Ashland Inc.

NYSE:ASH Stock Report

Market Cap: US$2.5b

Ashland Future Growth

Future criteria checks 3/6

Ashland is forecast to grow earnings and revenue by 97.6% and 4% per annum respectively. EPS is expected to grow by 97.9% per annum. Return on equity is forecast to be 10.1% in 3 years.

Key information

97.6%

Earnings growth rate

97.94%

EPS growth rate

Chemicals earnings growth17.1%
Revenue growth rate4.0%
Future return on equity10.05%
Analyst coverage

Good

Last updated06 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 01

ASH: Future Margins Will Likely Improve On 2026 Guidance And Completed Buybacks

Analysts keep their average Ashland price target steady at $60.00, citing small model tweaks such as a slightly lower discount rate, modestly higher revenue growth and profit margin expectations, and a marginally lower future P/E assumption as the basis for this unchanged view. What's in the News Ashland updated full-year fiscal 2026 sales guidance to a range of $1,835 million to $1,870 million, giving you a specific revenue band to track for the upcoming year (Key Developments).
Narrative Update • Apr 16

ASH: EMEA Partnership And 2026 Guidance Will Support Future Upside

Analysts have maintained their $73.00 price target for Ashland, citing revised assumptions for discount rates, revenue growth, profit margins, and a lower future P/E estimate as the main factors supporting the unchanged outlook. What's in the News Ashland reported that from October 1, 2025 to December 31, 2025, it did not repurchase any shares under its existing program.
Narrative Update • Apr 02

ASH: EMEA Distribution Partnership And Buybacks Will Support Future Upside Potential

Analysts have held Ashland's fair value at $73.00, with updated assumptions that include a slightly higher discount rate, a modest adjustment to revenue growth, a lower profit margin outlook, and a higher future P/E. Together these factors shape the latest view on the stock's risk and return trade off.
Narrative Update • Mar 19

ASH: Future Margins Will Likely Improve On Expanded EMEA Distribution And Buybacks

Analysts have adjusted their price target on Ashland from $51.00 to $60.00. This reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
Narrative Update • Mar 04

ASH: Global Distribution Partnership Will Support Future Upside Potential

Analysts have trimmed their price target on Ashland to $73 from $77, reflecting updated assumptions that include slightly different revenue growth and discount rate inputs, along with a higher projected profit margin and a lower future P/E multiple. What's in the News Ashland reported that between October 1, 2025 and December 31, 2025, it repurchased 0 shares under its existing buyback, while confirming that the overall program launched on June 28, 2023 has reached 5,826,514 shares, or 11.86%, for a total of $480.07 million (Key Developments).
Narrative Update • Feb 18

ASH: Repurchases And New Distribution Partnership Will Support Stronger Future Performance

Analysts have lifted their price target on Ashland from $63.20 to $67.10, reflecting updated assumptions that include a different discount rate, adjusted revenue growth and profit margin expectations, and a revised future P/E estimate. What’s in the News Ashland completed a share repurchase program covering 5,826,514 shares, representing 11.86% of the company, for a total of $480.07m under the buyback announced on June 28, 2023 (Key Developments).
Analysis Article • Feb 06

Ashland (NYSE:ASH) Is Paying Out A Dividend Of $0.415

Ashland Inc. ( NYSE:ASH ) has announced that it will pay a dividend of $0.415 per share on the 15th of March. The...
Narrative Update • Feb 04

ASH: Global Distribution And Buybacks Will Support Future Upside Potential

Analysts have maintained their fair value estimate for Ashland at $77.00. They indicate that updated assumptions for revenue growth, profit margins and future P/E broadly offset one another, resulting in a stable target.
Analysis Article • Jan 23

Ashland (NYSE:ASH) Will Pay A Dividend Of $0.415

The board of Ashland Inc. ( NYSE:ASH ) has announced that it will pay a dividend on the 15th of March, with investors...
Narrative Update • Jan 20

ASH: Higher Margins And Buyback Support Will Drive Bullish Upside

Analysts have nudged their price target on Ashland to US$77.00, reflecting modestly higher assumed revenue growth and profit margins, alongside a slightly lower future P/E multiple in their models. What's in the News Ashland reported that from July 1, 2025 to September 30, 2025, it repurchased 0 shares for US$0 under its ongoing buyback program.
Narrative Update • Jan 06

ASH: Earnings Outlook And Higher P/E Will Support Bullish Upside

Ashland's analyst price target moved from $79.00 to $77.00 as analysts factor in updated assumptions around fair value, profitability, revenue growth, and a higher future P/E multiple. What's in the News Ashland issued earnings guidance for full fiscal year 2026, giving you a clearer sense of management's current expectations for the business.
Narrative Update • Dec 14

ASH: Future Margins Will Likely Deteriorate Despite Stronger Revenue Outlook

Analysts have trimmed their price target on Ashland by approximately $2.00 to reflect expectations for stronger top line growth, but meaningfully lower profit margins that together warrant a higher future earnings multiple. What's in the News Ashland issued full fiscal 2026 guidance, projecting sales of $1,835 million to $1,905 million, implying organic growth of approximately one to five percent over the prior year (company guidance).
Narrative Update • Nov 28

ASH: New Guidance And Minimal Impact From Outage Will Drive Stronger Performance

Analysts have raised Ashland's fair value price target slightly from $62.40 to $63.20, citing updated expectations for revenue growth and evolving profitability assumptions. What's in the News Ashland Inc.
Narrative Update • Nov 03

ASH: Operational Recovery Will Drive Future Gains Despite Temporary Plant Impact

Analysts have revised Ashland's fair value estimate downward from $64.70 to $62.40. This revision reflects updated expectations for slightly increased revenue growth but lower profit margins, which together contribute to a modestly higher projected discount rate and future P/E multiple.
Analysis Article • Jul 08

Pinning Down Ashland Inc.'s (NYSE:ASH) P/S Is Difficult Right Now

It's not a stretch to say that Ashland Inc.'s ( NYSE:ASH ) price-to-sales (or "P/S") ratio of 1.2x seems quite...
Seeking Alpha • Jun 08

Ashland: Time To Rise From Its Ashes

Summary Ashland's ongoing asset divestitures and buybacks have failed to drive meaningful per-share growth, while sales and earnings continue to shrink. Recent guidance cuts, weak organic performance, and rising leverage ratios highlight operational challenges and increase my caution toward the stock. Despite a >3% dividend yield and a lower valuation, I see few signs of a turnaround or value creation from current strategies. Given underwhelming results, elevated debt, and management turnover, I do not find Ashland's dip attractive and prefer to stay on the sidelines. Read the full article on Seeking Alpha
Analysis Article • May 17

Ashland's (NYSE:ASH) Shareholders Will Receive A Bigger Dividend Than Last Year

The board of Ashland Inc. ( NYSE:ASH ) has announced that it will be increasing its dividend by 2.5% on the 15th of...
Analysis Article • Mar 29

Is There An Opportunity With Ashland Inc.'s (NYSE:ASH) 46% Undervaluation?

Key Insights Ashland's estimated fair value is US$108 based on 2 Stage Free Cash Flow to Equity Current share price of...
Seeking Alpha • Feb 27

Ashland Presents Attractive Upside Emerging From The Downcycle

Summary Ashland is generating attractive free cash flow and is well-positioned to achieve its 2027 target of $600 million EBITDA and 50% FCF conversion rate. Despite the stock selling off over the last 8 months, Ashland's strategic acquisitions and divestitures have strengthened its market position, with a focus on high-margin, patent-protected products. Ashland's strong balance sheet, low leverage, and fixed-rate debt provide stability and flexibility to navigate the current downcycle in the specialty chemicals sector. With significant insider buying and undervaluation relative to peers, Ashland presents an attractive investment opportunity with potential for 17.1%-23.5% annualized returns. Read the full article on Seeking Alpha
Analysis Article • Feb 20

We Like These Underlying Return On Capital Trends At Ashland (NYSE:ASH)

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things...
Analysis Article • Feb 05

Ashland (NYSE:ASH) Takes On Some Risk With Its Use Of Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jan 14

Here's Why Shareholders May Want To Be Cautious With Increasing Ashland Inc.'s (NYSE:ASH) CEO Pay Packet

Key Insights Ashland will host its Annual General Meeting on 21st of January CEO Guillermo Novo's total compensation...
Seeking Alpha • Dec 12

Ashland: A Stable Stock Trading At 50% Discount To Its Intrinsic Value

Summary Ashland Inc. (NYSE: ASH) offers a promising upside of 58.3% with a target price of $125.72, driven by its strong financial fundamentals and growth potential in biotechnology. The company is well-diversified, primarily serving the pharmaceutical and cosmetic industries, which account for over two-thirds of its revenue. Despite a modest 2% dividend yield, Ashland consistently pays dividends and has a history of share buybacks, signaling shareholder commitment. Read the full article on Seeking Alpha
Analysis Article • Dec 10

Subdued Growth No Barrier To Ashland Inc.'s (NYSE:ASH) Price

There wouldn't be many who think Ashland Inc.'s ( NYSE:ASH ) price-to-earnings (or "P/E") ratio of 18.1x is worth a...
Analysis Article • Nov 06

Ashland Inc.'s (NYSE:ASH) Intrinsic Value Is Potentially 27% Above Its Share Price

Key Insights The projected fair value for Ashland is US$108 based on 2 Stage Free Cash Flow to Equity Current share...
Analysis Article • Sep 16

Here's Why Ashland (NYSE:ASH) Has A Meaningful Debt Burden

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
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New Narrative • Sep 02

Navigating Challenges With Critical Divestitures And Personal Care Sector Growth

Streamlining operations by exiting lower-margin businesses and focusing on high-margin sectors to improve profit margins and financial health.
Analysis Article • Aug 30

Returns On Capital At Ashland (NYSE:ASH) Paint A Concerning Picture

When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...
Analysis Article • Aug 15

Ashland's (NYSE:ASH) Soft Earnings Are Actually Better Than They Appear

Ashland Inc.'s ( NYSE:ASH ) earnings announcement last week contained some soft numbers, disappointing investors. We...
Analysis Article • Aug 12

Getting In Cheap On Ashland Inc. (NYSE:ASH) Is Unlikely

When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 17x, you may...
Analysis Article • Jul 28

A Look At The Fair Value Of Ashland Inc. (NYSE:ASH)

Key Insights The projected fair value for Ashland is US$101 based on 2 Stage Free Cash Flow to Equity Ashland's...
Analysis Article • Jun 20

Why Ashland Inc. (NYSE:ASH) Could Be Worth Watching

Ashland Inc. ( NYSE:ASH ), is not the largest company out there, but it had a relatively subdued couple of weeks in...
Analysis Article • Jun 05

Ashland (NYSE:ASH) Has A Somewhat Strained Balance Sheet

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...

Earnings and Revenue Growth Forecasts

NYSE:ASH - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
9/30/20281,9981522033268
9/30/20271,9281281943119
9/30/20261,8521042143299
3/31/20261,808-685198283N/A
12/31/20251,805-670154243N/A
9/30/20251,824-822-494N/A
6/30/20251,869-83632134N/A
3/31/20251,949-8633144N/A
12/31/20242,045560184N/A
9/30/20242,113199274411N/A
6/30/20242,108172299467N/A
3/31/20242,111183309491N/A
12/31/20232,139154310493N/A
9/30/20232,19116873243N/A
6/30/20232,30623648195N/A
3/31/20232,404245-325-191N/A
12/31/20222,404191-403-282N/A
9/30/20222,391181-326-213N/A
6/30/20222,350155-224-126N/A
3/31/20222,249175252341N/A
12/31/20212,155162384474N/A
9/30/20212,111173455560N/A
6/30/20211,81975433546N/A
3/31/20211,85054326446N/A
12/31/20201,951-546212346N/A
9/30/20202,016-55570203N/A
6/30/20202,326-46458203N/A
3/31/20202,393-49160210N/A
12/31/20192,450129N/A257N/A
9/30/20192,148-39N/A241N/A
6/30/20192,551-5N/A295N/A
3/31/20192,579-17N/A286N/A
12/31/20182,584-20N/A270N/A
9/30/20182,58919N/A297N/A
6/30/20182,802-31N/A225N/A
3/31/20183,003-61N/A301N/A
12/31/20173,137-88N/A333N/A
9/30/20172,309-207N/A383N/A
6/30/20173,134-425N/A513N/A
3/31/20173,054-382N/A492N/A
12/31/20162,560-451N/A619N/A
9/30/20163,019-284N/A678N/A
6/30/20163,5452N/A637N/A
3/31/20164,12192N/A192N/A
12/31/20155,159242N/A424N/A
9/30/20153,420-12N/A333N/A
6/30/20155,645224N/A293N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASH is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.5%).

Earnings vs Market: ASH is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: ASH is expected to become profitable in the next 3 years.

Revenue vs Market: ASH's revenue (4% per year) is forecast to grow slower than the US market (11.6% per year).

High Growth Revenue: ASH's revenue (4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ASH's Return on Equity is forecast to be low in 3 years time (10.1%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 21:23
End of Day Share Price 2026/05/11 00:00
Earnings2026/03/31
Annual Earnings2025/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Ashland Inc. is covered by 20 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William SeleskyArgus Research Company
John McNultyBMO Capital Markets Equity Research
David BegleiterDeutsche Bank