# Ashland Inc. (ASH) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Basic Materials / Chemicals. Price $72.93, market value $3.3 billion.

## Valuation
- **P/E (trailing): 46.8×** (5-yr avg 18.9×, 3-yr avg 23.9×). Ashland Inc. trades at 46.8× trailing earnings, well above its own five-year average of 18.9×: investors are paying up relative to the company's past. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 17.0×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.8×**. Each dollar of revenue is priced at 1.8×.
- **Price / book: 1.8×**. The shares trade at 1.8× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 13.7×**. Enterprise value is 13.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 7.5%** (5-yr avg 4.3%). Free cash flow equals 7.5% of the market value, above its five-year average of 4.3%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 2.1%**. The inverse of the P/E: 2.1% of the price is earned each year.

## Profitability
- **Gross margin: 31.5%**. Ashland Inc. keeps 31.5% of revenue after the direct cost of what it sells.
- **Operating margin: 7.4%**. 7.4% of revenue is left after running the business.
- **Net margin: -46.3%**. The company reported a net loss over the last twelve months.
- **Return on equity: -44.4%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 3.5%**. Return on all capital, debt included, is 3.5%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.1%**. Each dollar of assets produces 1.1% of profit.

## Growth
- **Revenue growth (1 yr): -13.7%** (3-yr -8.6%/yr, 5-yr -2.0%/yr). Revenue fell 13.7% over the last year, against -2.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -642.6%**. Earnings per share fell 642.6%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -23.4%/yr**. Free cash flow has compounded at -23.4% a year over three years.

## Financial health
- **Debt to equity: 0.73**. Debt is 0.73 times equity, moderate leverage.
- **Net debt / EBITDA: 3.6×**. It would take 3.6 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.30%** ($1.67 per share, trailing). Ashland Inc. yields 2.30%, a modest yield more typical of a growth-oriented payer.
- **Consecutive years of increases: 16**. 16 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 8.4%/yr** (1-yr 3.1%). The dividend has grown 8.4% a year over five years.

## Analyst view
- **Analyst consensus: buy** (11 analysts). 11 analysts cover Ashland Inc.; the consensus is buy, with an average price target of $80.18 (+10% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 37.4%** (YTD 26.1%, 3-mo 29.8%). The shares are up 37.4% over twelve months including dividends.
- **From 52-week high: -6.8%** (57.5% above the low). Trading 7% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 51**. An RSI of 51 is neutral.
- **Beta (1 yr): 0.91** (volatility 39%). Beta of 0.91 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ASH · Page: https://foliofundamentals.com/stocks/ash

Not investment advice.