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Ingevity

DB:IGX
Snowflake Description

Proven track record with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IGX
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The last earnings update was 17 days ago. More info.


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  • Ingevity has significant price volatility in the past 3 months.
IGX Share Price and Events
7 Day Returns
-4.8%
DB:IGX
-1%
DE Chemicals
-0.2%
DE Market
1 Year Returns
14.5%
DB:IGX
-19.9%
DE Chemicals
-10.3%
DE Market
IGX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ingevity (IGX) -4.8% -16.8% -16.2% 14.5% 260.4% -
DE Chemicals -1% -8.2% -1.6% -19.9% 11% -2.6%
DE Market -0.2% -2.4% 4.2% -10.3% 11.2% 10.8%
1 Year Return vs Industry and Market
  • IGX outperformed the Chemicals industry which returned -19.9% over the past year.
  • IGX outperformed the Market in Germany which returned -10.3% over the past year.
Price Volatility
IGX
Industry
5yr Volatility vs Market

Value

 Is Ingevity undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ingevity to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ingevity.

DB:IGX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:IGX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.873 (1 + (1- 21%) (38.78%))
1.094
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.094 * 5.96%)
6.75%

Discounted Cash Flow Calculation for DB:IGX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ingevity is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:IGX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.75%)
2019 96.20 Analyst x1 90.12
2020 337.00 Analyst x1 295.74
2021 436.46 Est @ 29.51% 358.81
2022 526.92 Est @ 20.73% 405.80
2023 603.73 Est @ 14.58% 435.56
2024 665.75 Est @ 10.27% 449.95
2025 714.08 Est @ 7.26% 452.10
2026 750.85 Est @ 5.15% 445.34
2027 778.43 Est @ 3.67% 432.51
2028 798.98 Est @ 2.64% 415.87
Present value of next 10 years cash flows $3,781.80
DB:IGX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $798.98 × (1 + 0.23%) ÷ (6.75% – 0.23%)
$12,282.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,282.93 ÷ (1 + 6.75%)10
$6,393.21
DB:IGX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,781.80 + $6,393.21
$10,175.02
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $10,175.02 / 41.85
$243.16
DB:IGX Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:IGX represents 0.89406x of NYSE:NGVT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89406x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 243.16 x 0.89406
€217.40
Value per share (EUR) From above. €217.40
Current discount Discount to share price of €81.61
= -1 x (€81.61 - €217.40) / €217.40
62.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Ingevity is available for.
Intrinsic value
>50%
Share price is €81.61 vs Future cash flow value of €217.4
Current Discount Checks
For Ingevity to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ingevity's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ingevity's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ingevity's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ingevity's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:IGX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.84
NYSE:NGVT Share Price ** NYSE (2019-05-17) in USD $91.28
Germany Chemicals Industry PE Ratio Median Figure of 17 Publicly-Listed Chemicals Companies 20.57x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ingevity.

DB:IGX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NGVT Share Price ÷ EPS (both in USD)

= 91.28 ÷ 3.84

23.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ingevity is overvalued based on earnings compared to the DE Chemicals industry average.
  • Ingevity is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Ingevity's expected growth come at a high price?
Raw Data
DB:IGX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
22.5%per year
Germany Chemicals Industry PEG Ratio Median Figure of 13 Publicly-Listed Chemicals Companies 1.84x
Germany Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

DB:IGX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.78x ÷ 22.5%

1.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ingevity is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Ingevity's assets?
Raw Data
DB:IGX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $8.58
NYSE:NGVT Share Price * NYSE (2019-05-17) in USD $91.28
Germany Chemicals Industry PB Ratio Median Figure of 19 Publicly-Listed Chemicals Companies 1.59x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.77x
DB:IGX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NGVT Share Price ÷ Book Value per Share (both in USD)

= 91.28 ÷ 8.58

10.64x

* Primary Listing of Ingevity.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ingevity is overvalued based on assets compared to the DE Chemicals industry average.
X
Value checks
We assess Ingevity's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check)
  5. Ingevity has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Ingevity expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ingevity expected to grow at an attractive rate?
  • Ingevity's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Ingevity's earnings growth is expected to exceed the Germany market average.
  • Ingevity's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:IGX Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:IGX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 22.5%
DB:IGX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 8%
Germany Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 9.1%
Germany Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:IGX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:IGX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,655 2
2021-12-31 1,583 381 277 3
2020-12-31 1,483 372 257 7
2019-12-31 1,349 286 187 8
DB:IGX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,175 234 161
2018-12-31 1,134 252 169
2018-09-30 1,085 207 169
2018-06-30 1,037 193 153
2018-03-31 989 178 138
2017-12-31 972 174 127
2017-09-30 954 187 94
2017-06-30 942 144 53
2017-03-31 927 131 45
2016-12-31 908 128 35
2016-09-30 898 111 34
2016-06-30 902 100 64

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ingevity's earnings are expected to grow significantly at over 20% yearly.
  • Ingevity's revenue is expected to grow by 8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:IGX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Ingevity Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IGX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 6.52 6.52 6.52 1.00
2020-12-31 5.79 5.93 5.65 2.00
2019-12-31 4.37 4.51 4.23 2.00
DB:IGX Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.84
2018-12-31 4.02
2018-09-30 4.01
2018-06-30 3.63
2018-03-31 3.28
2017-12-31 3.00
2017-09-30 2.23
2017-06-30 1.26
2017-03-31 1.07
2016-12-31 0.84
2016-09-30 0.80
2016-06-30 1.52

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Ingevity will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Ingevity's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ingevity has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Ingevity performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ingevity's growth in the last year to its industry (Chemicals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ingevity's year on year earnings growth rate has been positive over the past 5 years.
  • Ingevity's 1-year earnings growth exceeds its 5-year average (16.4% vs 15%)
  • Ingevity's earnings growth has exceeded the DE Chemicals industry average in the past year (16.4% vs -10.2%).
Earnings and Revenue History
Ingevity's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ingevity Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IGX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,175.20 161.00 145.20 21.60
2018-12-31 1,133.60 169.10 132.60 21.50
2018-09-30 1,084.50 168.60 124.50 21.50
2018-06-30 1,037.40 152.90 116.20 20.70
2018-03-31 989.10 138.30 107.00 19.70
2017-12-31 972.40 126.50 106.50 19.80
2017-09-30 953.80 94.00 104.10 19.00
2017-06-30 942.10 53.00 103.10 18.10
2017-03-31 927.20 45.00 99.50 18.10
2016-12-31 908.30 35.20 96.40 17.60
2016-09-30 897.80 33.50 92.60 13.20
2016-06-30 901.90 64.10 95.40 9.30
2016-03-31 918.70 65.90 104.80 4.60
2015-12-31 958.30 79.70 92.70 17.40
2015-09-30 998.90 99.30 107.30 8.00
2015-06-30 1,025.40 114.90 108.30 8.00
2015-03-31 1,021.70 120.50 104.20 8.00
2014-12-31 1,035.50 129.00 107.70
2013-12-31 980.00 119.00 92.00 11.00
2012-12-31 939.00 119.00 95.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Ingevity made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Ingevity used its assets more efficiently than the DE Chemicals industry average last year based on Return on Assets.
  • Ingevity's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ingevity's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ingevity has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Ingevity's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ingevity's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ingevity is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ingevity's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ingevity's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ingevity Company Filings, last reported 1 month ago.

DB:IGX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 358.70 1,481.10 38.80
2018-12-31 338.70 752.40 78.20
2018-09-30 322.70 748.90 58.00
2018-06-30 349.30 748.30 83.60
2018-03-31 313.00 748.00 56.50
2017-12-31 277.90 453.40 89.70
2017-09-30 233.60 453.40 72.10
2017-06-30 196.10 478.50 42.80
2017-03-31 158.80 502.10 31.80
2016-12-31 134.60 488.80 30.50
2016-09-30 132.40 518.50 27.10
2016-06-30 136.60 566.60 55.70
2016-03-31 533.70 88.90 22.70
2015-12-31 517.40 89.40 32.00
2015-09-30 518.00 97.00 30.00
2015-06-30 478.00 101.00 15.00
2015-03-31 420.00 89.00 20.00
2014-12-31 420.00 89.00 20.00
2013-12-31 328.00 86.00 12.00
2012-12-31
  • Ingevity's level of debt (412.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (24.7% vs 412.9% today).
  • Debt is not well covered by operating cash flow (15.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.8x coverage).
X
Financial health checks
We assess Ingevity's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ingevity has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Ingevity's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Ingevity dividends. Estimated to be 0% next year.
If you bought €2,000 of Ingevity shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Ingevity's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Ingevity's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:IGX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Germany Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:IGX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Ingevity has not reported any payouts.
  • Unable to verify if Ingevity's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Ingevity's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Ingevity has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Ingevity's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Ingevity's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ingevity afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ingevity has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Ingevity's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
D. Wilson
COMPENSATION $5,422,777
AGE 55
TENURE AS CEO 4.3 years
CEO Bio

Mr. D. Michael Wilson has been Chief Executive Officer and President of Ingevity Corporation since 2015. Mr. Wilson served as the Chief Executive Officer of Specialty Chemicals Business at WestRock Company from September 1, 2015 to October 28, 2015. Mr. Wilson has breadth and depth of specialty chemicals experience. He joined Ingevity from Albemarle Corporation. Mr. Wilson served as the President of Performance Chemicals and Executive Vice President of Albemarle Corporation until August 31, 2015 leading its Performance Chemicals business. Mr. Wilson served as Senior Vice President and President of Catalyst Solutions of Albemarle Corporation since October 1, 2013. He led all aspects of Albemarle's Catalyst Solutions. He served as the President of Specialty Chemicals Group at FMC Corp. from January 4, 2011 to April 30, 2013. Mr. Wilson served as a Vice President and General Manager of Industrial Chemicals Group at FMC from October 2003 to January 2011. He joined FMC in the Lithium Division in 1997 as its General Manager. He served as a Vice President and the General Manager of Technical Specialty Papers Division at Wausau Paper Corporation since 1996. He served as Vice President of Sales and Marketing at Rexam, Inc. since 1993 and also held a number of senior management positions including Operations Director, Vice President and General Manager. He held a variety of business unit leadership roles at FMC, Wausau Papers and Rexam. He has been a Director of Greater Philadelphia Chamber of Commerce since October 2011 and Ingevity Corporation since May 16, 2016. He holds a B.S. in Chemistry from the University of North Carolina at Chapel Hill and a Master of Business Administration from the Kenan-Flagler Business School at the University of North Carolina.

CEO Compensation
  • D.'s compensation has been consistent with company performance over the past year.
  • D.'s remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Ingevity management team in years:

4.3
Average Tenure
53.5
Average Age
  • The tenure for the Ingevity management team is about average.
Management Team

D. Wilson

TITLE
President
COMPENSATION
$5M
AGE
55
TENURE
4.3 yrs

John Fortson

TITLE
Executive VP
COMPENSATION
$2M
AGE
51
TENURE
4.3 yrs

Kathy Burgeson

TITLE
Executive VP
COMPENSATION
$1M
AGE
60
TENURE
4.3 yrs

Ed Woodcock

TITLE
Executive VP & President of Performance Materials
COMPENSATION
$1M
AGE
52
TENURE
4.3 yrs

Mike Smith

TITLE
Executive VP and President of Performance Chemicals
COMPENSATION
$2M
AGE
57
TENURE
2.3 yrs

Marty Heyne

TITLE
Senior Vice President of Operations

Phillip Platt

TITLE
Chief Accounting Officer & Corporate Controller
AGE
37
TENURE
3 yrs

Daniel Gallagher

TITLE
Vice President of Investor Relations

Cindy Burns

TITLE
Senior Vice President of Human Resources
Board of Directors Tenure

Average tenure and age of the Ingevity board of directors in years:

3
Average Tenure
61
Average Age
  • The tenure for the Ingevity board of directors is about average.
Board of Directors

Richard Kelson

TITLE
Chairman of the Board
COMPENSATION
$265K
AGE
71
TENURE
3 yrs

D. Wilson

TITLE
President
COMPENSATION
$5M
AGE
55
TENURE
4.3 yrs

Mike Fitzpatrick

TITLE
Director
COMPENSATION
$192K
AGE
71
TENURE
3 yrs

Fred Lynch

TITLE
Director
COMPENSATION
$195K
AGE
53
TENURE
3 yrs

Jean Blackwell

TITLE
Director
COMPENSATION
$200K
AGE
63
TENURE
3 yrs

Luis Fernandez-Moreno

TITLE
Director
COMPENSATION
$180K
AGE
55
TENURE
3 yrs

Dan Sansone

TITLE
Director
COMPENSATION
$180K
AGE
66
TENURE
3 yrs

Karen Narwold

TITLE
Director
AGE
58
TENURE
0.3 yrs

Diane Gulyas

TITLE
Director
AGE
61
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • Ingevity insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
01. Mar 19 Sell John Fortson Individual 27. Feb 19 27. Feb 19 -18,000 €101.21 €-1,811,644
28. Feb 19 Sell Phillip Platt Individual 26. Feb 19 26. Feb 19 -2,725 €100.35 €-273,467
26. Feb 19 Sell Katherine Burgeson Individual 25. Feb 19 25. Feb 19 -4,400 €101.12 €-444,947
X
Management checks
We assess Ingevity's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ingevity has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats. This segment also produces other activated carbon products for use in various applications, including food, water, beverage, and chemical purification. The Performance Chemicals segment develops, manufactures, and sells a range of specialty chemicals derived from co-products of the Kraft pulping process and caprolactone. This segment’s products are used in various applications comprising pavement preservation, pavement adhesion promotion and warm mix paving, oil well service additives, oil production and downstream application chemicals, printing inks, adhesives, agrochemicals, lubricants and industrial intermediates, coatings resins, elastomers, adhesives, and bio-plastics. Ingevity Corporation was incorporated in 2015 and is headquartered in North Charleston, South Carolina.

Details
Name: Ingevity Corporation
IGX
Exchange: DB
Founded: 2015
$3,422,407,080
41,845,429
Website: http://www.ingevity.com
Address: Ingevity Corporation
5255 Virginia Avenue,
North Charleston,
South Carolina, 29406,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NGVT Commmon Stock New York Stock Exchange US USD 16. May 2016
DB IGX Commmon Stock Deutsche Boerse AG DE EUR 16. May 2016
BMV NGVT * Commmon Stock Bolsa Mexicana de Valores MX MXN 16. May 2016
Number of employees
Current staff
Staff numbers
1,750
Ingevity employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 22:53
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.