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Ingevity Corp (NGVT)

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Upturn Advisory Summary
03/02/2026: NGVT (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $76
1 Year Target Price $76
| 1 | Strong Buy |
| 2 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.63B USD | Price to earnings Ratio - | 1Y Target Price 76 |
Price to earnings Ratio - | 1Y Target Price 76 | ||
Volume (30-day avg) 4 | Beta 1.34 | 52 Weeks Range 28.49 - 77.46 | Updated Date 03/2/2026 |
52 Weeks Range 28.49 - 77.46 | Updated Date 03/2/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -9.94 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2026-02-25 | When - | Estimate 0.6869 | Actual 0.63 |
Profitability
Profit Margin -14.31% | Operating Margin (TTM) 15.21% |
Management Effectiveness
Return on Assets (TTM) 8.91% | Return on Equity (TTM) -133.66% |
Valuation
Trailing PE - | Forward PE 9.97 | Enterprise Value 3798589224 | Price to Sales(TTM) 2.25 |
Enterprise Value 3798589224 | Price to Sales(TTM) 2.25 | ||
Enterprise Value to Revenue 2.75 | Enterprise Value to EBITDA 18.15 | Shares Outstanding 35964032 | Shares Floating 35492583 |
Shares Outstanding 35964032 | Shares Floating 35492583 | ||
Percent Insiders 1.42 | Percent Institutions 106.02 |
Upturn AI SWOT
Ingevity Corp

Company Overview
History and Background
Ingevity Corporation was formed in 2015 as a spin-off from its former parent, WestRock Company (originally MeadWestvaco). It operates as a global specialty chemical company. Its heritage traces back to the early 20th century through its predecessor companies, focusing on renewable resources and innovative chemical solutions. Key milestones include the spin-off, subsequent strategic acquisitions, and consistent development of its product portfolios for various end markets.
Core Business Areas
- Performance Chemicals: This segment focuses on producing specialty chemicals derived from pine chemicals, primarily used in automotive, industrial, and agricultural applications. Products include resins, solvents, and modifiers that enhance the performance and sustainability of various end products.
- Pavement Technologies: This segment is a leading producer of engineered additives for asphalt pavements, improving their performance, durability, and sustainability. Products include asphalt rejuvenators, modifiers, and other additives that extend pavement life and reduce environmental impact.
Leadership and Structure
Ingevity is led by a management team with extensive experience in the chemical industry. The company operates through its two main business segments, Performance Chemicals and Pavement Technologies, with a global manufacturing and sales presence.
Top Products and Market Share
Key Offerings
- Description: This segment offers a range of products derived from renewable pine chemicals. Key product lines include asphalt additives (e.g., Novvayu00ae), fuel additives (e.g., Perennialu00ae), and industrial resins and solvents (e.g., Induloru00ae). These are used in applications like tires, coatings, inks, adhesives, and fuels. Competitors include companies like Kraton Corporation, Eastman Chemical Company, and various specialized chemical producers depending on the specific product line. Market share data for specific sub-segments is proprietary but Ingevity holds strong positions in certain niche markets, particularly in pine-chemical derivatives.
- Segment Name: Performance Chemicals
- Description: This segment provides innovative solutions for the asphalt pavement industry. Its flagship products include asphalt rejuvenators (e.g., Evothermu00ae), warm-mix asphalt technologies, and pavement preservation additives. These products aim to improve pavement performance, reduce construction costs, and enhance sustainability. Major competitors include companies like Arkema, Dow Inc., and various regional asphalt additive suppliers. Ingevity is a recognized leader in asphalt modification and rejuvenation technologies.
- Segment Name: Pavement Technologies
Market Dynamics
Industry Overview
Ingevity operates in the specialty chemicals and materials sector, which is influenced by global economic conditions, regulatory trends, and demand from key end markets such as automotive, construction, and industrial manufacturing. The industry is increasingly focused on sustainability, performance enhancement, and innovative solutions derived from renewable resources.
Positioning
Ingevity is positioned as a leader in its niche markets, particularly in pine chemical derivatives and asphalt technologies. Its competitive advantages lie in its proprietary technologies, strong customer relationships, integrated supply chain for pine chemicals, and focus on sustainable solutions. The company benefits from its ability to leverage its renewable feedstock and develop high-performance products.
Total Addressable Market (TAM)
The TAM for Ingevity's products is significant and spans multiple industries. The global specialty chemicals market is valued in the hundreds of billions of dollars. The asphalt additives and pavement technologies market is estimated to be in the billions of dollars, driven by infrastructure spending and the need for more durable and sustainable roads. Ingevity is well-positioned to capture a meaningful share of these markets through its specialized offerings and innovation.
Upturn SWOT Analysis
Strengths
- Proprietary technologies and patented products
- Strong market positions in niche segments (pine chemicals, asphalt modifiers)
- Focus on sustainable and renewable solutions
- Integrated supply chain for pine chemicals
- Long-standing customer relationships
- Experienced management team
Weaknesses
- Vulnerability to raw material price fluctuations (e.g., crude tall oil, crude sulfate turpentine)
- Dependence on key end markets (automotive, construction)
- Limited diversification across a very broad range of chemical applications
- Competition from larger, more diversified chemical companies
Opportunities
- Growing demand for sustainable and bio-based chemicals
- Increasing global infrastructure spending, particularly on roads
- Expansion into new geographic markets
- Development of new applications for existing technologies
- Strategic acquisitions to broaden product portfolio or market reach
Threats
- Economic downturns impacting demand from key end markets
- Increased competition and price pressure
- Stringent environmental regulations and compliance costs
- Disruption in raw material supply chains
- Technological advancements by competitors
Competitors and Market Share
Key Competitors
- Kraton Corporation (KRA)
- Eastman Chemical Company (EMN)
- Arkema (AKE.PA)
- Axalta Coating Systems Ltd. (AXTA)
Competitive Landscape
Ingevity holds a strong competitive position in its specialized markets due to its unique pine chemical derivatives and advanced asphalt technologies. Its advantage lies in its focus on sustainability and renewable resources, which is increasingly valued by customers. However, it faces competition from larger, more diversified chemical companies that may have greater R&D budgets and broader product offerings. In pavement technologies, its key advantage is its innovative rejuvenator and warm-mix technologies, offering performance and cost benefits.
Major Acquisitions
Dow Chemical's Asphalt Modification Business
- Year: 2018
- Acquisition Price (USD millions): 175
- Strategic Rationale: This acquisition expanded Ingevity's portfolio of asphalt additives and enhanced its position in the pavement technologies market, particularly in North America and Europe. It provided new product lines and customer relationships.
Growth Trajectory and Initiatives
Historical Growth: Ingevity has experienced consistent revenue growth, particularly from its Pavement Technologies segment, which has benefited from strong infrastructure spending and market adoption of its innovative products. The Performance Chemicals segment has shown resilience and steady performance, supported by its diverse applications.
Future Projections: Analyst projections for Ingevity generally indicate continued revenue growth, driven by ongoing infrastructure investment, expansion in its automotive and industrial applications, and its focus on sustainable solutions. Expected EPS growth is also positive, supported by operational improvements and new product development.
Recent Initiatives: Recent strategic initiatives include focusing on expanding its Pavement Technologies business, developing new sustainable chemical solutions, optimizing its manufacturing footprint, and pursuing bolt-on acquisitions to enhance its product portfolio and market access.
Summary
Ingevity Corp is a well-positioned specialty chemical company with strong franchises in Performance Chemicals and Pavement Technologies. Its focus on renewable resources and innovative solutions provides a competitive edge. Growth is driven by increasing infrastructure spending and demand for sustainable products. The company needs to manage raw material volatility and competition from larger players while continuing to invest in R&D and strategic expansion.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Ingevity Corporation Investor Relations
- SEC Filings (10-K, 10-Q)
- Industry Analysis Reports
- Financial News and Data Providers (e.g., Bloomberg, Refinitiv)
Disclaimers:
This JSON output is generated based on publicly available information and is for informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. Market share data is estimated and proprietary information may not be fully available.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Ingevity Corp
Exchange NYSE | Headquaters North Charleston, SC, United States | ||
IPO Launch date 2016-05-02 | President, CEO & Director Mr. David H. Li | ||
Sector Basic Materials | Industry Specialty Chemicals | Full time employees 1600 | Website https://www.ingevity.com |
Full time employees 1600 | Website https://www.ingevity.com | ||
Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats. This segment also produces other activated carbon products for food, water, beverage, and chemical purification applications. The Performance Chemicals segment consists of road technologies and industrial specialties. This segment's products are used in pavement construction, pavement preservation, pavement reconstruction and recycling, road markings, agrochemical dispersants, lubricants, certain adhesives, rubber, and other industrial uses. The Advanced Polymer Technologies segment produces caprolactone and caprolactone-based specialty polymers for use in coatings, resins, elastomers, adhesives, bioplastics, and medical devices. It serves automotive parts manufacturers through sales representatives, third-party sales representatives, and distributors. The company was formerly known as WestRock Company, Specialty Chemicals Business and changed its name to Ingevity Corporation in September 2015. Ingevity Corporation was founded in 1964 and is headquartered in North Charleston, South Carolina.

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