Ecovyst (ECVT) financial statements
Ecovyst reported revenue of $724M in fiscal 2025, down 4.2% a year over 9 years.
Net income was -$71M and the operating margin 9.0%, against 7.7% in 2016.
Free cash flow was $70M, and the company returned $47M in net buybacks.
The diluted share count rose 49% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ecovyst's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.5B | $1.2B | $533M | $496M | $611M | $820M | $585M | $598M | $724M |
| Cost of revenue | $810M | $1.1B | $926M | $366M | $345M | $435M | $596M | $418M | $435M | $565M |
| Gross profit | $254M | $377M | $303M | $167M | $151M | $177M | $225M | $166M | $163M | $158M |
| Research and development | $7M | $14M | $14M | $7M | $7M | $7M | $7M | $8M | $7M | — |
| Selling, general and admin | $110M | $147M | $131M | $84M | $82M | $98M | $85M | $61M | $65M | $66M |
| Operating income | $82M | $166M | $156M | $66M | $52M | $55M | $104M | $90M | $85M | $65M |
| Interest expense | $140M | $179M | $91M | $67M | $50M | $37M | $37M | $45M | $36M | $34M |
| Pre-tax income | -$69M | -$61M | $84M | $43M | $2M | $14M | $95M | $57M | $45M | $26M |
| Income tax | $10M | -$119M | $34M | $12M | -$52M | $12M | $25M | $9M | -$299,000 | $19M |
| Net income | -$80M | $58M | $58M | $80M | -$279M | -$140M | $74M | $71M | -$7M | -$71M |
| EPS (diluted) | -$1.02 | $0.52 | $0.43 | $0.59 | -$2.04 | -$1.02 | $0.55 | $0.60 | -$0.06 | -$0.61 |
| Diluted shares | 78M | 112M | 135M | 136M | 136M | 138M | 135M | 119M | 117M | 116M |
| Gross margin | 23.9% | 25.6% | 24.7% | 31.4% | 30.4% | 28.9% | 27.4% | 28.5% | 27.3% | 21.8% |
| Operating margin | 7.7% | 11.3% | 12.7% | 12.4% | 10.4% | 8.9% | 12.7% | 15.3% | 14.2% | 9.0% |
| Net margin | -7.5% | 3.9% | 4.7% | 14.9% | -56.2% | -22.9% | 9.0% | 12.2% | -1.1% | -9.8% |
Balance sheet
Fiscal years, from Ecovyst's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $71M | $66M | $37M | $36M | $113M | $141M | $111M | $88M | $131M | $197M |
| Receivables | $161M | $193M | $197M | $140M | $46M | $81M | $75M | $81M | $53M | $85M |
| Inventory | $227M | $262M | $265M | $138M | $53M | $54M | $44M | $45M | $18M | $27M |
| Total current assets | $493M | $549M | $559M | $569M | $429M | $292M | $268M | $246M | $304M | $319M |
| Property, plant and equipment | $1.2B | $1.2B | $1.2B | $1.0B | $592M | $596M | $585M | $577M | $459M | $481M |
| Goodwill | $1.2B | $1.3B | $970M | $391M | $392M | $406M | $403M | $404M | $327M | $327M |
| Total assets | $4.3B | $4.4B | $4.3B | $4.3B | $3.2B | $1.9B | $1.9B | $1.8B | $1.8B | $1.3B |
| Total current liabilities | $242M | $288M | $256M | $270M | $202M | $145M | $129M | $119M | $115M | $121M |
| Long-term debt | $2.5B | $2.2B | $2.1B | $1.8B | $1.4B | $873M | $866M | $859M | $852M | $393M |
| Total liabilities | $3.2B | $2.8B | $2.7B | $2.5B | $1.9B | $1.2B | $1.2B | $1.1B | $1.1B | $658M |
| Shareholders' equity | $1.0B | $1.6B | $1.7B | $1.8B | $1.3B | $741M | $707M | $705M | $700M | $603M |
| Net debt | $2.5B | $2.2B | $2.1B | $1.8B | $1.3B | $741M | $764M | $780M | $729M | $195M |
Cash flow
Fiscal years, from Ecovyst's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $123M | $165M | $249M | $268M | $224M | $130M | $187M | $138M | $150M | $140M |
| Capital spending | $121M | $140M | $112M | $55M | $55M | $60M | $59M | $59M | $56M | $70M |
| Free cash flow | $1M | $25M | $137M | $213M | $169M | $70M | $128M | $79M | $94M | $70M |
| Stock-based compensation | $5M | $9M | $18M | $13M | $17M | $32M | $21M | $13M | $11M | $10M |
| Dividends paid | — | — | $0 | $0 | $244M | $436M | $0 | $0 | — | — |
| Share buybacks (net) | — | — | — | — | — | $0 | -$137M | -$79M | -$5M | -$47M |
| Net borrowing | -$479M | -$739M | -$1.4B | -$217M | — | — | — | — | — | — |
| Free cash flow margin | 0.1% | 1.7% | 11.1% | 39.9% | 34.0% | 11.4% | 15.6% | 13.4% | 15.8% | 9.7% |
| Dividends per share | — | — | — | — | $1.79 | $3.16 | — | — | — | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ECVT.
Open ECVT in InvestinglyQuestions
What was Ecovyst's revenue in 2025?
$724M in fiscal 2025, from its 10-K filing.
How much free cash flow does Ecovyst generate?
$70M in fiscal 2025 (operating cash flow minus capital spending).
From Ecovyst's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.