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Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats. This segment also produces other activated carbon products for food, water, beverage, and chemical purification applications. The Performance Chemicals segment consists of road technologies and industrial specialties. This segment's products are used in pavement construction, pavement preservation, pavement reconstruction and recycling, road markings, agrochemical dispersants, lubricants, certain adhesives, rubber, and other industrial uses. The Advanced Polymer Technologies segment produces caprolactone and caprolactone-based specialty polymers for use in coatings, resins, elastomers, adhesives, bioplastics, and medical devices. It serves automotive parts manufacturers through sales representatives, third-party sales representatives, and distributors. The company was formerly known as WestRock Company, Specialty Chemicals Business and changed its name to Ingevity Corporation in September 2015. Ingevity Corporation was founded in 1964 and is headquartered in North Charleston, South Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.2B | $41M | $-167M | $274M | -562.6% | -2.7% | -61.2% |
| 2024 | $1.2B | $64M | $-430M | $51M | -220.4% | -1.3% | 7868.5% |
| 2023 | $1.2B | $346M | $-5M | $95M | -0.9% | -27.1% | -102.6% |
| 2022 | $1.7B | $440M | $212M | $171M | 30.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,668.30 | 1,215.50 | 1,200.10 | 1,167.60 |
| Operating Revenue | - | 1,668.30 | 1,215.50 | 1,200.10 | 1,167.60 |
| Cost Of Revenue | - | 1,098.20 | 770.50 | 735.30 | 706.10 |
| Gross Profit | - | 570.10 | 445 | 464.80 | 461.50 |
| Operating Expense | - | 229.10 | 187.20 | 182.30 | 199.60 |
| Research And Development | - | 30.30 | 25.40 | 24.50 | 28.40 |
| Selling General And Administration | - | 198.80 | 161.80 | 157.80 | 171.20 |
| Total Expenses | - | 1,327.30 | 957.70 | 917.60 | 905.70 |
| Operating Income | - | 341 | 257.80 | 282.50 | 261.90 |
| EBITDA | - | 440.20 | 345.50 | 64.40 | 41.40 |
| Normalized EBITDA | - | 445.80 | 388 | 386.40 | 345.90 |
| EBIT | - | 331.40 | 222.70 | -43.90 | -65 |
| Interest Income | - | 5.80 | 6.30 | 6.90 | 4.40 |
| Interest Expense | - | 61.80 | 92.70 | 96.60 | 77.10 |
| Net Interest Income | - | -56 | -87 | -90.90 | -73.90 |
| Other Non Operating Income Expenses | - | -9.80 | -17.60 | -8 | -6 |
| Other Income Expense | - | -15.40 | -40.80 | -332.10 | -330.10 |
| Interest Income Non Operating | - | 5.80 | 6.30 | 6.90 | 4.40 |
| Interest Expense Non Operating | - | 61.80 | 92.70 | 96.60 | 77.10 |
| Net Non Operating Interest Income Expense | - | -56 | -87 | -90.90 | -73.90 |
| Pretax Income | - | 269.60 | 130 | -140.50 | -142.10 |
| Tax Provision | - | 58 | 24.20 | -19.10 | 8.20 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.20 | -7.86 | -43.79 | -63.94 |
| Net Income Continuous Operations | - | 211.60 | 105.80 | -121.40 | -150.30 |
| Net Income From Continuing And Discontinued Operation | - | 211.60 | -5.40 | -430.30 | -167.10 |
| Net Income From Continuing Operation Net Minority Interest | - | 211.60 | 105.80 | -121.40 | -150.30 |
| Net Income | - | 211.60 | -5.40 | -430.30 | -167.10 |
| Net Income Common Stockholders | - | 211.60 | -5.40 | -430.30 | -167.10 |
| Net Income Including Noncontrolling Interests | - | 211.60 | -5.40 | -430.30 | -167.10 |
| Normalized Income | - | 216 | 140.44 | 156.81 | 90.26 |
| Diluted NI Availto Com Stockholders | - | 211.60 | -5.40 | -430.30 | -167.10 |
| Basic Average Shares | - | 38.20 | 36.50 | 36.30 | 36.22 |
| Diluted Average Shares | - | 38.50 | 36.50 | 36.30 | 36.22 |
| Reconciled Depreciation | - | 108.80 | 122.80 | 108.30 | 106.40 |
| Reconciled Cost Of Revenue | - | 1,098.20 | 770.50 | 735.30 | 706.10 |
| Total Unusual Items | - | -5.60 | -42.50 | -322 | -304.50 |
| Total Unusual Items Excluding Goodwill | - | -5.60 | -42.50 | -322 | -304.50 |
| Net Income Discontinuous Operations | - | - | -111.20 | -308.90 | -16.80 |
| Special Income Charges | - | -5 | -38.80 | -318.60 | -305.90 |
| Other Special Charges | 85 | - | - | 100 | - |
| Impairment Of Capital Assets | - | 0 | 0 | 306.60 | 293.10 |
| Restructuring And Mergern Acquisition | - | 5 | 38.80 | 12 | 12.80 |
| Gain On Sale Of Security | - | -0.60 | -3.70 | -3.40 | 1.40 |
| Gain On Sale Of Ppe | 0 | - | - | - | - |
| Total Other Finance Cost | - | - | 0.60 | 1.20 | 1.20 |
| Earnings From Equity Interest | - | 0 | 19.30 | -2.10 | -19.60 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ingevity Corporationthis co. | NGVT | $2.3B | -13.75 | 77.38 | -562.6% | 83.64 |
| The Chemours Company | CC | $3.3B | - | 13.03 | -154.4% | 21.03 |
| Hawkins, Inc. | HWKN | $3.2B | 39.04 | 5.96 | 15.3% | 19.62 |
| Kaiser Aluminum Corporation | KALU | $3.1B | 27.14 | 3.70 | 13.6% | 12.82 |
| Alpha Metallurgical Resources, Inc. | AMR | $2.7B |
| - |
| - |
| - |
| - |
| - |
| -44.36 |
| 1.77 |
| -4.0% |
| 24.96 |
| WD-40 Company | WDFC | $2.7B | 30.11 | 10.19 | 33.8% | 24.47 |
| Quaker Chemical Corporation | KWR | $2.4B | -982.03 | 1.78 | -0.2% | 21.93 |
| Boise Cascade Company | BCC | $2.4B | 18.14 | 1.16 | 6.4% | 6.72 |
| Minerals Technologies Inc. | MTX | $2.4B | -129.26 | 1.39 | -1.1% | 22.86 |
| Peer Median | - | 18.14 | 2.74 | 3.1% | 21.48 | |