Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Ingevity Corp.NGVT · chemicals | |
|---|---|
| Grade |  B/Con the B/C boundary of 331 graded peers; percentile 40.0, sampling error 2.7 points; lower is stronger |
| Rank | 127 of 331 |
| Profitability | Bpercentile 23.2 |
| Solvency | Cpercentile 56.0 |
| Growth and financing | C/Dpercentile 60.5 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.7B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress |
| Inputs computable | 11 of 14 |
| Graded from | filings received through Feb 26, 2026225 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $71.112026-10-08; market equity $2.4B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 26, 2026; the document on sec.gov.
Ingevity Corporation provides products and technologies that purify, protect, and enhance the world around us. Through a diverse team of talented and experienced people, we develop, manufacture, and bring to market solutions that are largely renewably sourced and help customers solve complex problems while making the world more sustainable. Our products are used in a variety of demanding applications, including automotive gasoline vapor emissions control systems, food, water and chemical filtration, asphalt paving, agrochemical dispersants, bioplastics, coatings, elastomers, and paint for road markings.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 23.2 | |||||||
| Gross profitability | 28.0% | [1,3] | 21.3% | 25.1 | 359 | 2025-12-31 | |
| Return on invested capital | not computable | 9.5% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Accruals ratio | (27.1%) | [1,4-6] | (4.2%) | 6.5 | 400 | 2025-12-31 | |
| Gross margin stability, five years | 1.9 pts | [2-3,7-14] | 2.2 pts | 38.0 | 301 | 2025-12-31 | |
| Solvency, sleeve percentile 56.0 | |||||||
| Twelve-month failure probability | not computable | 0.05% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | 2.97 | [1,15-20] | 3.41 | 47.7 | 301 | 2025-12-31 | |
| Net debt to EBITDA | 2.06x | [18,21-23] | 1.88x | 57.7 | 150 | 2025-12-31 | |
| Interest coverage | 5.35x | [18,24] | 4.16x | 40.2 | 88 | 2025-12-31 | |
| Current ratio | 1.33x | [15-16] | 2.20x | 78.2 | 423 | 2025-12-31 | |
| Growth and financing, sleeve percentile 60.5 | |||||||
| Revenue growth, three-year compound | (11.2%) | [2,8,10,12] | 1.2% | 91.1 | 350 | 2025-12-31 | |
| Free cash flow growth, three-year compound | 17.0% | [5,25-31] | 12.6% | 44.4 | 179 | 2025-12-31 | |
| Reinvestment rate | not computable | 24.3% | |||||
| pretax income must exceed the validity floor and imply a 0%-100% tax rate | |||||||
| Asset growth, three years | (15.5%) | [1,6,32-33] | 2.9% | 92.4 | 369 | 2025-12-31 | |
| Net share issuance, one year | (2.9%) | [34-35] | 0.0% | 14.1 | 321 | 2026-02-18 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.076; sampling error 2.7 percentile points on 331 peers.
Among 331 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 122 | RPM International (RPM) RPM International (RPM) B/Con the B/C boundary; percentile 38.5 NYSE · Paints, Varnishes, Lacquers, Enamels & Allied Prods market equity $12.7B; last close $99.39 No active warnings; 8 of 14 inputs | 38.5 | B/C | |
| 123 | United States Antimony Corp. (UAMY) United States Antimony Corp. (UAMY) B/Con the B/C boundary; percentile 38.6 NYSE · Primary Smelting & Refining of Nonferrous Metals market equity $556.8M; last close $3.71 Warnings: dilution, fortress balance sheet; 9 of 14 inputs | 38.6 | B/C | dilution, fortress balance sheet |
| 124 | Gibraltar Industries, Inc. (ROCK) Gibraltar Industries, Inc. (ROCK) B/Con the B/C boundary; percentile 39.0 Nasdaq · Steel Works, Blast Furnaces & Rolling & Finishing Mills market equity $1.1B; last close $37.45 Warnings: fortress balance sheet; 11 of 14 inputs | 39.0 | B/C | fortress balance sheet |
| 125 | Lightwave Logic, Inc. (LWLG) Lightwave Logic, Inc. (LWLG) B/Con the B/C boundary; percentile 39.4 Nasdaq · Miscellaneous Plastics Products market equity $787.8M; last close $5.13 No active warnings; 7 of 14 inputs | 39.4 | B/C | |
| 126 | OIL States International, Inc. (OIS) OIL States International, Inc. (OIS) B/Con the B/C boundary; percentile 39.8 NYSE · Oil & Gas Field Machinery & Equipment market equity $494.6M; last close $8.19 Warnings: fortress balance sheet; 9 of 14 inputs | 39.8 | B/C | fortress balance sheet |
| 127 | Ingevity Corp. (NGVT) Ingevity Corp. (NGVT) B/Con the B/C boundary; percentile 40.0 NYSE · Chemicals & Allied Products market equity $2.5B; last close $71.11 No active warnings; 11 of 14 inputs | 40.0 | B/C | |
| 128 | Virco MFG Corporation (VIRC) Virco MFG Corporation (VIRC) B/Con the B/C boundary; percentile 40.2 Nasdaq · Public Bldg & Related Furniture market equity $102.5M; last close $6.53 Warnings: fortress balance sheet; 10 of 14 inputs | 40.2 | B/C | fortress balance sheet |
| 129 | Bloom Energy Corp. (BE) Bloom Energy Corp. (BE) B/Con the B/C boundary; percentile 40.6 NYSE · Electrical Industrial Apparatus market equity $77.6B; last close $272.74 No active warnings; 9 of 14 inputs | 40.6 | B/C | |
| 130 | Ecolab Inc. (ECL) Ecolab Inc. (ECL) B/Con the B/C boundary; percentile 40.6 NYSE · Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics market equity $79.0B; last close $281.68 No active warnings; 13 of 14 inputs | 40.6 | B/C | |
| 131 | Generac Holdings Inc. (GNRC) Generac Holdings Inc. (GNRC) B/Con the B/C boundary; percentile 40.9 NYSE · Motors & Generators market equity $13.2B; last close $224.50 No active warnings; 12 of 14 inputs | 40.9 | B/C | |
| 132 | Friedman Industries Inc. (FRD) Friedman Industries Inc. (FRD) B/Con the B/C boundary; percentile 41.3 Nasdaq · Steel Works, Blast Furnaces & Rolling & Finishing Mills market equity $301.9M; last close $43.02 No active warnings; 8 of 14 inputs | 41.3 | B/C |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | B/C | 39.0 | 2204 |
| sector peers, equal sleeves (the grade) | B/C | 40.0 | 331 |
| same exchange, equal sleeves | B/C | 40.0 | 984 |
| sector peers, equal inputs | C | 46.4 | 331 |
Each letter is one fifth of the 331 graded peers, about 66 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 25.5% | 13.8% | 61 | hotter than 61 of 100 peers |
| Distance from 52-week high | (8.3%) | (24.2%) | 89 | closer to its high than 89 of 100 peers |
| EBIT to enterprise value | 12.3% | 3.9% | 94 | pricier than 6 of 100 peers |
| Free cash flow yield | 11.1% | 3.2% | 91 | pricier than 9 of 100 peers |
| Book value to price | 0.02 | 0.39 | 5 | pricier than 95 of 100 peers |
| Sales to price | 0.48 | 0.57 | 43 | pricier than 57 of 100 peers |
| Composite equity issuance, five years | (16.3%) | (9.9%) | 31 | more equity-funded than 31 of 100 peers |
| Relative strength against the sector, log excess return | 0.06 | (0.02) | 58 | ahead of 58 of 100 peers |
Inputs: market equity $2.5B; EBIT $418.7M; free cash flow $273.5M; book equity $46.9M; sales $1.2B; debt $1.1B; cash $97.4M[36].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 6 of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | (8.3%) | ✗ fail[4,6] |
| Operating cash flow above zero | $331.2M | ✓ pass[5] |
| Return on assets improved | 8.1 pts | ✓ pass[4,6,32,37] |
| Operating cash flow exceeds net income | $498.3M | ✓ pass[4-5] |
| Long-term leverage fell | 5.6 pts | ✗ fail[1,6,21,32,38] |
| Current ratio improved | (53.7 pts) | ✗ fail[15-16,39-40] |
| No new shares issued | (2.9%) | ✓ pass[34-35] |
| Gross margin improved | 0.8 pts | ✓ pass[2-3,7-8] |
| Asset turnover improved | 12.0 pts | ✓ pass[2,6,8,32] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $97.4M[41] |
| Operating cash flow, four quarters | $211.0M[5,41-45] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 71 |
| 10-Q received Jul 30, 2026 | |
| Median daily dollar volume | $16.9M |
| 63 sessions | |
| Days since newest grade input | 225 |
Downloads [top]
|
Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.7B | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.2B | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $461.5M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 4 | net income | us-gaap:NetIncomeLoss | -$167.1M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 5 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $331.2M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 6 | assets | us-gaap:Assets | $2.0B | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 7 | gross profit | us-gaap:GrossProfit | $464.8M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 8 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.2B | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 9 | gross profit | us-gaap:GrossProfit | $445.0M | 2023-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 10 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.2B | 2023-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 11 | gross profit | us-gaap:GrossProfit | $570.1M | 2022-12-31 | 2025-02-19 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.7B | 2022-12-31 | 2025-02-19 | 10-K | filing · viewer · series |
| 13 | gross profit | us-gaap:GrossProfit | $512.8M | 2021-12-31 | 2024-02-22 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.4B | 2021-12-31 | 2024-02-22 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $454.2M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $341.3M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $404.9M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 18 | operating income | us-gaap:OperatingIncomeLoss | $418.7M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 19 | book equity | us-gaap:StockholdersEquity | $29.7M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 20 | liabilities | us-gaap:Liabilities | $1.6B | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 21 | total debt | us-gaap:LongTermDebtAndCapitalLeaseObligations | $1.2B | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 22 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $78.1M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 23 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $106.4M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 24 | interest expense | us-gaap:InterestExpense | $78.3M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 25 | capital expenditure | us-gaap:PaymentsToAcquireProductiveAssets | $57.7M | 2025-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 26 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $128.6M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 27 | capital expenditure | us-gaap:PaymentsToAcquireProductiveAssets | $77.6M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 28 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $205.1M | 2023-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 29 | capital expenditure | us-gaap:PaymentsToAcquireProductiveAssets | $109.8M | 2023-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $313.4M | 2022-12-31 | 2025-02-19 | 10-K | filing · viewer · series |
| 31 | capital expenditure | us-gaap:PaymentsToAcquireProductiveAssets | $142.5M | 2022-12-31 | 2025-02-19 | 10-K | filing · viewer · series |
| 32 | assets | us-gaap:Assets | $2.6B | 2023-12-31 | 2025-02-19 | 10-K | filing · viewer · series |
| 33 | assets | us-gaap:Assets | $2.7B | 2022-12-31 | 2024-02-22 | 10-K | filing · viewer · series |
| 34 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 35,291,884 | 2026-02-18 | 2026-02-26 | 10-K | filing · viewer · series |
| 35 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 36,351,236 | 2025-02-14 | 2025-02-19 | 10-K | filing · viewer · series |
| 36 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 34,377,922 | 2026-07-24 | 2026-07-30 | 10-Q | filing · viewer · series |
| 37 | net income | us-gaap:NetIncomeLoss | -$430.3M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 38 | long term debt | us-gaap:LongTermDebtAndCapitalLeaseObligations | $1.3B | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 39 | current assets | us-gaap:AssetsCurrent | $493.2M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 40 | current liabilities | us-gaap:LiabilitiesCurrent | $264.1M | 2024-12-31 | 2026-02-26 | 10-K | filing · viewer · series |
| 41 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $97.4M | 2026-06-30 | 2026-07-30 | 10-Q | filing · viewer · series |
| 42 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$15.8M | 2026-06-30 | 2026-07-30 | 10-Q | filing · viewer · series |
| 43 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$2.0M | 2026-03-31 | 2026-05-07 | 10-Q | filing · viewer · series |
| 44 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $234.1M | 2025-09-30 | 2025-11-06 | 10-Q | filing · viewer · series |
| 45 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $104.4M | 2025-06-30 | 2026-07-30 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 40.0 is 0.0 points from the nearest band edge; sampling error is 2.7 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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