Ingevity
Makes activated carbon, asphalt additives, and caprolactone polymers for automotive and industrial markets.
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Profile
Produces activated carbon for automotive gasoline-vapor control and filtration, asphalt additives and agrochemical dispersants, and caprolactone polymers for industrial applications. Performance Materials is the largest business, making results especially sensitive to gasoline and hybrid vehicle production and emissions standards.
Engineers hardwood-based activated carbon for gasoline-vapor control systems in internal-combustion and hybrid vehicles, alongside filtration media for food, water and chemicals. Performance Materials is the largest business, with demand concentrated in North America and Asia and tied to vehicle production, powertrain mix and regional emissions standards.
Pavement Technologies supplies additives for asphalt construction, preservation, recycling and warm-mix paving, plus agrochemical dispersants. Advanced Polymer Technologies makes caprolactone and specialty polymers for coatings, adhesives, elastomers, bioplastics and medical uses. Technical formulation support and specialized manufacturing connect these otherwise distinct markets.
Following the sales of Industrial Specialties and Road Markings, the portfolio has three reporting segments while Advanced Polymer Technologies remains under strategic review. Several specialty products depend on single manufacturing sites, including caprolactone production in the United Kingdom.
Company facts
Key statistics
Year to date +15.6% · Average volume (30d) 232.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Mar 2, 2026 | BMO Capital | Target | $70 | $83 | ||
| Feb 26, 2026 | Jefferies | Target | $62 | $82 | ||
| Jan 28, 2026 | Wells Fargo | Target | $65 | |||
| Dec 10, 2025 | BMO Capital | Reiterate | Outperform | $68 | $70 | |
| Sep 5, 2025 | BMO Capital | Reiterate | Outperform | $62 | $68 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $1.33 | $1.74 | +30.8% | $312.2M | $314.1M | +0.6% | −0.61% |
| May 6, 2026Q1 FY26 | $0.84 | $1.15 | +36.9% | $254.7M | $258.0M | +1.3% | −4.88% |
| Feb 25, 2026Q4 FY25 | $0.67 | $0.58 | −12.8% | $257.3M | $255.1M | −0.8% | +1.32% |
| Nov 5, 2025Q3 FY25 | $0.68 | $1.31 | +92.6% | $257.3M | $333.1M | +29.5% | −15.17% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $284.0M | $365.1M | $333.1M | $255.1M | $258.0M | $314.1M | |
| Gross profit | $113.4M | $137.9M | $133.9M | $87.8M | $116.4M | $139.0M | |
| Operating income | $62.6M | $85.9M | $82.8M | $38.8M | $69.0M | $60.1M | |
| Net income | $20.5M | −$146.5M | $43.5M | −$84.6M | $59.8M | $35.3M | |
| Diluted EPS | $0.56 | −$4.02 | $1.18 | −$2.37 | $1.66 | $1.00 | |
| Gross margin | 39.9% | 37.8% | 40.2% | 34.4% | 45.1% | 44.3% | |
| Operating margin | 22.0% | 23.5% | 24.9% | 15.2% | 26.7% | 19.1% |
Fiscal years (4-quarter sums)FY21 $1.39B · FY22 $1.67B · FY23 $1.69B · FY24 $1.41B · FY25 $1.24B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $97.4M · Total debt $1.24B · Total assets $1.54B · Shareholders' equity $46.9M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 34.38M · Float 34.05M · 99.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.36M | 15.60% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 2.38M | 6.91% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 1.57M | 4.57% | 13F | Aug 13, 2026 |
| State Street Corp | 1.50M | 4.36% | 13F | Aug 7, 2026 |
| American Century Companies Inc | 1.27M | 3.70% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | David H. Li | director, officer: President & CEO | −92 | $74.71 |
| Aug 17, 2026 | David H. Li | director, officer: President & CEO | −5,000 | $75.83 |
| Aug 14, 2026 | David H. Li | director, officer: President & CEO | −5,000 | $75.73 |
| Aug 13, 2026 | David H. Li | director, officer: President & CEO | −5,000 | $75.73 |
| Aug 12, 2026 | David H. Li | director, officer: President & CEO | −5,000 | $76.62 |
Peers
- Cabot
Carbon-materials peer in purification and specialty applications
- Dow
Polyol and CASE-materials rival for Capa applications
- Huntsman
Polyurethane polyols and elastomers overlap with APT
