Ecovyst (ECVT)
NYSE:ECVT
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Ecovyst
(NYSE:ECVT)
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Rating:64Neutral
Price Target:
$15.00
▲(8.85% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by strong cash generation and improved balance-sheet leverage, reinforced by constructive price trend and a solid earnings update with strong YoY EBITDA growth. The main offset is valuation risk (high P/E) alongside ongoing net losses and tightened profitability/free-cash-flow guidance amid cost and timing headwinds.
Positive Factors
Cash generation
Sustained operating cash flow and rising free cash flow underpin durable internal funding for capex, dividends/repurchases, and M&A without dependence on volatile equity markets. Over the next 2–6 months strong cash conversion should support execution of strategic priorities and buffer cyclical revenue swings.
Negative Factors
Inconsistent bottom-line profitability
Despite operating profitability and rising sales, persistent TTM net losses and negative ROE show earnings volatility and impairment of shareholder returns. Over the next several months inconsistent net income may constrain reinvestment choices and limit the durability of capital returns during downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained operating cash flow and rising free cash flow underpin durable internal funding for capex, dividends/repurchases, and M&A without dependence on volatile equity markets. Over the next 2–6 months strong cash conversion should support execution of strategic priorities and buffer cyclical revenue swings.
Read all positive factors
Ecovyst Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales across the company’s business units (such as specialty chemical and catalyst operations), showing which lines drive revenue and profit. Reveals where management is allocating resources, which segments are growing or shrinking, and whether the company’s results depend on a few high-margin businesses or a diversified mix — important for judging resilience to market swings or shifts in demand.
Breaks down sales across the company’s business units (such as specialty chemical and catalyst operations), showing which lines drive revenue and profit. Reveals where management is allocating resources, which segments are growing or shrinking, and whether the company’s results depend on a few high-margin businesses or a diversified mix — important for judging resilience to market swings or shifts in demand.
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The Fly
The FlyEcovyst (ECVT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.58B
Dividend YieldN/A
Average Volume (3M)1.48M
Price to Earnings (P/E)82.5
Beta (1Y)0.96
Revenue Growth16.03%
EPS Growth-470.74%
CountryUS
Employees920
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.14
Shares Outstanding109,453,480
10 Day Avg. Volume1,650,394
30 Day Avg. Volume1,475,607
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.86
Price to Sales (P/S)1.55
P/FCF Ratio16.05
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue1.73
Enterprise Value/Gross Profit7.88
Enterprise Value/Ebitda8.92
Forecast
1Y Price Target
$15.50Price Target Upside12.48% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.65
Revenue Forecast (FY)$957.94M
Ecovyst Business Overview & Revenue Model
Company Description
Ecovyst Inc. provides specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through two segments, Ecoservices and Catalyst Technologies. The Ecoservices segment offers...
How the Company Makes Money
Ecovyst generates revenue primarily by selling (a) catalysts and (b) silica-based specialty materials, and by providing catalyst-related services. In its catalyst business, the company earns money from supplying fresh catalyst products used in pro...
Ecovyst Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial momentum: substantial y/y revenue and adjusted EBITDA growth, robust liquidity, active capital returns via $36 million of share repurchases, and a strategic acquisition (Calabrian) that expands the product portfolio and geographic reach. Offsetting these positives are macro-driven challenges—historic sulfur cost spikes that create sales pass-through and margin percentage pressure, elevated manufacturing/transportation/turnaround costs, some quarter-to-quarter volume timing headwinds for virgin sulfuric acid, and modest near-term free cash flow due to seasonality and working-capital timing. Management tightened guidance while raising the sales range to reflect sulfur pass-through and signaled moderate additional interest expense to finance the acquisition. On balance, the operational gains, balance sheet flexibility, and strategic M&A progress outweigh the near-term cost and timing headwinds.Positive Updates
Positive Price-to-Cost Dynamics
Excluding sulfur pass-through, the price-to-cost uplift contributed roughly $11 million to Q1 results, with nearly $15 million of the period-over-period increase in adjusted EBITDA attributable to higher sales volume (including Wagaman).
Negative Updates
Historic Sulfur Cost Spike and Pass-Through Impact
Significant increase in sulfur costs led to approximately $33 million of sulfur cost pass-through in Q1 and management now expects an incremental $30 million higher sulfur pass-through impact for full-year 2026 versus prior guidance; sulfur at all-time highs driven in part by geopolitical disruption.
Read all updates
Q1-2026 Updates
Positive
Negative
Positive Price-to-Cost Dynamics
Excluding sulfur pass-through, the price-to-cost uplift contributed roughly $11 million to Q1 results, with nearly $15 million of the period-over-period increase in adjusted EBITDA attributable to higher sales volume (including Wagaman).
Read all positive updates
Company Guidance
The company tightened 2026 guidance (excluding any contributions from the announced Calabrian acquisition) and now expects full-year sales of $890 million to $970 million (up vs. prior $860M–$940M range reflecting ~$30M of incremental sulfur cost pass‑through), adjusted EBITDA of $180 million to $195 million (midpoint $187.5M), and adjusted free cash flow of $40 million to $55 million; quarterly directional EBITDA ranges are Q2 $50M–$55M, Q3 $50M–$55M and Q4 $40M–$45M, with Q2 turnaround costs lower than a year ago but higher turnaround costs expected in Q3 and Q4, and sulfur costs anticipated to ease in Q4. In Q1 the company delivered sales of $215M (up $72M YoY), adjusted EBITDA of $40M (up $19M, +87% YoY), adjusted free cash flow of $4M, net debt of $234M (leverage 1.2x), available liquidity of $237M (cash $163M, ABL $74M), repurchased $36M of stock at ~ $11/share (with $146M remaining authorization), and realized about $33M of sulfur pass‑through on sales (excluding pass‑through, sales were up ~27% and price‑to‑cost uplift was ~$11M, with ~$15M of the EBITDA gain driven by higher volumes including Wagaman). Management expects to fund the $190M Calabrian purchase (TTM adj. EBITDA ~ $24M; ~8x purchase multiple, stepping to ~7x with synergies) with cash and debt (pro forma net debt leverage at close ~2x) and anticipates cash interest to rise ~$4M–$5M annually to finance part of the deal; the acquisition is expected to close by the end of Q2.Ecovyst Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
70
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 819.42M | 723.51M | 704.49M | 691.12M | 820.16M | 611.20M |
| Gross Profit | 180.15M | 158.09M | 201.52M | 197.97M | 224.63M | 176.66M |
| EBITDA | 159.16M | 138.59M | 133.77M | 211.27M | 211.12M | 130.67M |
| Net Income | -63.22M | -71.13M | -6.65M | 71.15M | 73.70M | -139.95M |
Balance Sheet | ||||||
| Total Assets | 1.25B | 1.26B | 1.80B | 1.84B | 1.88B | 1.93B |
| Cash, Cash Equivalents and Short-Term Investments | 162.60M | 197.20M | 146.01M | 88.36M | 110.92M | 140.89M |
| Total Debt | 43.40M | 430.74M | 899.16M | 900.19M | 913.53M | 926.71M |
| Total Liabilities | 671.40M | 657.50M | 1.10B | 1.13B | 1.18B | 1.19B |
| Stockholders Equity | 575.20M | 603.50M | 700.46M | 705.46M | 707.23M | 740.74M |
Cash Flow | ||||||
| Free Cash Flow | 86.69M | 69.89M | 80.94M | 72.26M | 127.74M | 69.90M |
| Operating Cash Flow | 146.99M | 140.31M | 149.89M | 137.60M | 186.61M | 129.90M |
| Investing Cash Flow | 445.52M | 435.41M | -73.45M | -65.33M | -63.02M | 835.70M |
| Financing Cash Flow | -557.99M | -524.96M | -17.84M | -93.50M | -148.19M | -964.20M |
Ecovyst Technical Analysis
Neutral
13.78
Price Trends
13.40
Positive
12.15
Positive
10.45
Positive
Market Momentum
0.29
Positive
49.87
Neutral
41.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ECVT, the sentiment is Neutral. The current price of 13.78 is below the 20-day moving average (MA) of 14.27, above the 50-day MA of 13.40, and above the 200-day MA of 10.45, indicating a neutral trend. The MACD of 0.29 indicates Positive momentum. The RSI at 49.87 is Neutral, neither overbought nor oversold. The STOCH value of 41.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ECVT.
Ecovyst Risk Analysis
Ecovyst disclosed 41 risk factors in its most recent earnings report. Ecovyst reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ecovyst Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.95B | 14.88 | 8.54% | 2.19% | 0.25% | 325.27% | |
71 Outperform | $2.36B | 14.58 | 9.55% | 0.74% | 2.50% | ― | |
64 Neutral | $1.58B | 82.49 | -10.20% | ― | 16.03% | -470.74% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | $1.13B | -6.91 | -1.15% | 3.33% | 5.46% | -125.23% | |
57 Neutral | $1.79B | -41.31 | -38.79% | ― | 175.93% | 11.30% | |
47 Neutral | $8.43M | -1.05 | -77.79% | ― | 15.67% | 75.35% |
* Basic Materials Sector Average
ECVT
Ecovyst
14.06
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94.74%
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SNES
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11.59
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Ecovyst Corporate Events
Business Operations and StrategyM&A Transactions
Ecovyst to Acquire INEOS Calabrian in $190 Million Deal
Positive
May 4, 2026
On May 1, 2026, Ecovyst Inc., through its U.S. and Canadian subsidiaries, agreed to acquire the entire issued share capital of INEOS Calabrian Holdings Corp. and INEOS Calabrian Corporation Canada, Inc. for a purchase price of $190 million, subjec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.