8.0% | 6.7% | 3.5 |
 HUN | $3B | -9.5 | 19.9 | 22.7 | 13.2% | -0.7% | -9.0% | -0.6% | 11.0 |
 TROX | $2B | -3.4 | 17.8 | — | 9.3% | -0.7% | -29.0% | -0.3% | 12.8 |
 CBT | $4B | 13.7 | 6.8 | 11.0 | 25.3% | 16.7% | 20.1% | 17.4% | 1.6 |
| Basic Materials Median | — | 22.9 | 11.4 | 27.5 | 31.7% | 9.8% | 1.0% | 4.4% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonASH — Frequently Asked Questions
Quick answers to the most common questions about buying ASH stock.
What is Ashland Inc.'s P/E ratio?
Ashland Inc.'s current P/E ratio is -3.0x. The historical average is 15.4x.
What is Ashland Inc.'s ROE?
Ashland Inc.'s return on equity (ROE) is -35.4%. The historical average is 8.2%.
Is ASH stock overvalued?
Based on historical data, Ashland Inc. is trading at a P/E of -3.0x. Compare with industry peers and growth rates for a complete picture.
What is Ashland Inc.'s dividend yield?
Ashland Inc.'s current dividend yield is 3.03%.
What are Ashland Inc.'s profit margins?
Ashland Inc. has 30.1% gross margin and -42.5% operating margin.