What is Ashland's net debt?

Ashland (ASH) reported net debt of $1.14B in Q1 2026.

How has Ashland's net debt changed year-over-year?

Ashland's net debt decreased by 13.9% year-over-year, from $1.32B to $1.14B.

What is the long-term trend for Ashland's net debt?

Over 5 years (2020 to 2025), Ashland's net debt has grown at a -3.6% compound annual growth rate (CAGR), from $1.54B to $1.28B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Ashland ASH Net debt

Discontinued — last reported Q2 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Carter'sCRI

3.6×+0.8×

HarmonicHLIT

0.1×-2.0×

Other financials

Income statement

See full

Revenue$482.0M+0.6%

Gross profit$147.0M0.0%

Operating income$39.0M-23.5%

Net income$16.0M-48.4%

EPS (diluted)$0.34-47.7%

Balance sheet

See full

Cash & equivalents$343.0M+104%

Total debt$1.5B-0.6%

Total equity$1.9B-27.1%

Total assets$4.5B-14.0%

Cash flow

See full

Operating cash flow$50.0M+456%

CapEx$17.0M-19.0%

Free cash flow$33.0M+375%

Valuation

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Market cap$2.93B-9.0%

Enterprise value$4.06B-10.6%

P/S1.6×0.0×

Profitability

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Gross margin30%-1.7pp

Operating margin-37.3%—

Net margin-40.8%-48.8pp

FCF margin13.6%+9.7pp

Returns & leverage

See full

Return on equity-33.4%-38.5pp

Debt / equity0.8×+0.2×

Current ratio3.1×+0.7×

Where this comes from

Calculated from Ashland’s reported figures.

$1.5Btotal debt−$343.0Mcash and equivalents=$1.14B

The official record: Ashland’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ashland's net debt?: Ashland (ASH) reported net debt of $1.14B in Q1 2026.
How has Ashland's net debt changed year-over-year?: Ashland's net debt decreased by 13.9% year-over-year, from $1.32B to $1.14B.
What is the long-term trend for Ashland's net debt?: Over 5 years (2020 to 2025), Ashland's net debt has grown at a -3.6% compound annual growth rate (CAGR), from $1.54B to $1.28B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.