Ingevity CorpIngevity Corp
Ingevity Corp

Ingevity Corp

NGVT
Materials·Chemicals

Ingevity Corp. engages in the manufacture of specialty chemicals and carbon materials. It operates through the following segments: Performance Chemicals, Performance Materials and Advanced Polymer Technologies. The Performance Materials segment consists of automotive technologies and process purifications product families. Automotive technologies produce automotive carbon products used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. Process purifications produce a number of activated carbon products for food, water, beverage and chemical purification applications. The Performance Chemicals segment primarily addresses applications in three product families: pavement technologies, oilfield technologies, and industrial specialties. The Advanced Polymer Technologies segment produces caprolactone and caprolactone-based polymers for use in coatings, resins, elastomers, adhesives, bioplastics, and medical devices. The company was founded on March 27, 2015 and is headquartered in North Charleston, SC.

South Carolina; U.S.A
Market cap
No dataNo data
Revenue
$1.2B−17.0% YoY
Net income
$-167.1M+61.2% YoY
Free cash flow
$273.5M+436.3% YoY

Market

Listed stock
NGVTPriceNYSE
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Financial performance

Revenue
$1.2B−17.0% YoY
Operating income
$418.7M+13.5% YoY
Net income
$-167.1M+61.2% YoY
Free cash flow
$273.5M+436.3% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $1.4B, 2022 $1.7B, 2023 $1.7B, 2024 $1.4B, 2025 $1.2B. Operating income: 2021 $422.2M, 2022 $452.6M, 2023 $396.8M, 2024 $369M, 2025 $418.7M. Net income: 2021 $118.1M, 2022 $211.6M, 2023 $-5.4M, 2024 $-430.3M, 2025 $-167.1M. Free cash flow: 2021 $189.2M, 2022 $170.6M, 2023 $95.3M, 2024 $51M, 2025 $273.5M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-17.0%−10 bps YoY
Gross margin
No dataNo data
Operating margin
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FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $422.2M, 2022-12-31 $452.6M, 2023-12-31 $396.8M, 2024-12-31 $369M, 2025-12-31 $418.7M. Net income: 2021-12-31 $118.1M, 2022-12-31 $211.6M, 2023-12-31 $-5.4M, 2024-12-31 $-430.3M, 2025-12-31 $-167.1M. Free cash flow: 2021-12-31 $189.2M, 2022-12-31 $170.6M, 2023-12-31 $95.3M, 2024-12-31 $51M, 2025-12-31 $273.5M

Growth heatmap

2022202320242025CAGR
Revenue
+19.9%
+1.4%
-16.9%
-17.0%
-4.3%
Gross profit
+11.2%
-17.2%
-3.6%
+1.5%
-2.6%
Operating income
+7.2%
-12.3%
-7.0%
+13.5%
-0.2%
Free cash flow
-9.8%
-44.1%
-46.5%
+436.3%
+9.6%

Earnings quality

Operating cash flow
$331.2M+157.5% YoY
Net income
$-167.1M+61.2% YoY
Free cash flow
$273.5M+436.3% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 -198%, 2024-12-31 -30%, 2023-12-31 -3798%, 2022-12-31 148%, 2021-12-31 248%. Free cash flow: 2025-12-31 -164%, 2024-12-31 -12%, 2023-12-31 -1765%, 2022-12-31 81%, 2021-12-31 160%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
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FCF / share
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Diluted shares
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
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Return on capital

No data

Valuation

Price to earnings
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Price to sales
No dataNo data
EV / EBITDA
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Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
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Price to sales
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EV / EBITDA
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Free cash flow yield
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