Basic Materials · Chemicals - Specialty
Price
$12.19
Market Cap
$1.3B
Employees
920
Beta
1.06
Avg Volume
1,888,622
CEO
Kurt J. Bitting
Business Description
Ecovyst Inc. is a global provider of specialized catalysts and related services, with operations spanning the United States, the Netherlands, the United Kingdom, and other international markets. The company's activities are organized into two primary divisions. Its Ecoservices segment focuses on recycling sulfuric acid for use in refinery alkylate production, as well as supplying new sulfuric acid for diverse applications such as mining, water purification, and various industrial processes. The Catalyst Technologies segment delivers bespoke catalyst products and process solutions to manufacturers and licensors involved in producing polyethylene and methyl methacrylate. These catalysts are crucial for manufacturing plastics utilized in products like packaging films, bottles, containers, and other molded items. Furthermore, this segment offers zeolite-based emission control catalysts, engineered to eliminate nitrogen oxides from diesel engine exhaust and extract sulfur dioxide from fuels during the refining process. Founded in 1831 and headquartered in Malvern, Pennsylvania, the company operated as PQ Group Holdings Inc. until it adopted the name Ecovyst Inc. in August 2021.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-19.66
Stock Price: $12.19
EPS (Diluted): -0.62
EPS (Diluted): -0.62
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.86
Stock Price: $12.19
Total Equity: $603.50M
Shares: 115,957,562
Total Equity: $603.50M
Shares: 115,957,562
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
9.78
Market Cap: $1.33B
Total Debt: $402.08M
Cash: $197.20M
EBITDA: $138.59M
Total Debt: $402.08M
Cash: $197.20M
EBITDA: $138.59M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$1.4B
Market Cap: $1.33B
Total Debt: $402.08M
Cash: $197.20M
Total Debt: $402.08M
Cash: $197.20M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
1.55
Stock Price: $12.19
Revenue: $723.52M
Shares: 115,957,562
Revenue: $723.52M
Shares: 115,957,562
EV/Sales (Total value vs revenue — works when P/E can't)
API1.87
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
21.8%
Gross Profit: $158.09M
Revenue: $723.52M
Revenue: $723.52M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
10.8%
Operating Income: $78.43M
Revenue: $723.52M
Revenue: $723.52M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-9.8%
Net Income: -$71.13M
Revenue: $723.52M
Revenue: $723.52M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-11.8%
Net Income: -$71.13M
Total Equity: $603.50M
Total Equity: $603.50M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
2.4%
Operating Income: $78.43M
Tax Rate: 75.6%
Equity: $603.50M
Total Debt: $402.08M
Cash: $197.20M
Tax Rate: 75.6%
Equity: $603.50M
Total Debt: $402.08M
Cash: $197.20M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.64
Current Assets: $319.40M
Current Liabilities: $120.80M
Current Liabilities: $120.80M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.67
Short-Term Debt: $9.50M
Long-Term Debt: $392.58M
Total Debt: $402.08M
Total Equity: $603.50M
Long-Term Debt: $392.58M
Total Debt: $402.08M
Total Equity: $603.50M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$6.24
Revenue: $723.52M
Shares: 115,957,562
Shares: 115,957,562
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$5.20
Total Equity: $603.50M
Shares: 115,957,562
Shares: 115,957,562
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.60
Operating CF: $140.31M
CapEx: -$70.41M
Shares: 115,957,562
CapEx: -$70.41M
Shares: 115,957,562
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $12.19
Stock Price: $12.19
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$71.13M
Net Income: -$71.13M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ECVT against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:31pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $611.2M | $820.2M | $691.1M | $704.5M | $723.5M |
| Cost of Revenue | $434.5M | $595.5M | $493.2M | $503.0M | $565.4M |
| Gross Profit | $176.7M | $224.6M | $198.0M | $201.5M | $158.1M |
| Operating Expenses | $122.1M | $120.2M | $101.3M | $103.4M | $79.7M |
| Operating Income | $54.6M | $104.4M | $96.7M | $98.1M | $78.4M |
| Net Income | -$139.9M | $73.7M | $71.2M | -$6.7M | -$71.1M |
| EBITDA | $130.7M | $211.1M | $211.3M | $133.8M | $138.6M |
| EPS | $0.01 | $0.52 | $0.60 | $-0.06 | $-0.62 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:31pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $140.9M | $110.9M | $88.4M | $146.0M | $197.2M |
| Total Current Assets | $291.7M | $267.7M | $246.0M | $303.7M | $319.4M |
| Total Assets | $1.9B | $1.9B | $1.8B | $1.8B | $1.3B |
| Current Liabilities | $145.1M | $129.4M | $119.1M | $115.1M | $120.8M |
| Long-Term Debt | $872.8M | $865.9M | $858.9M | $852.1M | $392.6M |
| Total Liabilities | $1.2B | $1.2B | $1.1B | $1.1B | $657.5M |
| Total Equity | $740.7M | $707.2M | $705.5M | $700.5M | $603.5M |
| Retained Earnings | -$315.7M | -$242.0M | -$170.9M | -$177.5M | -$248.6M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:31pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $129.9M | $186.6M | $137.6M | $149.9M | $140.3M |
| Capital Expenditure | -$60.0M | -$58.9M | -$65.3M | -$69.0M | -$70.4M |
| Free Cash Flow | $69.9M | $127.7M | $72.3M | $80.9M | $69.9M |
| Acquisitions (net) | $935.8M | -$4.2M | $0 | $0 | $526.9M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$1.5M | -$136.7M | -$78.7M | -$5.0M | -$46.9M |
| Net Change in Cash | $3.7M | -$30.0M | -$22.6M | $57.6M | $51.2M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 8:47pm (12h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$723.5M $670.0M – $753.1M
|
$977.5M $956.7M – $998.2M
|
$1.0B $949.3M – $1.1B
|
$1.1B $1.1B – $1.1B
|
| EBITDA |
$167.6M $155.2M – $174.5M
|
$226.4M $221.6M – $231.2M
|
$237.5M $219.9M – $247.2M
|
$251.0M $251.0M – $251.0M
|
| Net Income |
$46.7M $44.1M – $49.3M
|
$77.4M $72.7M – $82.1M
|
$101.6M $93.9M – $109.4M
|
$121.8M $112.5M – $131.1M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:31pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +34.2% | -15.7% | +1.9% | +2.7% |
| Gross Profit Growth | +27.2% | -11.9% | +1.8% | -21.6% |
| Operating Income Growth | +91.2% | -7.4% | +1.5% | -20.0% |
| Net Income Growth | +152.7% | -3.5% | -109.3% | -969.2% |
| EBITDA Growth | +61.6% | +0.1% | -36.7% | +3.6% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:31pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2021-08-11 | $3.20 | 2021-08-05 | 2021-08-12 | 2021-08-23 |
| 2020-12-18 | $1.80 | 2020-12-14 | 2020-12-21 | 2020-12-29 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ECVT — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30