Explain this page
Arphra AIPlain-English read on Ashland Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Revenue & profit | ||||||||
| Revenue | $2.11B | $2.39B | $2.19B | $2.11B | $1.82B | $1.85B | $1.93B | $2B |
| Cost of revenue | $1.44B | $1.56B | $1.52B | $1.5B | $1.28B | $1.28B | $1.31B | $1.36B |
| Gross profit | $670M | $830M | $668M | $618M | $549M | $565.13M | $568.11M | $605.24M |
| Gross margin | +31.74% | +34.71% | +30.49% | +29.25% | +30.10% | +30.51% | +29.47% | +30.30% |
| Operating | ||||||||
| Research & development | $50M | $55M | $51M | $55M | $54M | $48.04M | $50.91M | $53.01M |
| Selling, general & administrative | $358M | $393M | $365M | $404M | $345M | $344.72M | $346.37M | $362.61M |
| Total operating expenses | $478M | $497M | $496M | $644M | $1.32B | $796.14M | $798.28M | $859.55M |
| Operating income | $192M | $333M | $172M | -$26M | -$775M | -$223.19M | -$231.07M | -$236.31M |
| Operating margin | +9.10% | +13.93% | +7.85% | -1.23% | -42.49% | -12.05% | -11.99% | -11.83% |
| EBITDA | $448M | $509M | $457M | $303M | -$509M | $46.23M | $45.82M | $49.75M |
| EBIT | $204M | $268M | $214M | $29M | -$746M | -$183.49M | -$186.48M | -$199.61M |
| Below the line | ||||||||
| Interest expense | $73M | $66M | $57M | $53M | $63M | $51.43M | $54.13M | $57.2M |
| Interest income | $1M | $4M | $12M | $10M | $5M | $8M | $8.1M | $8.73M |
| Other income / expense | -$57M | -$127M | -$12M | $2M | -$34M | — | — | — |
| Pre-tax income | $135M | $206M | $160M | -$24M | -$809M | -$239.55M | -$238.54M | -$260.68M |
| Income tax expense | -$38M | $25M | -$8M | -$223M | $13M | $11.82M | $12.58M | $12.37M |
| Earnings | ||||||||
| Net income | $220M | $927M | $178M | $169M | -$845M | -$184.8M | -$189.93M | -$199.28M |
| Net income · continuing ops | $173M | $181M | $168M | $199M | -$822M | -$172.48M | -$179.71M | -$191.33M |
| Net margin | +10.42% | +38.77% | +8.12% | +8.00% | -46.33% | -9.98% | -9.85% | -9.98% |
| EPS · basic | $2.85 | $17.17 | $3.36 | $3.45 | $-18.37 | $3.70 | $4.42 | $5.03 |
| EPS · diluted | $3.66 | $16.41 | $3.31 | $3.38 | $-18.37 | $3.64 | $4.38 | $4.97 |
| EPS · low estimate | — | — | — | — | — | $3.24 | $3.67 | $4.23 |
| EPS · high estimate | — | — | — | — | — | $3.83 | $4.76 | $5.71 |
| Shares · basic | 78.01M | 54M | 53M | 49M | 46M | 45.94M | 45.85M | 45.9M |
| Shares · diluted | 61M | 56M | 54M | 50M | 46M | 46.45M | 46.16M | 46.31M |
| Coverage | ||||||||
| Analysts (revenue) | — | — | — | — | — | 8 | 7 | 8 |
| Analysts (EPS) | — | — | — | — | — | 5 | 5 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro