What is Ashland's operating margin?

Ashland (ASH) reported operating margin of -37.3% in Q1 2026.

What is the long-term trend for Ashland's operating margin?

Over 4 years (2020 to 2025), Ashland's operating margin has grown at a 19.0% compound annual growth rate (CAGR), from -22.9% to -45.8%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Ashland ASH Operating margin

Operating margin at other companies

International Flavors & FragrancesIFF

-3.2%-1.4pp

AVT

AvantorAVTR

4%-5.2pp

WestlakeWLK

-15.7%-20.8pp

AvientAVNT

9.1%+1.8pp

Minerals TechnologiesMTX

12.5%+10.0pp

Element SolutionsESI

13.4%-0.4pp

Other financials

Income statement

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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

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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

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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

Net margin-40.8%-48.8pp

FCF margin13.6%+9.7pp

Returns & leverage

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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.

operating income/total revenue=-37.3%

Based on trailing twelve months.

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 operating margin?: Ashland (ASH) reported operating margin of -37.3% in Q1 2026.
What is the long-term trend for Ashland's operating margin?: Over 4 years (2020 to 2025), Ashland's operating margin has grown at a 19.0% compound annual growth rate (CAGR), from -22.9% to -45.8%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.