(NGVT) Ingevity - Overview
Sector: Basic Materials | Industry: Specialty Chemicals | Exchange: NYSE (USA) | Market Cap: 2.358m USD | Total Return: 61.4% in 12m
Avg Turnover: 18.3M
EPS Trend: 7.9%
Qual. Beats: 1
Rev. Trend: -99.3%
Qual. Beats: 0
Warnings
High Debt/EBITDA (29.7) with thin interest coverage (-0.9)
Interest Coverage Ratio -0.9 is critical
Below Avwap Earnings
Tailwinds
No distinct edge detected
Ingevity Corporation (NGVT) is a global manufacturer specializing in activated carbon, specialty chemicals, and engineered polymers. The company operates through three core segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies. Its primary markets include automotive emission control systems, infrastructure construction, and industrial applications such as adhesives and lubricants.
The Performance Materials division utilizes hardwood-based activated carbon to capture gasoline vapors, a critical component for meeting environmental regulatory standards in the automotive sector. As a specialty chemicals firm, Ingevity relies on high-barrier-to-entry manufacturing processes and proprietary chemical formulations to maintain its competitive position within the global supply chain.
The business model leverages vertical integration and byproduct utilization, particularly in its Performance Chemicals segment which services the road construction and agrochemical industries. For a deeper look at the fundamental metrics driving this company, you may wish to review the data on ValueRay. Ingevity was spun off from WestRock Company in 2015 and remains headquartered in South Carolina.
- Global shift toward electric vehicles reduces demand for gasoline vapor emission control systems
- Raw material cost volatility in pine chemicals impacts Performance Chemicals segment margins
- Stricter environmental regulations drive adoption of high-performance activated carbon filtration products
- Infrastructure spending levels directly influence revenue performance for the road technologies business unit
| Net Income: -127.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA 10.27 > 1.0 |
| NWC/Revenue: 14.23% < 20% (prev 19.65%; Δ -5.42% < -1%) |
| CFO/TA 0.18 > 3% & CFO 303.8m > Net Income -127.8m |
| Net Debt (1.19b) to EBITDA (40.0m): 29.74 < 3 |
| Current Ratio: 1.42 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.0m) vs 12m ago -1.81% < -2% |
| Gross Margin: 39.30% > 18% (prev 0.35%; Δ 3.89k% > 0.5%) |
| Asset Turnover: 65.36% > 50% (prev 65.67%; Δ -0.31% > 0%) |
| Interest Coverage Ratio: -0.86 > 6 (EBITDA TTM 40.0m / Interest Expense TTM 71.7m) |
| A: 0.10 (Total Current Assets 581.8m - Total Current Liabilities 409.4m) / Total Assets 1.65b |
| B: 0.28 (Retained Earnings 464.7m / Total Assets 1.65b) |
| C: -0.03 (EBIT TTM -61.7m / Avg Total Assets 1.85b) |
| D: 0.29 (Book Value of Equity 463.5m / Total Liabilities 1.61b) |
| Altman-Z'' = 1.68 = BB |
| DSRI: 1.03 (Receivables 151.2m/163.7m, Revenue 1.21b/1.35b) |
| GMI: 0.88 (GM 39.30% / 34.69%) |
| AQI: 0.65 (AQ_t 0.26 / AQ_t-1 0.40) |
| SGI: 0.90 (Revenue 1.21b / 1.35b) |
| TATA: -0.26 (NI -127.8m - CFO 303.8m) / TA 1.65b) |
| Beneish M = -3.66 (Cap -4..+1) = AAA |
As of May 24, 2026, the stock is trading at USD 65.21 with a total of 195,825 shares traded.
Over the past week, the price has changed by -1.35%,
over one month by -10.62%,
over three months by -5.73% and
over the past year by +61.39%.
Ingevity has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy NGVT.
- StrongBuy: 1
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 85.5 | 31.1% |
P/S = 2.0022
P/B = 67.6037
P/EG = 2.411
Revenue TTM = 1.21b USD
EBIT TTM = -61.7m USD
EBITDA TTM = 40.0m USD
Long Term Debt = 1.08b USD (from longTermDebt, last quarter)
Short Term Debt = 135.2m USD (from shortTermDebt, last quarter)
Debt = 1.29b USD (from shortLongTermDebtTotal, last quarter) + Leases 40.4m
Net Debt = 1.19b USD (calculated: Debt 1.29b - CCE 95.4m)
Enterprise Value = 3.55b USD (2.36b + Debt 1.29b - CCE 95.4m)
Interest Coverage Ratio = -0.86 (Ebit TTM -61.7m / Interest Expense TTM 71.7m)
EV/FCF = 14.43x (Enterprise Value 3.55b / FCF TTM 245.8m)
FCF Yield = 6.93% (FCF TTM 245.8m / Enterprise Value 3.55b)
FCF Margin = 20.29% (FCF TTM 245.8m / Revenue TTM 1.21b)
Net Margin = -10.55% (Net Income TTM -127.8m / Revenue TTM 1.21b)
Gross Margin = 39.30% ((Revenue TTM 1.21b - Cost of Revenue TTM 735.3m) / Revenue TTM)
Gross Margin QoQ = 45.12% (prev 34.42%)
Tobins Q-Ratio = 2.15 (Enterprise Value 3.55b / Total Assets 1.65b)
Interest Expense / Debt = 5.58% (Interest Expense 71.7m / Debt 1.29b)
Taxrate = 22.52% (6.80m / 30.2m)
NOPAT = -47.8m (EBIT -61.7m * (1 - 22.52%)) [loss with tax shield]
Current Ratio = 1.42 (Total Current Assets 581.8m / Total Current Liabilities 409.4m)
Debt / Equity = 33.04 (Debt 1.29b / totalStockholderEquity, last quarter 38.9m)
Debt / EBITDA = 29.74 (Net Debt 1.19b / EBITDA 40.0m)
Debt / FCF = 4.84 (Net Debt 1.19b / FCF TTM 245.8m)
Total Stockholder Equity = 81.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -6.90% (Net Income -127.8m / Total Assets 1.65b)
RoE = -156.1% (Net Income TTM -127.8m / Total Stockholder Equity 81.8m)
RoCE = -5.30% (EBIT -61.7m / Capital Employed (Equity 81.8m + L.T.Debt 1.08b))
RoIC = -3.65% (negative operating profit) (NOPAT -47.8m / Invested Capital 1.31b)
WACC = 8.87% (E(2.36b)/V(3.64b) * Re(11.35%) + D(1.29b)/V(3.64b) * Rd(5.58%) * (1-Tc(0.23)))
Discount Rate = 11.35% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 20.0 | Cagr: -0.25%
[DCF] Terminal Value 76.30% ; FCFF base≈185.5m ; Y1≈212.7m ; Y5≈313.0m
[DCF] Fair Price = 89.87 (EV 4.31b - Net Debt 1.19b = Equity 3.12b / Shares 34.8m; r=8.87% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 7.94 | EPS CAGR: 1.59% | SUE: 0.99 | # QB: 1
Revenue Correlation: -99.25 | Revenue CAGR: -13.48% | SUE: 0.12 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.38 | Chg30d=-7.16% | Revisions=-20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=1.52 | Chg30d=-5.59% | Revisions=-20% | Analysts=3
EPS current Year (2026-12-31): EPS=4.93 | Chg30d=+0.31% | Revisions=+0% | GrowthEPS=+8.3% | GrowthRev=-14.8%
EPS next Year (2027-12-31): EPS=5.75 | Chg30d=-3.76% | Revisions=+0% | GrowthEPS=+16.7% | GrowthRev=-2.1%
[Analyst] Revisions Ratio: -20%