Ingevity (NGVT) AI Stock Analysis

• Market Cap: $1.86B
• Dividend Yield: N/A
• Average Volume (3M): 265.77K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.72
• Revenue Growth: -13.39%
• EPS Growth: 88.25%
• Country: US
• Employees: 1,600
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 1.52
• Shares Outstanding: 35,964,030
• 10 Day Avg. Volume: 247,742
• 30 Day Avg. Volume: 265,768
• PEG Ratio: >-0.01
• Price to Book (P/B): 7.58
• Price to Sales (P/S): 1.05
• P/FCF Ratio: 29.02
• Enterprise Value/Market Cap: 1.73
• Enterprise Value/Revenue: 2.51
• Enterprise Value/Gross Profit: 6.60
• Enterprise Value/Ebitda: 22.80
• 1Y Price Target: $62.00
• Price Target Upside: 10.36% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: $46.00 ▼(-18.12% Downside)

Ingevity's overall stock score is primarily impacted by its financial performance challenges, including declining revenue and high leverage. Technical analysis indicates bearish momentum, further weighing on the score. Despite these challenges, the earnings call provided some positive insights, such as strategic divestitures and debt reduction, which offer potential for future improvement.

Positive Factors

EBITDA Margin Expansion

Consistent EBITDA margin expansion indicates strong operational efficiency and cost management, enhancing long-term profitability and competitiveness.

Debt Reduction

Reducing debt improves financial stability and flexibility, allowing Ingevity to invest in growth opportunities and weather economic downturns.

Strategic Divestiture

Divesting non-core assets allows Ingevity to focus on core segments, streamline operations, and strengthen its balance sheet.

Negative Factors

Declining Revenue

Declining revenue indicates potential loss of market share or demand, challenging Ingevity's ability to sustain growth and profitability.

High Leverage

High leverage increases financial risk, limiting Ingevity's ability to invest in growth and making it vulnerable to interest rate increases.

Profitability Challenges

Negative profit margins reflect operational inefficiencies and cost pressures, which could hinder long-term financial health and competitiveness.

Ingevity Business Overview & Revenue Model

Company Description

Ingevity Corporation (NGVT) is a global company that specializes in the production of high-performance specialty chemicals and engineered materials. Operating primarily in two segments, Performance Materials and Performance Chemicals, Ingevity develops sustainable solutions that enhance the performance of its customers' products across various industries, including automotive, construction, and consumer goods. The company is known for its innovative activated carbon products, adhesives, and oilfield technologies, which are designed to improve efficiency and reduce environmental impact.

How the Company Makes Money

Ingevity generates revenue through a diversified model that includes the sale of its specialty chemicals and engineered materials. The Performance Materials segment, which includes activated carbon and other materials, contributes significantly to revenue by serving industries such as automotive and air quality management. The Performance Chemicals segment focuses on products like adhesives and oilfield chemicals, catering to construction and energy sectors. Key revenue streams include direct sales to manufacturers and industrial partners, as well as long-term contracts with major clients that ensure stable cash flow. Additionally, Ingevity's partnerships with companies in various sectors enhance its market reach and innovation, contributing to its overall financial performance.

Ingevity Financial Statement Overview

Summary

Ingevity faces significant financial challenges with declining revenue and profitability issues. High leverage poses financial risks, but strong free cash flow growth offers some relief. The company needs to address operational inefficiencies and improve its capital structure to enhance financial stability.

Income Statement

Ingevity's income statement shows declining revenue with a negative growth rate of -3.31% TTM. The company has a negative net profit margin of -16.35% TTM, indicating significant profitability challenges. Gross profit margin is moderate at 36.47% TTM, but EBIT and EBITDA margins are negative, reflecting operational inefficiencies.

Balance Sheet

The balance sheet reveals high leverage with a debt-to-equity ratio of 11.02 TTM, indicating potential financial risk. The return on equity is negative, suggesting poor returns for shareholders. The equity ratio is low, highlighting a reliance on debt financing.

Cash Flow

Cash flow analysis shows a strong free cash flow growth rate of 59.42% TTM, which is a positive indicator. However, the operating cash flow to net income ratio is 0.55, suggesting that cash generation is not fully supporting net income. The free cash flow to net income ratio is 0.70, indicating some level of cash flow sustainability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.28B	1.41B	1.69B	1.67B	1.39B	1.22B
Gross Profit	487.10M	454.70M	471.90M	570.10M	512.80M	465.50M
EBITDA	141.10M	-329.50M	206.00M	440.20M	324.40M	382.40M
Net Income	-65.90M	-430.30M	-5.40M	211.60M	118.10M	181.40M
Balance Sheet
Total Assets	1.83B	2.02B	2.62B	2.74B	2.47B	2.33B
Cash, Cash Equivalents and Short-Term Investments	83.40M	68.00M	95.90M	76.70M	275.40M	257.70M
Total Debt	1.29B	1.45B	1.53B	1.53B	1.32B	1.34B
Total Liabilities	1.70B	1.83B	1.99B	2.04B	1.80B	1.69B
Stockholders Equity	138.10M	195.20M	631.40M	698.30M	673.80M	642.10M
Cash Flow
Free Cash Flow	239.60M	51.00M	95.30M	170.90M	189.50M	246.50M
Operating Cash Flow	298.60M	128.60M	205.10M	313.40M	293.30M	352.40M
Investing Cash Flow	-70.40M	-79.50M	-77.30M	-551.90M	-138.60M	-110.60M
Financing Cash Flow	-266.40M	-70.20M	-99.90M	48.10M	-133.10M	-50.20M

Ingevity Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 56.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NGVT, the sentiment is Positive. The current price of 56.18 is above the 20-day moving average (MA) of 50.08, above the 50-day MA of 52.99, and above the 200-day MA of 46.92, indicating a neutral trend. The MACD of -0.43 indicates Negative momentum. The RSI at 50.87 is Neutral, neither overbought nor oversold. The STOCH value of 79.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NGVT.

Ingevity Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MTX	62 Neutral	$1.73B	-2,090.60	-0.09%	0.77%	-2.53%	-100.23%
SCL	62 Neutral	$1.02B	22.86	3.67%	3.43%	5.35%	-1.43%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ASH	61 Neutral	$2.63B	―	-34.45%	2.87%	-13.67%	-608.89%
KWR	58 Neutral	$2.34B	―	-0.64%	1.54%	0.08%	-107.33%
IOSP	49 Neutral	$1.83B	―	-0.09%	2.31%	-4.49%	-100.80%
NGVT	48 Neutral	$1.86B	―	-38.91%	―	-13.39%	88.25%

Ingevity Corporate Events

Ingevity Corporation Reports Q3 2025 Financial Results

Ingevity Corporation, a global manufacturer of specialty chemicals and materials, operates in three segments: Performance Materials, Advanced Polymer Technologies, and Performance Chemicals, providing solutions for applications such as adhesives, agrochemicals, and automotive components.

Ingevity’s Earnings Call: Strategic Moves and Growth

Ingevity’s recent earnings call conveyed a generally positive sentiment, underscored by strategic advancements and robust performances in key segments. While the company acknowledged challenges, particularly in the APT segment and supply chain issues, the overall tone was optimistic, buoyed by debt reduction and margin expansion achievements.

Ingevity Appoints Ruth Castillo as Senior VP

On October 23, 2025, Ingevity Corporation announced the appointment of Ruth Castillo as Senior Vice President and President of Performance Materials, effective November 10, 2025. Castillo, with over 25 years of experience in the chemicals and materials industries, will lead Ingevity’s activated carbon segment, focusing on innovation and strategic growth. Her leadership is expected to reinforce the segment’s market position in evaporative emissions control and expand into emerging applications, aligning with Ingevity’s goals for operational excellence and market-driven priorities.

The most recent analyst rating on (NGVT) stock is a Buy with a $69.00 price target. To see the full list of analyst forecasts on Ingevity stock, see the NGVT Stock Forecast page.

Ingevity Sells Refinery to Mainstream Pine for $110M

On September 4, 2025, Ingevity Corporation announced an agreement to sell its North Charleston crude tall oil refinery and the majority of its Industrial Specialties product line to Mainstream Pine Products for $110 million in cash, with potential additional contingent payments. This transaction aims to reduce portfolio volatility, strengthen Ingevity’s margin and cash flow profile, and enhance strategic flexibility. The sale is expected to close by early 2026 and will not impact Ingevity’s Road Technologies product line. The agreement includes various operational and supply arrangements between Ingevity and Mainstream, ensuring continuity and mutual benefits for both parties.

The most recent analyst rating on (NGVT) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on Ingevity stock, see the NGVT Stock Forecast page.

Ingevity’s Financial Health at Risk Amid Escalating U.S.-China Tariff Tensions

Ingevity faces significant business risks due to recent changes in U.S. tariff policies, which have led to retaliatory tariffs from key trading partners like China. These developments are likely to increase the cost of exporting products and importing raw materials, potentially forcing Ingevity to raise prices, thereby reducing customer demand. The impact is expected to be particularly severe on the profitability of their Performance Materials and Performance Chemicals segments, as tariffs could lower margins and decrease demand for products incorporating Ingevity’s offerings. Consequently, these trade policy shifts could adversely affect Ingevity’s financial condition and operational results.