Ingevity Corp logo

Ingevity Corp(NGVT)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$72.74
09/28/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for NGVT

09/28/2026: NGVT (1-star) is currently NOT-A-BUY. Pass it for now.

Ingevity Corp is a specialty chemical company known for its proprietary activated carbon and bio-based performance chemicals. The business holds a strong position in automotive emission control, while its pavement technology segment provides a critical growth opportunity in infrastructure. The primary investment story centers on the company’s ability to pivot toward high-growth industrial and infrastructure markets as the automotive industry transitions to electric vehicles. Key risks include exposure to volatile raw material costs, cyclical industrial demand, and the long-term decline of internal combustion engine vehicles. The stock may suit investors seeking exposure to specialty chemical innovation, though it requires monitoring of management's execution on segment diversification.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitGrowth depends on the successful pivot to non-automotive sectors which offsets potential decline in legacy segments.
Momentum investorMixed fitMomentum is conditional on positive trends in the industrial and pavement chemical business cycles.
Value investorStrong fitCurrent valuations often reflect cyclical challenges in the industrial sector, potentially offering an entry point for value-oriented investors.
Dividend investorWeak fitThe company does not emphasize dividend payments, focusing instead on capital reinvestment.
Low-risk investorWeak fitThe stock exhibits volatility associated with industrial and automotive sector cycles.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighRaw material costs like crude tall oil can swing significantly, impacting margins.
Valuation riskMediumThe stock price is sensitive to market sentiment regarding the transition to electric vehicles.
Competition risk (specialty chemicals)MediumThe company faces pressure from both large diversified chemical firms and specialized competitors.
Business qualityMediumWhile the core technology is proprietary, concentration in cyclical end-markets creates periodic earnings pressure.
Dividend incomeLow / noneInvestors seeking immediate income will find the lack of a significant dividend unattractive.
Execution riskMediumSuccessful growth depends on scaling new pavement and industrial technologies effectively.

Price Behavior

Steady Uptrend
PRICE PATH

Steady Uptrend

The stock demonstrates consistent and steady upward price momentum.

Smooth
PRICE STABILITY

Smooth

The stock has moved along a generally orderly path with only modest fluctuations.

Analysis of Past Performance

Type Stock
Historic Profit -36.17%
Avg. Invested days 34
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 1.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/28/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
NGVT receives a 4-star rating, supported by solid unit economics, and solid company fundamentals. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
NGVT has solid overall fundamentals (4 stars), with moderate financial health, solid growth momentum, and solid ownership. In FY2025 versus FY2024, strong earnings growth (+61.2%) and strong cash generation (FCF margin 23.4%) are partially offset by negative revenue growth (-17.0%), weak profitability (net margin -14.3%), very low insider ownership of 0.77%.

Financial Health Rating

★★★★★
NGVT's financial health is supported by solid efficiency, including operating-expense and cost-of-revenue discipline (opex 17.1% of revenue). Profitability is moderate (3 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Free-cash-flow growth is NGVT's strongest growth driver at +436.3% FY2025 versus FY2024 (strong, 5 stars). By comparison, earnings growth (+61.2%, strong) is also strong, while revenue growth (-17.0%, negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 105.4% and approximately 99.1% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership is only 0.77%, which materially reduces the ownership score.

Top 5 Institutional Investors

BlackRock Inc 15.41%
Vanguard Portfolio Management, LLC 6.33%
Vanguard Capital Management, LLC 4.60%
State Street Corp 4.24%
American Century Companies Inc 3.70%

Unit Economics (Per $1K Revenue)

★★★★★
NGVT generates approximately $395 of gross profit, $224 of operating income, and $234 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Solid margins and weak cash conversion support the rating, although capital efficiency remains solid.

Economic Dimensions

★★★★★
Effective Tax Rate: -5.77% (Tax Credit)

Quantitative Style Profile

★★★★★
NGVT has a high-quality, liquid profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

Quality TiltSmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 2.51B USD
Price to earnings Ratio 102.82
1Y Target Price 89
Price to earnings Ratio 102.82
1Y Target Price 89
Volume (30-day avg) 245.5K shares
Beta 1.17
52 Weeks Range 45.85 - 79.29
Updated Date 09/27/2026
52 Weeks Range 45.85 - 79.29
Updated Date 09/27/2026
Dividends yield (FY) -
Basic EPS (TTM) 0.71

How Company Makes Money

Business areaWhat it includesRetail investor read
Performance MaterialsActivated carbon products for automotive vapor systems and industrial purification.This is a specialized, high-margin business that is closely linked to automotive environmental standards.
Performance ChemicalsBio-based chemicals for adhesives, asphalt additives, and industrial lubricants.This segment provides more diversified revenue from infrastructure and industrial markets, helping balance out auto exposure.
GeographyGlobal sales with significant operations in North America and an expanding presence in international markets.The company has a global footprint, meaning it is sensitive to international industrial growth and trade dynamics.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 102.82
Forward PE 9.97
Enterprise Value 3.61B
Price to Sales(TTM) 2.16
Enterprise Value 3.61B
Price to Sales(TTM) 2.16
Enterprise Value to Revenue 3.11
Enterprise Value to EBITDA 17.42
Shares Outstanding 34.38M
Shares Floating 34.06M
Shares Outstanding 34.38M
Shares Floating 34.06M
Percent Insiders 0.77
Percent Institutions 105.37

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Ingevity Corp

Exchange NYSE
Headquarters 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 1400
Full time employees 1400

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.