Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.02B | $2.31B | $2.59B | $2.15B | $2.02B | $2.11B | $2.39B | $2.19B | $2.11B | $1.82B |
| Revenue growth | — | -23.5% | 12.1% | -17.0% | -6.1% | 4.7% | 13.3% | -8.4% | -3.6% | -13.7% |
| Gross profit | $887M | $729M | $863M | $651M | $599M | $670M | $830M | $668M | $618M | $549M |
| Gross margin | 29.4% | 31.6% | 33.3% | 30.3% | 29.7% | 31.7% | 34.7% | 30.5% | 29.2% | 30.1% |
| Operating income | -$50.0M | $49.0M | $102M | $86.0M | -$461M | $192M | $333M | $172M | -$26.0M | -$775M |
| Operating margin | -1.7% | 2.1% | 3.9% | 4.0% | -22.9% | 9.1% | 13.9% | 7.9% | -1.2% | -42.5% |
| Net income | -$28.0M | $28.0M | $114M | $505M | -$508M | $220M | $927M | $178M | $169M | -$845M |
| Net margin | -0.9% | 1.2% | 4.4% | 23.5% | -25.2% | 10.4% | 38.8% | 8.1% | 8.0% | -46.3% |
| EPS (diluted) | -$0.47 | $0.01 | $1.79 | $8.15 | -$8.39 | $3.59 | $16.41 | $3.31 | $3.36 | -$18.23 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $385M | $174M | $241M | $140M | $227M | $466M | $193M | $294M | $462M | $134M |
| Capital expenditures | $231M | $168M | $157M | $147M | $133M | $105M | $113M | $170M | $137M | $98.0M |
| Free cash flow | $154M | $6.00M | $84.0M | -$7.00M | $94.0M | $361M | $80.0M | $124M | $325M | $36.0M |
| Share buybacks | $500M | $0.00 | — | $200M | — | $450M | $200M | $300M | $380M | $100M |
| Dividends paid | $97.0M | $77.0M | $60.0M | $64.0M | $66.0M | $70.0M | $70.0M | $76.0M | $78.0M | $76.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.02B | $566M | $294M | $232M | $454M | $210M | $646M | $417M | $300M | $215M |
| Total assets | $10.0B | $8.62B | $8.26B | $7.25B | $6.88B | $6.61B | $6.21B | $5.94B | $5.64B | $4.61B |
| Long-term debt | $2.33B | $2.58B | $2.27B | $1.50B | $1.57B | $1.60B | $1.27B | $1.31B | $1.35B | $1.38B |
| Shareholders' equity | $3.35B | $3.41B | $3.41B | $3.57B | $3.04B | $2.75B | $3.22B | $3.10B | $2.87B | $1.90B |
| Retained earnings | $2.70B | $2.70B | $2.75B | $3.22B | $2.65B | $2.80B | $3.65B | $3.60B | $3.31B | $2.30B |
| Shares (wtd avg diluted) | 63.0M | 62.0M | 64.0M | 62.0M | 61.0M | 61.0M | 56.0M | 54.0M | 50.0M | 46.0M |
Every figure is extracted from ASHLAND INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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