Logo

NGVT

Ingevity Corporation

NGVT

Ingevity Corporation • NYSE
$52.23 ▲ 0.12% (+0.06)
Market Cap $1.90 B
52w High $60.77
52w Low $28.49
Dividend Yield 0%
P/E -5.25
Volume 99.46K
Outstanding Shares 36.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $333.1M ▼ $51.1M ▼ $43.5M ▲ 13.059% ▲ $1.2 ▲ $106.2M ▲
Q2-2025 $365.1M ▲ $52M ▲ $-146.5M ▼ -40.126% ▼ $-4.02 ▼ $-97.1M ▼
Q1-2025 $284M ▼ $50.8M ▲ $20.5M ▲ 7.218% ▲ $0.56 ▲ $72.5M ▲
Q4-2024 $298.8M ▼ $46.7M ▲ $16.6M ▲ 5.556% ▲ $0.46 ▲ $59.5M ▲
Q3-2024 $376.9M $45.4M $-107.2M -28.443% $-2.95 $-86.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $83.4M ▲ $1.834B ▼ $1.696B ▼ $138.1M ▲
Q2-2025 $76.9M ▲ $1.878B ▼ $1.757B ▼ $120.7M ▼
Q1-2025 $71.5M ▲ $2.056B ▲ $1.821B ▼ $234.6M ▲
Q4-2024 $68M ▼ $2.023B ▼ $1.827B ▼ $195.2M ▼
Q3-2024 $135.5M $2.212B $1.997B $214.5M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $40.8M ▲ $129.7M ▲ $-28.1M ▼ $-94.8M ▼ $7.3M ▼ $117.8M ▲
Q2-2025 $-146.5M ▼ $79M ▲ $-2.8M ▲ $-63M ▼ $16.2M ▲ $66.8M ▲
Q1-2025 $20.5M ▲ $25.4M ▼ $-11.5M ▲ $-11M ▲ $4.3M ▲ $15.4M ▼
Q4-2024 $16.6M ▲ $64.5M ▲ $-28M ▼ $-97.6M ▼ $-66.9M ▼ $39.6M ▲
Q3-2024 $-107.2M $46.5M $-17.4M $-6.3M $28.2M $28.5M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Performance Chemicals
Performance Chemicals
 $180.00M ▲$100.00M ▼$100.00M ▲$170.00M ▲
Performance Materials
Performance Materials
 $150.00M ▲$160.00M ▲$150.00M ▼$150.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue grew steadily earlier in the period but has slipped in the last two years, moving back toward prior levels rather than continuing higher. Profitability used to be solid, but recent results show clear pressure: earnings have turned into losses, and there are signs of sizable non‑cash or one‑off charges weighing on reported profit. Core operating profit has been more stable than bottom‑line earnings, suggesting the underlying business still generates value, but at thinner margins and with less room for error. Overall, the income statement tells a story of a once-healthy specialty chemicals franchise now working through a tougher phase marked by weaker demand, pricing or mix pressure, and restructuring or impairment impacts.

Balance Sheet

Balance Sheet The balance sheet is workable but tight. Debt is high relative to the company’s equity base, and that equity cushion has shrunk materially in the most recent year, likely reflecting the cumulative impact of losses and writedowns. Total assets have drifted down from their peak, and cash on hand is modest compared with the company’s borrowing. This mix points to a leveraged position that can be manageable as long as cash generation holds up, but leaves less flexibility if conditions worsen or if large investments are needed. Strengthening the capital structure and rebuilding equity will likely be important long‑term priorities.

Cash Flow

Cash Flow Despite the earnings volatility, the company is still generating positive cash from its operations, though the trend over several years has been downward. Free cash flow remains positive, even after ongoing investment in plants and equipment, but it is meaningfully lower than it was earlier in the period. Capital spending has been fairly consistent, so the squeeze appears to be coming primarily from softer business performance rather than big new expansion bets. In practical terms, the business continues to fund itself and its investments, yet with a slimmer cash cushion and less capacity to absorb shocks or finance aggressive growth without external support.

Competitive Edge

Competitive Edge Competitively, Ingevity sits in attractive, specialized corners of the chemicals market rather than in bulk commodities. It has a strong position in activated carbon for automotive vapor emission control, warm‑mix asphalt additives, pine‑based specialty chemicals, and caprolactone polymers. These niches are supported by deep technical know‑how, long relationships with automakers and industrial customers, a meaningful patent and process portfolio, and a sustainability‑focused product set that aligns with tightening environmental standards. The flip side is exposure to changing auto and energy markets, regulatory shifts, and customer consolidation. Overall, the company still appears to enjoy a differentiated position, but must continuously adapt as end markets evolve, especially with the gradual shift toward electric vehicles and changing infrastructure priorities.

Innovation and R&D

Innovation and R&D Innovation is a clear bright spot. Ingevity has built families of products—such as Nuchar activated carbon, Evotherm road additives, pine‑based crop and oilfield additives, and Capa biodegradable polymers—that solve specific technical and environmental problems for customers. Its work in low‑temperature paving, bio‑based chemistries, and compostable or biodegradable plastics taps into long‑term trends toward lower emissions and more sustainable materials. The push into advanced polymer technologies and the exploratory work around battery materials through its Nexeon investment show an effort to move into newer, higher‑growth applications. The key questions are execution and scale: how quickly these innovations can offset pressure in more mature segments, and how effectively the company can convert technical wins into durable, profitable growth.

Summary

Ingevity’s financial profile shows a company with solid industrial roots and differentiated technologies, but currently in a more challenging phase. Revenue has softened from its recent peak, earnings have swung to losses, and leverage has risen as equity has eroded. At the same time, the core operations still generate cash, and the business retains strong positions in specialized, regulation‑driven and sustainability‑oriented niches. Its innovation pipeline—especially in advanced polymers, bio‑based solutions, and cleaner infrastructure—provides credible avenues for future growth. The overall picture is of a company with real technical strengths and a defensible niche franchise, balancing near‑term financial strain and balance‑sheet tightness against longer‑term opportunities tied to environmental regulation, materials innovation, and portfolio reshaping.

NEWS

November 11, 2025 · 7:26 AM UTC

CHASM and Ingevity Expand Partnership Through License Agreement to Secure Local CNT Supply Chain for North American and European EV Battery Gigafactories

Read more

November 6, 2025 · 12:58 PM UTC

Ingevity announces virtual strategic portfolio update for investors on December 8

Read more

November 5, 2025 · 4:15 PM UTC

Ingevity reports third quarter 2025 financial results

Read more

October 23, 2025 · 4:15 PM UTC

Ingevity announces dates for third quarter 2025 earnings release and webcast

Read more

October 23, 2025 · 6:30 AM UTC

Ingevity names Ruth Castillo as senior vice president and president of Performance Materials

Read more