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Ashland ASH Operating Income

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Segments

By segment

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Unallocated And Other-$37M+24.5%
Personal Care And Household$29M+16.0%
Intermediates And Solvents$3M-25.0%
Specialty Additives$3M+101%

Other financials

Income statement

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Revenue$497.0M+7.3%
Gross profit$170.0M+28.8%
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 except per share data - unaudited)Three months ended / June 30 / 2026Three months ended / June 30 / 2025Nine months ended / June 30 / 2026Nine months ended / June 30 / 2025
Equity and other income - Note Q121
Goodwill impairment - Note G706706
Income (loss) on divestitures, net - Note B and Note Q13(165)
Operating income (loss)43(708)76(836)
Net interest and other (income) expense(8)(5)1934
Other net periodic benefit (income) loss - Note K(5)1(3)4
Income (loss) from continuing operations before income taxes56(704)60(874)
Income tax expense (benefit) - Note J151518(19)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ashland's operating income?
Ashland (ASH) reported operating income of $43M in Q2 2026.
How has Ashland's operating income changed year-over-year?
Ashland's operating income increased by 106.1% year-over-year, from -$708M to $43M.
What is the long-term trend for Ashland's operating income?
Over 3 years (2021 to 2025), Ashland's operating income has grown at a 66.5% compound annual growth rate (CAGR), from $181M to -$836M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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