{ "ok": true, "cik": "1674862", "ticker": "ASH", "name": "ASHLAND INC.", "filings": [ { "form": "8-K", "filed": "2026-09-25", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1674862/000119312526402900/0001193125-26-402900-index.htm" }, { "form": "8-K", "filed": "2026-07-31", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1674862/000119312526328710/0001193125-26-328710-index.htm" }, { "form": "10-Q", "filed": "2026-07-29", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1674862/000119312526324226/0001193125-26-324226-index.htm" }, { "form": "8-K", "filed": "2026-07-28", "items": [ "1.01 Entry into a Material Definitive Agreement", "5.02 Departure or Election of Directors; Appointment of Officers", "7.01 Regulation FD Disclosure" ], "url": "https://www.sec.gov/Archives/edgar/data/1674862/000119312526321247/0001193125-26-321247-index.htm" }, { "form": "8-K", "filed": "2026-07-28", "items": [ "2.02 Results of Operations and Financial Condition", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1674862/000119312526321238/0001193125-26-321238-index.htm" }, { "form": "8-K", "filed": "2026-05-29", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1674862/000119312526246229/0001193125-26-246229-index.htm" } ], "events12m": 11, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-07-28", "url": "https://www.sec.gov/Archives/edgar/data/1674862/000119312526321247/0001193125-26-321247-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001674862.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1674862" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up ASHLAND INC. ($ASH). Last filing: 8-K (1.01 Entry into a Material Definitive Agreement), 2026-09-25. 11 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-09-30", "revenue": 1824000000, "revenueGrowth1y": -0.13677236157122574, "revenueGrowthPerYear": -0.03587321113723019, "yearsOfData": 5, "operatingMargin": -0.42489035087719296, "operatingMarginPrior": -0.012304779933743492, "netMargin": -0.46326754385964913, "operatingCashFlow": null, "capitalSpending": 98000000, "freeCashFlow": null, "researchAndDevelopment": 54000000, "researchShareOfRevenue": 0.029605263157894735, "cash": 215000000, "longTermDebt": 1384000000, "longTermDebtChange": 0.02594514455151975, "revenueHistory": [ { "fiscalYearEnd": "2021-09-30", "revenue": 2111000000 }, { "fiscalYearEnd": "2022-09-30", "revenue": 2391000000 }, { "fiscalYearEnd": "2023-09-30", "revenue": 2191000000 }, { "fiscalYearEnd": "2024-09-30", "revenue": 2113000000 }, { "fiscalYearEnd": "2025-09-30", "revenue": 1824000000 } ], "totalEquity": 1904000000, "totalAssets": 4611000000, "equityRatio": 0.4129256126653654, "returnOnEquity": -0.44380252100840334, "dividendsPaid": 76000000, "payoutRatio": null, "dividendPerShare": 1.64, "dividendYearsRising": 7, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": -18.23, "sharesOutstanding": 46000000, "bookValuePerShare": 41.391304347826086, "revenuePerShare": 39.65217391304348, "range80": { "low": 1362044697.730891, "high": 1840811593.7296467, "baseline": 1620579997.206604, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.11654822433093548, "classVolatility": 0.07701947805587882, "volatility": 0.09878129528077181 }, "ifPaceHeld": { "low": 1362044697.730891, "high": 1840811593.7296467 } }, "edgarette": "🔖 Exposure: revenue $1.8B (FY2025), total debt $1.4B. Experience: revenue down 13.7% on the year, down 3.6% a year over 4 years; operating margin -42.5%, down from -1.2%. Soundness: equity 41.3% of assets, return on equity -44.4%, dividend per share up 7 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $1.4B and $1.8B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $1.2B to $2.1B. A statistical range, not company guidance. Against peers (30 filers, $50M+ revenue, its industry group): operating margin -42.5% against a 1.4% median; growth -13.7% against 0.9%.", "peers": { "sic": 5160, "sicDescription": "Wholesale-Chemicals & Allied Products", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "51", "growth": [ 0.0089, 31 ], "opMargin": [ 0.014, 30 ], "equityRatio": [ 0.2989, 28 ], "returnOnEquity": [ -0.0465, 21 ], "payoutRatio": [ 0.2988, 10 ] }, "summary": "Ashland (ASH) saw revenue fall 13.7% in FY2025 to $1.8 billion, operating margin -42.5% against a 1.4% median for wholesale-chemicals & allied products, equity 41.3% of assets, and dividend per share up 7 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
ASHLAND INC. against its own record and its peers
Operating marginPeer median 1.4%-42.5%Revenue, on the yearPeer median 0.9%-13.7%Equity of assetsPeer median 29.9%41.3%Return on equityPeer median -4.7%-44.4%Gold tick: the median of 21–28 peers with $50M+ revenue in wholesale-chemicals & allied products
", "chartHorizon": "
Handed back now, or kept to compound · of each dollar of profit
Handed back per share$1.64up 7 years running

Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 8, "hits": 8, "rate": 1, "method": "v4", "byYear": { "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T22:53:17.117Z", "hash": "d5db0dad47df42dc", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Ashland (ASH) saw revenue fall 13.7% in FY2025 to $1.8 billion, operating margin -42.5% against a 1.4% median for wholesale-chemicals & allied products, equity 41.3% of assets, and dividend per share up 7 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-09-30", "revenue": 1824000000, "totalDebt": 1384000000, "cash": 215000000 }, "experience": { "revenueGrowth1y": -0.13677236157122574, "revenueGrowthPerYear": -0.03587321113723019, "operatingMargin": -0.42489035087719296, "operatingMarginPrior": -0.012304779933743492, "netMargin": -0.46326754385964913, "freeCashFlow": null }, "soundness": { "equityRatio": 0.4129256126653654, "returnOnEquity": -0.44380252100840334, "payoutRatio": null, "dividendPerShare": 1.64, "dividendYearsRising": 7, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 5160, "sicDescription": "Wholesale-Chemicals & Allied Products", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "51", "growth": [ 0.0089, 31 ], "opMargin": [ 0.014, 30 ], "equityRatio": [ 0.2989, 28 ], "returnOnEquity": [ -0.0465, 21 ], "payoutRatio": [ 0.2988, 10 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-07-28", "url": "https://www.sec.gov/Archives/edgar/data/1674862/000119312526321247/0001193125-26-321247-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 1362044697.730891, "high": 1840811593.7296467, "baseline": 1620579997.206604, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.11654822433093548, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.09878129528077181, "k": 3 }, "stress": { "low": 1220156533.1698675, "high": 2055092082.2812095, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 8, "hits": 8, "rate": 1, "method": "v4", "byYear": { "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T22:53:17.117Z", "hash": "d5db0dad47df42dc", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001674862.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1674862" }, "speedCash": { "fiscalYear": 2025, "cashConversion": null, "growth3y": -0.0863, "volatility": 0.1165, "paysDividend": true, "raisedDividend": false, "equityRatio": 0.4156, "quadrant": { "code": "sj", "label": "Slow and jumpy", "plain": "growing slower than its size class, with revenue that swings more" }, "compass": null, "band": "$1B-10B", "cashPctInClass": null, "growthPctInClass": 8, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "slowjumpy", "text": "slow and jumpy: growing slower than its size class, with revenue that swings more" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-09-30", "operating": null, "investing": -3000000, "financing": -179000000, "capitalSpending": 98000000, "free": null, "trend": [ { "fiscalYearEnd": "2021-09-30", "operating": null, "free": null }, { "fiscalYearEnd": "2022-09-30", "operating": null, "free": null }, { "fiscalYearEnd": "2023-09-30", "operating": null, "free": null }, { "fiscalYearEnd": "2024-09-30", "operating": null, "free": null }, { "fiscalYearEnd": "2025-09-30", "operating": null, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-09-30", "cash": 215000000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 4611000000, "ladder": null, "currentRatio": 2.85, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": null, "growth3y": -0.0863, "volatility": 0.1165, "paysDividend": true, "raisedDividend": false, "equityRatio": 0.4156, "quadrant": { "code": "sj", "label": "Slow and jumpy", "plain": "growing slower than its size class, with revenue that swings more" }, "compass": null, "band": "$1B-10B", "cashPctInClass": null, "growthPctInClass": 8, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "slowjumpy", "text": "slow and jumpy: growing slower than its size class, with revenue that swings more" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-09-30", "operating": null, "investing": -3000000, "financing": -179000000, "capitalSpending": 98000000, "free": null, "trend": [ { "fiscalYearEnd": "2021-09-30", "operating": null, "free": null }, { "fiscalYearEnd": "2022-09-30", "operating": null, "free": null }, { "fiscalYearEnd": "2023-09-30", "operating": null, "free": null }, { "fiscalYearEnd": "2024-09-30", "operating": null, "free": null }, { "fiscalYearEnd": "2025-09-30", "operating": null, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-09-30", "cash": 215000000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 4611000000, "ladder": null, "currentRatio": 2.85, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }