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Ashland ASH Specialty Additives — Operating Income

Other segment segments

Unallocated And Other
-$37M+24.5%
Personal Care And Household
$29M+16.0%
Intermediates And Solvents
$3M-25.0%

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Other financials

Income statement

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Revenue$497.0M+7.3%
Gross profit$170.0M+28.8%
Operating income$43.0M+106%
Net income$16.0M+102%
EPS (diluted)$0.35+102%

Balance sheet

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Cash & equivalents$440.0M+113%
Total debt$1.5B-0.6%
Total equity$1.9B-1.0%
Total assets$4.6B-0.9%

Cash flow

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Operating cash flow$120.0M+4.3%
CapEx$20.0M0.0%
Free cash flow$100.0M+5.3%

Valuation

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Market cap$3.32B+40.6%
Enterprise value$4.35B+19.7%
P/E165.9×
P/S1.8×+0.5×

Profitability

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Gross margin31.5%+1.4pp
Operating margin4.1%
Net margin1.1%+0.5pp
FCF margin13.6%+9.7pp

Returns & leverage

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Return on equity1.1%+0.5pp
Debt / equity0.8×0.0×
Current ratio+0.4×

Where this comes from

Reported directly by Ashland in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Ashland’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 5:17 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-324226
(In millions - unaudited)Three months ended / June 30 / 2026Three months ended / June 30 / 2025Nine months ended / June 30 / 2026Nine months ended / June 30 / 2025
Operating income (loss)
Life Sciences$45$(343)$97$(301)
Personal Care29256764
Specialty Additives3(345)(12)(343)
Intermediates3466
Total operating segments80(659)158(574)
Unallocated and other(b)(37)(49)(82)(262)
Total operating income (loss)$43$(708)$76$(836)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ashland's specialty additives — operating income?
Ashland (ASH) reported specialty additives — operating income of $3M in Q2 2026.
How has Ashland's specialty additives — operating income changed year-over-year?
Ashland's specialty additives — operating income increased by 100.9% year-over-year, from -$345M to $3M.
What is the long-term trend for Ashland's specialty additives — operating income?
Over 2 years (2021 to 2025), Ashland's specialty additives — operating income has grown at a 137.1% compound annual growth rate (CAGR), from $61M to -$343M.
What does specialty additives — operating income mean?
This represents the core profitability of the specialty additives segment after deducting operating expenses such as cost of goods sold, research and development, and selling, general, and administrative costs. It serves as a primary indicator of the segment's operational efficiency and ability to generate profit from its core business activities. It excludes interest, taxes, and non-operating items.

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