Ashland Inc. (ASH) Financial Statements
Industry: Chemicals & Allied Products (Wholesale)
In fiscal 2025, Ashland reported revenue of $1.82B, down 13.7% from $2.11B the year before. Net income was -$845.0M (a -46.3% net margin), or -$18.23 per diluted share. Gross margin was 30.1% and operating margin was -42.5%. Operating activities generated $134.0M of cash, leaving $36.0M of free cash flow. At fiscal year end, Ashland held $4.61B in total assets against $2.71B in total liabilities, including $215.0M of cash and equivalents.
Open the full interactive Ashland financials → Quarterly statements, key ratios, valuation history and price charts.
Ashland Key Stats
| Share Price | $72.65 |
|---|---|
| Market Cap | $3.34B |
| Revenue YoY Growth | -13.7% |
| 52-Week Range | $46.54 – $76.01 |
| Shares Outstanding | 46.0 million (basic, 2026 Q3) |
Ashland Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.33B | $2.11B | $2.39B | $2.19B | $2.11B | $1.82B |
| Gross Profit | $707.0M | $670.0M | $830.0M | $668.0M | $618.0M | $549.0M |
| Operating Income | -$388.0M | $181.0M | $333.0M | $172.0M | -$26.0M | -$775.0M |
| Pre-Tax Income | -$503.0M | $135.0M | $206.0M | $160.0M | -$24.0M | -$809.0M |
| Income Tax | -$12.0M | -$38.0M | $25.0M | -$8.0M | -$223.0M | $13.0M |
| Net Income | -$508.0M | $220.0M | $927.0M | $178.0M | $169.0M | -$845.0M |
| Diluted EPS | -$8.39 | $3.59 | $16.41 | $3.31 | $3.36 | -$18.23 |
Ashland Quarterly Results
| 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | |
|---|---|---|---|---|
| Revenue | $477.0M | $386.0M | $482.0M | $497.0M |
| Net Income | $31.0M | -$12.0M | $16.0M | $16.0M |
| Diluted EPS | $0.67 | -$0.26 | $0.34 | $0.35 |
Ashland Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $454.0M | $210.0M | $646.0M | $417.0M | $300.0M | $215.0M |
| Current Assets | $1.55B | $1.72B | $1.77B | $1.51B | $1.20B | $1.21B |
| Total Assets | $6.88B | $6.61B | $6.21B | $5.94B | $5.64B | $4.61B |
| Current Liabilities | $813.0M | $934.0M | $553.0M | $456.0M | $490.0M | $423.0M |
| Total Long-Term Debt | $1.57B | $1.60B | $1.27B | $1.31B | $1.35B | $1.38B |
| Total Liabilities | $3.84B | $3.86B | $2.99B | $2.84B | $2.78B | $2.71B |
| Shareholders' Equity | $3.04B | $2.75B | $3.22B | $3.10B | $2.87B | $1.90B |
Ashland Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $313.0M | $466.0M | $193.0M | $294.0M | $462.0M | $134.0M |
| Cash From Investing | — | — | — | — | — | -$3.0M |
| Cash From Financing | $9.0M | -$426.0M | -$896.0M | -$371.0M | -$479.0M | -$179.0M |
| Free Cash Flow | $175.0M | $361.0M | $80.0M | $124.0M | $325.0M | $36.0M |
Figures from Ashland's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Ashland financials page for every line item.
Ashland Company Profile
| Ticker | ASH |
|---|---|
| Exchange | NYSE |
| Industry | Chemicals & Allied Products (Wholesale) |
| Headquarters | Wilmington, Delaware |
| Incorporated in | Delaware |
| Fiscal Year End | September 30 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001674862 |
Frequently Asked Questions
What was Ashland's revenue in fiscal 2025?
Ashland (ASH) reported revenue of $1.82B for fiscal 2025.
What is Ashland's annual revenue history?
Ashland's annual revenue by fiscal year: 2020: $2.33B; 2021: $2.11B; 2022: $2.39B; 2023: $2.19B; 2024: $2.11B; 2025: $1.82B.
What was Ashland's net income in fiscal 2025?
Ashland reported net income of -$845.0M for fiscal 2025.
What was Ashland's earnings per share (EPS) in fiscal 2025?
Ashland's diluted EPS was -$18.23 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Ashland generate in fiscal 2025?
Ashland generated $36.0M of free cash flow in fiscal 2025.
What was Ashland's revenue last quarter?
In its most recent reported quarter (2026 Q3), Ashland reported revenue of $497.0M.
How much debt does Ashland have?
Ashland reported $1.38B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Ashland are outstanding?
Ashland reported a weighted average of 46.0 million basic shares outstanding in 2026 Q3.
What is Ashland's market cap?
Based on its latest closing price, Ashland (ASH) has a market capitalization of about $3.34B.
When does Ashland's fiscal year end?
Ashland's fiscal year end, as registered with the SEC, is September 30.
Where is Ashland headquartered?
Ashland lists its business address in Wilmington, Delaware in its SEC filings.