Revenue has rebounded to $430.8M, yet gross margin has eroded from 17.9% in Q2 2024 to 2.6% in Q3 2026 and operating income has swung to an $8.0M loss, indicating weakened pricing power or input-cost absorption.
AdvanSix Inc. (ASIX) annual income statement — 12-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 |
|---|
| Sales/Revenue | 1.56B | 1.52B | 1.52B | 1.53B | 1.95B | 1.68B | 1.16B | 1.3B | 1.51B | 1.48B | 1.19B | 1.33B | 1.79B |
| Revenue Growth % | 2.96% | 0.31% | -1.05% | -21.18% | 15.49% | 45.49% | -10.75% | -14.36% | 2.7% | 23.81% | -10.37% | -25.75% | - |
| Cost of Goods Sold | 1.47B | 1.35B | 1.36B | 1.37B | 1.63B | 1.41B | 1.02B | 1.16B | 1.34B | 1.25B | 1.08B | 1.18B | 1.61B |
| COGS % of Revenue | - | 88.59% | 89.92% | 89.24% | 83.84% | 83.73% | 88.45% | 89.56% | 88.48% | 84.67% | 90.97% | 88.73% | 89.76% |
| Gross Profit | 87.66M | 173.64M | 152.94M | 165.09M | 314.48M | 274.12M | 133.75M | 135.47M | 174.49M | 226.18M | 107.63M | 149.76M | 183.34M |
| Gross Margin % | 5.62% | 11.41% | 10.08% | 10.76% | 16.16% | 16.27% | 11.55% | 10.44% | 11.52% | 15.33% | 9.03% | 11.27% | 10.24% |
| Gross Profit Growth % | - | 13.54% | -7.36% | -47.5% | 14.72% | 104.95% | -1.27% | -22.36% | -22.85% | 110.15% | -28.13% | -18.32% | - |
| Operating Expenses | 109.76M | 106.13M | 94.02M | 95.54M | 87.75M | 82.98M | 133.75M | 75.38M | 81.22M | 72.81M | 53.75M | 52.4M | 53.93M |
| OpEx % of Revenue | - | 6.97% | 6.2% | 6.23% | 4.51% | 4.93% | 11.55% | 5.81% | 5.36% | 4.94% | 4.51% | 3.94% | 3.01% |
| Selling, General & Admin | 100.5M | 97.42M | 94.02M | 95.54M | 87.75M | 82.98M | 70.87M | 75.38M | 81.22M | 72.81M | 53.75M | 52.4M | 53.93M |
| SG&A % of Revenue | - | 6.4% | 6.2% | 6.23% | 4.51% | 4.93% | 6.12% | 5.81% | 5.36% | 4.94% | 4.51% | 3.94% | 3.01% |
| Research & Development | 0 | 8.7M | 0 | 0 | 0 | 0 | 0 | 13.9M | 14.8M | 12.9M | 13.76M | 12.81M | 13M |
| R&D % of Revenue | - | 0.57% | - | - | - | - | - | 1.07% | 0.98% | 0.87% | 1.16% | 0.96% | 0.73% |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 62.88M | -13.9M | -7.5M | -8.73M | -102K | 2.88M | 2.63M |
| Operating Income | -22.1M | 67.52M | 58.91M | 69.55M | 226.73M | 191.14M | 0 | 60.1M | 93.26M | 153.37M | 53.88M | 97.36M | 129.41M |
| Operating Margin % | -1.42% | 4.44% | 3.88% | 4.54% | 11.65% | 11.35% | - | 4.63% | 6.16% | 10.4% | 4.52% | 7.32% | 7.23% |
| Operating Income Growth % | - | 14.6% | -15.29% | -69.32% | 18.62% | - | -100% | -35.56% | -39.19% | 184.66% | -44.66% | -24.77% | - |
| EBITDA | 40.76M | 147.25M | 135.09M | 142.56M | 296.08M | 256.48M | 123.66M | 116.92M | 146.5M | 201.82M | 94.21M | 133.77M | 163.02M |
| EBITDA Margin % | 2.61% | 9.67% | 8.9% | 9.3% | 15.22% | 15.22% | 10.68% | 9.01% | 9.67% | 13.68% | 7.91% | 10.06% | 9.11% |
| EBITDA Growth % | -74.92% | 9.01% | -5.24% | -51.85% | 15.44% | 107.41% | 5.76% | -20.19% | -27.41% | 114.23% | -29.58% | -17.94% | - |
| D&A (Non-Cash Add-back) | 62.86M | 79.74M | 76.18M | 73.01M | 69.35M | 65.34M | 60.83M | 56.83M | 53.23M | 48.45M | 40.33M | 36.41M | 33.61M |
| EBIT | -10.45M | 62.91M | 56.89M | 76.71M | 228.57M | 190.14M | 62.83M | 58.8M | 93.26M | 154.39M | 54.19M | 100.24M | 132.05M |
| Net Interest Income | -9.72M | -8.48M | -11.31M | -7.49M | -2.78M | -5.02M | -7.79M | 0 | -7.49M | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 9.72M | 8.48M | 11.31M | 7.49M | 2.78M | 5.02M | 7.79M | - | 7.49M | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.93M | -13.08M | -13.34M | -327K | -940K | -6.02M | 55.03M | -6.75M | -7.5M | -9.76M | -102K | 2.88M | 2.63M |
| Pretax Income | -20.17M | 54.43M | 45.58M | 69.22M | 225.79M | 185.12M | 55.03M | 53.35M | 85.77M | 144.63M | 53.77M | 100.24M | 132.05M |
| Pretax Margin % | -1.29% | 3.58% | 3% | 4.51% | 11.61% | 10.99% | 4.75% | 4.11% | 5.66% | 9.8% | 4.51% | 7.54% | 7.38% |
| Income Tax | -2.44M | 5.14M | 1.43M | 14.6M | 53.91M | 45.33M | 8.96M | 12M | 19.52M | -2.07M | 19.63M | 36.46M | 48.19M |
| Effective Tax Rate % | 12.12% | 9.45% | 3.13% | 21.09% | 23.87% | 24.48% | 16.27% | 22.5% | 22.76% | -1.43% | 36.5% | 36.37% | 36.49% |
| Net Income | -17.73M | 49.29M | 44.15M | 54.62M | 171.89M | 139.79M | 46.08M | 41.35M | 66.24M | 146.7M | 34.15M | 63.78M | 83.86M |
| Net Margin % | -1.14% | 3.24% | 2.91% | 3.56% | 8.83% | 8.3% | 3.98% | 3.19% | 4.37% | 9.94% | 2.87% | 4.8% | 4.68% |
| Net Income Growth % | -122.92% | 11.64% | -19.18% | -68.22% | 22.96% | 203.39% | 11.44% | -37.58% | -54.84% | 329.61% | -46.46% | -23.95% | - |
| Net Income (Continuing) | -17.73M | 49.29M | 44.15M | 54.62M | 171.89M | 139.79M | 46.08M | 41.35M | 66.24M | 146.7M | 34.15M | 63.78M | 83.86M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.64 | 1.80 | 1.62 | 1.95 | 5.92 | 4.81 | 1.64 | 1.43 | 2.14 | 4.72 | 1.12 | 2.08 | 2.74 |
| EPS Growth % | -123.22% | 11.11% | -16.92% | -67.06% | 23.08% | 193.29% | 14.69% | -33.18% | -54.66% | 321.43% | -46.15% | -24.09% | - |
| EPS (Basic) | - | 1.83 | 1.65 | 2.00 | 6.15 | 4.97 | 1.64 | 1.47 | 2.20 | 4.81 | 1.12 | 2.08 | 2.74 |
| Diluted Shares Outstanding | 27.6M | 27.33M | 27.25M | 28.01M | 29.03M | 29.05M | 28.16M | 28.9M | 30.98M | 31.09M | 30.5M | 30.62M | 30.62M |
| Basic Shares Outstanding | 27.05M | 26.9M | 26.83M | 27.3M | 27.97M | 28.15M | 28.05M | 28.12M | 30.17M | 30.48M | 30.48M | 30.48M | 30.49M |
| Dividend Payout Ratio | - | 34.85% | 38.81% | 30.49% | 8.77% | 2.52% | - | - | - | - | 788.79% | - | - |
Quick answers to the most common questions about buying ASIX stock.
For fiscal year 2025, AdvanSix Inc. (ASIX) reported total revenue of $1.52B. This represents a 15.0% decline compared to $1.79B in 2014.
AdvanSix Inc. (ASIX) is profitable, generating $49.3M in net income for the fiscal year ending 2025 with a net profit margin of 3.2%.
AdvanSix Inc. (ASIX) reported an operating income of $67.5M, resulting in an operating profit margin of 4.4%. This margin reflects the operational efficiency of the business before interest and taxes.
AdvanSix Inc. (ASIX) generated $173.6M in gross profit for the year, representing a gross profit margin of 11.4%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Volatile specialty chemical margins
Metrics are mathematically derived from official filings.
Revenue Rebounding Amid Volatility
Based on reported figures, AdvanSix's revenue grew 15.0% year over year to $430.8M in the latest quarter, following a 2.7% gain in the prior period, though the 10-quarter series shows no sustained acceleration trend.
The quarterly revenue series oscillates between roughly $330M and $450M, indicating that top-line movement is driven more by pricing and product-mix swings than by a durable volume expansion. The latest 15.0% jump may reflect a short-term price recovery rather than structural growth, and investors should monitor whether volumes confirm the trend in coming quarters. The steep decline from the Q2 2024 peak of $453.5M suggests the business remains highly cyclical.
Gross Margins Compressing Toward Break-Even
According to reported quarterly results, AdvanSix's gross margin fell from 17.9% in Q2 2024 to 2.6% in Q3 2026, indicating a substantial erosion of pricing power or input-cost absorption.
Gross margin has contracted sharply over the 10-quarter window, with intermittent recoveries to the 14% range in 2025 that did not hold. This pattern suggests the company's cost base is exposed to feedstock price swings it cannot fully pass through to customers. Relative to peers such as MEOH, which reports a 25.3% gross margin, AdvanSix appears to have materially weaker structural pricing power.
Operating Losses Despite Revenue Stability
Based on EDBL-style reporting conventions applied here, AdvanSix moved from positive operating income of $56.9M in Q2 2024 to an operating loss of $8.0M in Q3 2026 while SG&A stayed roughly flat near $19-28M.
Because SG&A has remained relatively fixed, the operating deterioration is driven almost entirely by gross profit compression rather than overhead growth. This implies negative operating leverage: each dollar of revenue is generating less and less gross profit, and the fixed cost base is not being diluted. Investors should treat the cost base as a source of persistent pressure if gross margins do not recover.
Net Income Swings Driven by Operations
As reported in financial statements, AdvanSix's diluted EPS swung from $1.43 in Q2 2024 to a loss of $0.28 in Q3 2026, with stock-based compensation remaining modest at under $2.5M per quarter.
Net income tracks operating income closely, suggesting that the earnings volatility reflects core operating performance rather than large non-operating items or tax anomalies. Stock-based compensation is small relative to the swings in earnings and does not appear to be masking underlying weakness. The quality question is therefore less about accounting and more about whether the operating base can return to sustained profitability.
Cyclical Recovery May Prove Temporary
Based on the latest reported quarters, the 15.0% revenue rebound may not translate into earnings, as gross margin remains at 2.6% and operating margin is -1.9%.
The strongest bear argument is that the recent revenue uptick is price-driven and temporary, while cost pressures keep margins near zero. Peer data showing negative operating margins at KRO and TROX reinforces the view that sector-wide conditions remain difficult. Investors should be cautious about extrapolating the top-line rebound into a durable earnings recovery without evidence of margin repair.