Ashland
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
11.019.32
Price/Sales ratio
1.331.26
Earnings per Share (EPS)
$4.85$5.74

Historical Multiples (2015 – 2024)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM Median
Valuation Ratios
Price/Earnings ratio
10.70-121.624.04K45.79199.04-8.8130.9028.8524.3225.2119.11-8.81
Price/Sales ratio
0.610.711.241.391.911.852.532.181.972.011.351.85
Price/Book Value ratio
1.081.111.181.531.331.421.941.621.391.481.171.42
Price/Cash Flow ratio
9.905.3211.0817.5719.8221.319.54-24.5217.819.227.5021.31
Price/Free Cash Flow ratio
47.939.7124.3746.6154.9066.5511.75-16.0259.3013.1110.8266.55
Price/Earnings Growth ratio
0.271.10-39.120.00-2.520.00-0.222.0211.439.41-1.10-2.52
Dividend Yield
2.96%2.75%1.90%1.14%1.33%1.52%1.30%1.34%1.75%1.83%2.23%1.33%
Profitability Indicator Ratios
Gross Profit Margin
29.19%32.88%27.23%28.72%30.76%30.39%31.73%34.71%30.48%29.24%20.81%30.39%
Operating Profit Margin
8.50%6.60%4.35%6.06%6.65%28.46%8.57%10.28%7.85%-1.23%3.77%28.46%
Pretax Profit Margin
3.13%2.74%-3.00%3.04%2.80%-21.62%6.39%8.61%7.30%-1.13%-0.96%-21.62%
Net Profit Margin
5.73%-0.58%0.03%3.04%0.96%-21.10%8.19%7.57%8.12%7.99%7.07%0.96%
Effective Tax Rate
-13.01%97.79%-7.14%7.89%65.71%2.38%-28.14%12.13%-5%929.16%929.16%65.71%
Return on Assets
3.07%-0.29%0.01%1.38%0.33%-7.13%2.61%2.91%2.99%2.99%3.11%0.33%
Return On Equity
10.17%-0.91%0.02%3.34%0.67%-16.17%6.28%5.62%5.74%5.89%5.85%0.67%
Return on Capital Employed
5.31%3.85%1.85%3.16%2.55%10.91%3.18%4.34%3.13%-0.50%1.82%10.91%
Liquidity Ratios
Current Ratio
2.242.351.961.591.891.90N/AN/AN/AN/A2.431.89
Quick Ratio
1.751.801.310.971.101.251.332.051.921.321.321.10
Cash ratio
0.860.970.580.270.300.550.221.160.910.610.610.30
Days of Sales Outstanding
65.1137.4768.5248.3670.4266.2260.5158.3156.3039.2135.6366.22
Days of Inventory outstanding
67.5673.7497.5590.70126.24119.26119.80147.07150.02133.06100.92119.26
Operating Cycle
132.67111.22166.08139.07196.67185.48180.32205.39206.33172.27136.56185.48
Days of Payables Outstanding
54.8341.3262.9345.2866.1947.5659.7761.9650.3252.2439.6247.56
Cash Conversion Cycle
77.8469.89103.1493.78130.48137.91120.54143.42156.00120.0296.93137.91
Debt Ratios
Debt Ratio
0.370.250.320.300.220.260.290.200.220.230.240.22
Debt Equity Ratio
1.220.780.820.740.460.610.710.390.420.470.470.46
Long-term Debt to Capitalization
0.520.420.430.400.290.340.360.280.290.310.310.29
Total Debt to Capitalization
0.550.440.450.420.310.370.410.280.300.310.320.31
Interest Coverage Ratio
2.621.570.581.611.451.61N/AN/AN/AN/A2.351.45
Cash Flow to Debt Ratio
0.080.260.120.110.140.100.28-0.160.180.340.320.14
Company Equity Multiplier
3.313.062.532.422.032.262.401.921.911.961.962.26
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.060.130.110.070.090.080.26-0.080.110.210.170.09
Free Cash Flow / Operating Cash Flow Ratio
0.200.540.450.370.360.320.811.530.300.700.690.36
Cash Flow Coverage Ratio
0.080.260.120.110.140.100.28-0.160.180.340.320.14
Short Term Coverage Ratio
0.873.91.551.161.450.721.49N/A15.18N/A22.41.45
Dividend Payout Ratio
31.71%-334.48%7700%52.63%266.66%-13.44%40.46%38.67%42.69%46.15%44.31%44.31%