Ingevity Corporation Common Stock (NGVT)

FairStock Score: 28/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Mr. Market is asking $70.08 for Ingevity as of 2026-10-13, a $2.4 billion market value and near the upper part of its 52-week range of $45.85 to $79.29. The company sells activated carbon and specialty chemicals with only 1,400 employees, and revenue has been roughly $1.2 billion in each of fiscal 2023, fiscal 2024, and fiscal 2025. Reported earnings have been poor: net loss of $5.4 million in fiscal 2023 (year ended 2023-12-31), $430.3 million in fiscal 2024 (year ended 2024-12-31), and $167.1 million in fiscal 2025 (year ended 2025-12-31). Yet the losses narrowed sharply, and filed quarters show profits: net income of $43.5 million in fiscal Q3 2025 (quarter ended 2025-09-30), $59.8 million in fiscal Q1 2026 (quarter ended 2026-03-31), and $35.3 million in fiscal Q2 2026 (quarter ended 2026-06-30). Trailing free cash flow is $154.9 million, a 6.4% yield on the market cap, which gives some substance. But the price-based numbers from FairStock are demanding at the 2026-10-13 close: P/E 98.70, P/B 51.53, Graham Number $4.66, and margin of safety -1403.86%. Financial quality is mixed: debt-to-equity 26.36%, Altman Z-score 1.99, Piotroski F-Score 4/9, ROCE 10.41%, and ROE 30.07%. FairStock's Lynch category is TURNAROUND — Loss in the latest year after earlier profits, which matches a company that still must prove its recent quarterly profits are durable. A 28/100 FairStock Score reinforces caution. I prefer businesses with consistent earning power and a margin of safety; Ingevity has improving cash flow and narrowing losses, but at this price the asset and earnings protection are thin.

In plain English: Ingevity makes specialty chemicals and activated carbon products, mainly for gasoline vapor control and other industrial uses. The business has reported annual losses in fiscal 2023, 2024, and 2025, but recent fiscal 2026 quarters were profitable and cash flow is positive. At the 2026-10-13 close of $70.08, the price looks expensive versus the company's earnings, book value, and conservative asset value.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer