Ecovyst (ECVT) AI Stock Analysis

• Market Cap: $1.21B
• Dividend Yield: N/A
• Average Volume (3M): 1.48M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.16
• Revenue Growth: 7.75%
• EPS Growth: -302.73%
• Country: US
• Employees: 920
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 0.19
• Shares Outstanding: 114,019,420
• 10 Day Avg. Volume: 1,650,394
• 30 Day Avg. Volume: 1,475,607
• PEG Ratio: 1.22
• Price to Book (P/B): 1.27
• Price to Sales (P/S): 1.27
• P/FCF Ratio: 11.02
• Enterprise Value/Market Cap: 1.50
• Enterprise Value/Revenue: 2.42
• Enterprise Value/Gross Profit: 9.99
• Enterprise Value/Ebitda: 16.48
• 1Y Price Target: $11.75
• Price Target Upside: 11.90% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: $10.50 ▲(0.00% Upside)

The score is held back mainly by weak profitability and concerning cash flow quality despite low leverage. Offsetting this, the earnings call and the completed asset sale/debt repayment improve the forward balance sheet outlook, while technicals show an uptrend but with overextended momentum. Valuation support is limited given the negative P/E and no dividend yield provided.

Positive Factors

Completed asset sale and large debt paydown

Closing the $556M AM&C sale and applying proceeds to the term loan materially strengthens Ecovyst's balance sheet. Durable impact: lower interest costs, improved covenant headroom and greater financial flexibility to fund operations, invest in core segments, or sustain buybacks over the medium term.

Disciplined capital-allocation plan

Management's clear mix of deleveraging and continued buybacks signals disciplined capital allocation. This supports long-term shareholder value by prioritizing balance-sheet repair while maintaining return-of-capital optionality once leverage targets are met, reflecting strategic financial stewardship.

Structural demand for virgin sulfuric acid

Robust, recurring demand from mining provides a stable, structural revenue base for Ecovyst's Environmental Services. Mining-related volumes and long-term contracts enhance predictability and support margin resilience versus cyclical end markets, aiding multi-quarter revenue visibility.

Negative Factors

Weak profitability metrics

Persistent negative margins indicate the company struggles to convert revenue into sustainable profits. Over 2–6 months this constrains internal reinvestment, reduces buffer against cost shocks, and risks shareholder returns if operating performance does not improve materially.

Poor free cash flow quality

A severely negative FCF-to-net income ratio signals weak cash conversion and raises concerns about liquidity and funding of operations. This erodes the durability of earnings improvements and can force reliance on asset sales or external financing for core investments or shareholder returns.

Customer and operational concentration risk

Dependence on a few large refinery customers and sensitivity to their outages creates a persistent operational vulnerability. Recurring downtime can materially swing volumes and margins quarter-to-quarter, challenging revenue stability and making forecasting and margin recovery harder over the medium term.

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 sulfuric acid recycling services for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications. The Catalyst Technologies segment provides customized catalyst products and process solutions to producers and licensors of polyethylene and methyl methacrylate. Its catalyst supports the production of plastics used in packaging films, bottles, containers, and other molded applications. This segment also provides zeolite-based emission control catalysts, which enable the removal of nitrogen oxides from diesel engine emissions, as well as sulfur dioxide from fuels during the refining process. The company was formerly known as PQ Group Holdings Inc. and changed its name to Ecovyst Inc. in August 2021. Ecovyst Inc. was founded in 1831 and is headquartered in Malvern, Pennsylvania.

How the Company Makes Money

Ecovyst generates revenue primarily through the sale of its specialty catalysts and related services. The Catalyst Technologies segment contributes significantly to the company’s earnings by providing customers with high-performance catalyst solutions that improve operational efficiency in refining and petrochemical processes. Additionally, the Environmental Services segment generates revenue through catalyst regeneration and recycling services, which are essential for clients looking to minimize waste and adhere to environmental regulations. Key revenue streams include long-term contracts with major clients in the refining sector, sales of new catalysts, and fees generated from recycling services. Strategic partnerships with industry leaders also enhance Ecovyst's market position and facilitate access to new customers and technologies, further contributing to its earnings.

Ecovyst Financial Statement Overview

Summary

Ecovyst's financial performance is challenged by negative profitability metrics, including a net profit margin of -14.32% and a negative free cash flow to net income ratio of -84.25%. Despite some revenue growth and a stable balance sheet with low leverage, the negative return on equity and cash flow issues indicate significant risks.

Income Statement

Ecovyst's income statement shows a mixed performance. The TTM data indicates a slight revenue growth of 3.56%, but the company is struggling with profitability, as evidenced by a negative net profit margin of -14.32%. The gross profit margin has decreased compared to previous years, and the EBIT margin is also negative. These factors suggest challenges in maintaining profitability despite revenue growth.

Balance Sheet

The balance sheet reflects a relatively stable financial position with a low debt-to-equity ratio of 0.08 in the TTM period, indicating reduced leverage. However, the return on equity is negative, suggesting inefficiencies in generating returns for shareholders. The equity ratio remains stable, showing a solid equity base relative to total assets.

Cash Flow

The cash flow statement highlights significant challenges, with a drastic decline in free cash flow growth and a negative free cash flow to net income ratio of -84.25% in the TTM period. Operating cash flow remains positive, but the overall cash flow situation raises concerns about liquidity and the company's ability to generate cash sustainably.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	749.19M	704.49M	691.12M	820.16M	611.20M	495.92M
Gross Profit	181.37M	201.52M	197.97M	224.63M	176.66M	150.95M
EBITDA	109.88M	133.77M	211.27M	211.12M	130.67M	129.55M
Net Income	-107.33M	-6.65M	71.15M	73.70M	-139.95M	-278.77M
Balance Sheet
Total Assets	1.73B	1.80B	1.84B	1.88B	1.93B	3.20B
Cash, Cash Equivalents and Short-Term Investments	81.98M	146.01M	88.36M	110.92M	140.89M	113.38M
Total Debt	895.52M	899.16M	900.19M	913.53M	926.71M	1.43B
Total Liabilities	1.13B	1.10B	1.13B	1.18B	1.19B	1.92B
Stockholders Equity	607.87M	700.46M	705.46M	707.23M	740.74M	1.28B
Cash Flow
Free Cash Flow	73.22M	80.94M	72.26M	127.74M	69.90M	172.00M
Operating Cash Flow	142.04M	149.89M	137.60M	186.61M	129.90M	223.60M
Investing Cash Flow	-125.69M	-73.45M	-65.33M	-63.02M	835.70M	551.47M
Financing Cash Flow	-40.19M	-17.84M	-93.50M	-148.19M	-964.20M	-722.82M

Ecovyst Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ECVT, the sentiment is Positive. The current price of 10.5 is above the 20-day moving average (MA) of 9.83, above the 50-day MA of 9.10, and above the 200-day MA of 8.24, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 72.45 is Negative, neither overbought nor oversold. The STOCH value of 91.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ECVT.

Ecovyst Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SCL	66 Neutral	$1.16B	25.87	3.67%	3.33%	5.35%	-1.43%
MTX	64 Neutral	$2.06B	-2,497.74	-0.09%	0.74%	-2.53%	-100.23%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
IOSP	54 Neutral	$1.98B	-1,370.24	-0.09%	2.19%	-4.49%	-100.80%
ECVT	53 Neutral	$1.21B	-11.21	-4.15%	―	7.75%	-302.73%
SNES	49 Neutral	$11.51M	-0.61	-77.79%	―	39.37%	69.81%
LWLG	47 Neutral	$603.54M	-25.88	-56.26%	―	-11.12%	8.76%

Ecovyst Corporate Events

Ecovyst Completes Major Asset Sale and Debt Reduction

On December 31, 2025, Ecovyst completed the previously announced $556 million cash sale of its Advanced Materials & Catalysts business to Technip Energies, divesting its direct and indirect equity interests in the subsidiaries comprising that business and entering into a transition services agreement for up to 13 months. The transaction triggered a mandatory $161.5 million repayment under Ecovyst’s term loan, and the company voluntarily repaid an additional $303.5 million of principal using sale proceeds, significantly reducing its debt load; concurrently, Advanced Materials & Catalysts head Paul Whittleston left the company, and the divested business, already classified as discontinued operations since the third quarter of 2025, is now fully removed from Ecovyst’s pro forma financials, marking a substantial reshaping of its balance sheet and business mix.

The most recent analyst rating on (ECVT) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Ecovyst stock, see the ECVT Stock Forecast page.

Ecovyst Approves Retention Bonus Amid Strategic Review

On December 8, 2025, Ecovyst Inc.’s Compensation Committee approved a supplemental bonus for Paul Whittleston, the Vice President and President of Advanced Materials & Catalysts, as part of a retention bonus program. This decision is linked to the strategic review process and the company’s agreement to sell the AM&C business to Technip Energies N.V., highlighting a significant operational shift and potential impact on stakeholders.

The most recent analyst rating on (ECVT) stock is a Buy with a $11.00 price target. To see the full list of analyst forecasts on Ecovyst stock, see the ECVT Stock Forecast page.