Ashland Inc (ASH) financial statements: income statement, balance sheet and cash flow
Ashland Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Sep 30, 2025 · FY), Ashland Inc reported revenue of $1.8B (-13.7% year on year) and net income of ($845.0M) (-600.0% year on year).
Income statement
Ashland Inc income statement, fiscal years
Line item
Sep 30, 2025 · FY
Sep 30, 2024 · FY
Sep 30, 2023 · FY
Sep 30, 2022 · FY
Sales - Note P
$1.8B
$2.1B
$2.2B
$2.4B
Cost of sales - Note Q
$1.3B
$1.5B
$1.5B
$1.6B
Gross profit
$549.0M
$618.0M
$668.0M
$830.0M
Selling, general and administrative expense - Note Q
$344.0M
$404.0M
$365.0M
$393.0M
Research and development expense
$54.0M
$55.0M
$51.0M
$55.0M
Intangibles amortization expense - Note G
$63.0M
$76.0M
$93.0M
$94.0M
Equity and other income
$4.0M
$6.0M
$7.0M
$3.0M
Goodwill impairment - Note G
$706.0M
—
—
$0
Income (loss) on acquisitions and divestitures, net - Note B
($161.0M)
($115.0M)
$6.0M
$42.0M
Operating income (loss)
($775.0M)
($26.0M)
$172.0M
$333.0M
Net interest and other expense (income) - Note H
$33.0M
($24.0M)
$6.0M
$149.0M
Other net periodic benefit loss - Note L
$1.0M
$22.0M
($6.0M)
$22.0M
Income (loss) from continuing operations before income taxes
($809.0M)
($24.0M)
$160.0M
$206.0M
Income tax expense (benefit) - Note K
$13.0M
($223.0M)
($8.0M)
$25.0M
Income (loss) from continuing operations
($822.0M)
$199.0M
$168.0M
$181.0M
Income (loss) from discontinued operations, net of income taxes - Note C
($23.0M)
($30.0M)
$10.0M
$746.0M
Income (loss) from continuing operations
($17.74)
$3.99
$3.18
$3.26
Income (loss) from discontinued operations
($0.49)
($0.59)
$0.18
$13.45
Net income (loss)
-$18.23
$3.40
$3.36
$16.71
Net income (loss)
($845.0M)
$169.0M
$178.0M
$927.0M
Unrealized translation gain
$45.0M
$54.0M
$72.0M
($197.0M)
Unrealized gain (loss) on commodity hedges
$2.0M
$1.0M
($6.0M)
($1.0M)
Other comprehensive income
$47.0M
$55.0M
$66.0M
($197.0M)
Comprehensive income (loss)
($798.0M)
$224.0M
$244.0M
$730.0M
Ashland Inc income statement, quarters
Line item
Jun 30, 2026 · Q3
Mar 31, 2026 · Q2
Dec 31, 2025 · Q1
Jun 30, 2025 · Q3
Sales - Note P
$497.0M
$482.0M
$386.0M
$463.0M
Cost of sales - Note Q
$327.0M
$335.0M
$281.0M
$331.0M
Gross profit
$170.0M
$147.0M
$105.0M
$132.0M
Selling, general and administrative expense - Note Q
$99.0M
$79.0M
$86.0M
$106.0M
Research and development expense - Note Q
$15.0M
$14.0M
$13.0M
$13.0M
Intangibles amortization expense - Note G and Note Q
$15.0M
$15.0M
$15.0M
$15.0M
Equity and other income - Note Q
$1.0M
$0
$1.0M
$0
Goodwill impairment - Note G
$0
—
—
$706.0M
Income (loss) on divestitures, net - Note B and Note Q
$1.0M
$0
$2.0M
$0
Operating income (loss)
$43.0M
$39.0M
($6.0M)
($708.0M)
Net interest and other (income) expense
($8.0M)
$18.0M
$8.0M
($5.0M)
Other net periodic benefit (income) loss - Note K
($5.0M)
$1.0M
$1.0M
$1.0M
Income (loss) from continuing operations before income taxes
$56.0M
$20.0M
($15.0M)
($704.0M)
Income tax expense (benefit) - Note J
$15.0M
$5.0M
($1.0M)
$15.0M
Income (loss) from continuing operations
$41.0M
$15.0M
($14.0M)
($719.0M)
Loss from discontinued operations, net of income taxes - Note C
($25.0M)
$1.0M
$2.0M
($23.0M)
Income (loss) from continuing operations
$0.89
$0.32
($0.3)
($15.7)
Loss from discontinued operations
($0.54)
$0.02
$0.04
($0.51)
Net income (loss)
$0.35
$0.34
-$0.26
-$16.21
Net income (loss)
$16.0M
$16.0M
($12.0M)
($742.0M)
Unrealized translation gain (loss)
$4.0M
($12.0M)
$2.0M
$91.0M
Unrealized (loss) gain on commodity hedges
($2.0M)
$0
$0
($1.0M)
Other comprehensive income (loss) - Note N
$2.0M
($12.0M)
$2.0M
$90.0M
Comprehensive income (loss)
$18.0M
$4.0M
($10.0M)
($652.0M)
Balance sheet
Ashland Inc balance sheet, fiscal years
Line item
Sep 30, 2025 · FY
Sep 30, 2024 · FY
Sep 30, 2023 · FY
Sep 30, 2022 · FY
Cash and cash equivalents
$215.0M
$300.0M
$417.0M
$646.0M
Accounts receivable, net - Notes A and H
$242.0M
$243.0M
$338.0M
$402.0M
Inventories - Note A
$568.0M
$545.0M
$626.0M
$629.0M
Other assets
$180.0M
$107.0M
$125.0M
$91.0M
Total current assets
$1.2B
$1.2B
$1.5B
$1.8B
Cost
$3.4B
$3.3B
$3.2B
$3.0B
Accumulated depreciation
$2.2B
$2.0B
$1.8B
$1.7B
Net property, plant and equipment
$1.2B
$1.3B
$1.4B
$1.3B
Goodwill - Note G
$705.0M
$1.4B
$1.4B
$1.3B
Intangibles - Note G
$563.0M
$751.0M
$886.0M
$963.0M
Operating lease assets, net - Note J
$103.0M
$114.0M
$122.0M
$107.0M
Restricted investments - Note E
$297.0M
$295.0M
$290.0M
$313.0M
Asbestos insurance receivable, net - Notes A and M
$127.0M
$132.0M
$127.0M
$138.0M
Deferred income taxes - Note K
$157.0M
$210.0M
$22.0M
$20.0M
Other assets - Note I
$253.0M
$264.0M
$251.0M
$254.0M
Total noncurrent assets
$3.4B
$4.5B
$4.4B
$4.4B
Total assets
$4.6B
$5.6B
$5.9B
$6.2B
Trade and other payables
$189.0M
$214.0M
$210.0M
$265.0M
Accrued expenses and other liabilities
$213.0M
$256.0M
$208.0M
$269.0M
Current operating lease obligations - Note J
$21.0M
$20.0M
$22.0M
$19.0M
Total current liabilities
$423.0M
$490.0M
$456.0M
$553.0M
Long-term debt - Note H
$1.4B
$1.3B
$1.3B
$1.3B
Asbestos litigation reserves - Note M
$389.0M
$414.0M
$427.0M
$472.0M
Deferred income taxes - Note K
$31.0M
$29.0M
$148.0M
$176.0M
Employee benefit obligations - Note L
$96.0M
$110.0M
$100.0M
$103.0M
Operating lease obligations - Note J
$85.0M
$99.0M
$106.0M
$94.0M
Other liabilities - Note I
$299.0M
$286.0M
$291.0M
$325.0M
Total noncurrent liabilities
$2.3B
$2.3B
$2.4B
$2.4B
Common stock, par value $.01 per share, 200 million shares authorized Issued 46 million and 47 million shares in 2025 and 2024
$1000000.00
$1000000.00
$1000000.00
$1000000.00
Paid-in capital
$6.0M
—
$4.0M
$135.0M
Retained earnings
$2.3B
$3.3B
$3.6B
$3.7B
Accumulated other comprehensive loss
($401.0M)
($448.0M)
($503.0M)
($569.0M)
Total equity
$1.9B
$2.9B
$3.1B
$3.2B
Total liabilities and equity
$4.6B
$5.6B
$5.9B
$6.2B
Ashland Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Jun 30, 2025
Cash and cash equivalents
$440.0M
$343.0M
$304.0M
$207.0M
Accounts receivable, net - Note H
$256.0M
$244.0M
$190.0M
$201.0M
Inventories - Note F
$490.0M
$506.0M
$565.0M
$567.0M
Other assets
$106.0M
$116.0M
$95.0M
$149.0M
Total current assets
$1.3B
$1.2B
$1.2B
$1.1B
Cost
$3.4B
$3.4B
$3.4B
$3.3B
Accumulated depreciation
$2.2B
$2.2B
$2.2B
$2.1B
Net property, plant and equipment
$1.1B
$1.2B
$1.2B
$1.2B
Goodwill - Note G
$700.0M
$700.0M
$707.0M
$705.0M
Intangibles, net - Note G
$513.0M
$529.0M
$548.0M
$578.0M
Operating lease assets, net - Note I
$100.0M
$101.0M
$100.0M
$101.0M
Restricted investments - Note E
$285.0M
$276.0M
$297.0M
$283.0M
Asbestos insurance receivable, net - Note L
$139.0M
$122.0M
$124.0M
$129.0M
Deferred income taxes
$157.0M
$157.0M
$157.0M
$241.0M
Other assets
$243.0M
$242.0M
$251.0M
$259.0M
Total noncurrent assets
$3.3B
$3.3B
$3.4B
$3.5B
Total assets
$4.6B
$4.5B
$4.5B
$4.6B
Trade and other payables
$198.0M
$181.0M
$167.0M
$185.0M
Accrued expenses and other liabilities
$208.0M
$195.0M
$180.0M
$216.0M
Current operating lease obligations - Note I
$18.0M
$19.0M
$19.0M
$19.0M
Total current liabilities
$424.0M
$395.0M
$366.0M
$420.0M
Long-term debt - Note H
$1.4B
$1.4B
$1.4B
$1.4B
Asbestos litigation reserves - Note L
$399.0M
$362.0M
$372.0M
$404.0M
Deferred income taxes
$31.0M
$31.0M
$31.0M
$28.0M
Employee benefit obligations - Note K
$88.0M
$96.0M
$99.0M
$111.0M
Operating lease obligations - Note I
$84.0M
$85.0M
$83.0M
$84.0M
Other liabilities
$308.0M
$290.0M
$303.0M
$303.0M
Total noncurrent liabilities
$2.3B
$2.2B
$2.3B
$2.3B
Equity - Note N
$1.9B
$1.9B
$1.9B
$1.9B
Total liabilities and equity
$4.6B
$4.5B
$4.5B
$4.6B
Cash flow statement
Ashland Inc cash flow statement, fiscal years
Line item
Sep 30, 2025 · FY
Sep 30, 2024 · FY
Sep 30, 2023 · FY
Sep 30, 2022 · FY
Net income (loss)
($845.0M)
$169.0M
$178.0M
$927.0M
Loss (income) from discontinued operations, net of income taxes
$23.0M
$30.0M
($10.0M)
($746.0M)
Depreciation and amortization
$237.0M
$274.0M
$243.0M
$241.0M
Original issue discount and debt issuance cost amortization
$7.0M
$6.0M
$6.0M
$7.0M
Deferred income taxes
$73.0M
($302.0M)
($32.0M)
($35.0M)
Gain from sales of property and equipment
($16.0M)
$0
($1.0M)
—
Stock based compensation expense - Note O
$14.0M
$15.0M
$22.0M
$18.0M
Benefit (loss) from excess tax deduction on stock based compensation
($3.0M)
—
—
—
Income from restricted investments
($33.0M)
($74.0M)
($43.0M)
$86.0M
Loss (income) on acquisitions and divestitures, net - Notes B
$177.0M
$107.0M
($7.0M)
($42.0M)
Goodwill impairment
$706.0M
—
—
—
Asset impairments
$0
$11.0M
$4.0M
—
Pension contributions
($12.0M)
($15.0M)
($8.0M)
($5.0M)
Loss (gain) on pension and other postretirement plan remeasurements
($3.0M)
$14.0M
($2.0M)
($22.0M)
Total cash flows provided by operating activities from continuing operations
$134.0M
$462.0M
$294.0M
$193.0M
Additions to property, plant and equipment
($98.0M)
($137.0M)
($170.0M)
($113.0M)
Proceeds from disposal of property, plant and equipment
$16.0M
$0
$11.0M
$51.0M
Proceeds from sale or restructuring of operations
$16.0M
$26.0M
$0
—
Proceeds from settlement of company-owned life insurance contracts
$12.0M
$1.0M
$6.0M
$3.0M
Company-owned life insurance payments
($5.0M)
($5.0M)
($5.0M)
($4.0M)
Funds restricted for specific transactions
($8.0M)
($5.0M)
($9.0M)
($74.0M)
Reimbursement from restricted investments
$62.0M
$79.0M
$58.0M
$35.0M
Proceeds from sale of securities
$56.0M
$53.0M
$47.0M
$87.0M
Purchase of securities
($54.0M)
($53.0M)
($47.0M)
($87.0M)
Other investing cash flows
$0
($10.0M)
—
—
Total cash flows used by investing activities from continuing operations
($3.0M)
($51.0M)
($109.0M)
($102.0M)
Proceeds from (repayment of) short-term debt
$0
($16.0M)
$16.0M
($365.0M)
Repurchase of common stock
($100.0M)
($380.0M)
($300.0M)
($200.0M)
Cash dividends paid
($76.0M)
($78.0M)
($76.0M)
($70.0M)
Stock based compensation employee withholding taxes paid in cash
($3.0M)
($5.0M)
($11.0M)
($9.0M)
Total cash flows used by financing activities from continuing operations
($179.0M)
($479.0M)
($371.0M)
($896.0M)
CASH USED BY CONTINUING OPERATIONS
($48.0M)
($68.0M)
($186.0M)
($805.0M)
Operating cash flows
($40.0M)
($51.0M)
($51.0M)
($406.0M)
Total cash used by discontinued operations
($40.0M)
($51.0M)
($51.0M)
$1.3B
Effect of currency exchange rate changes on cash and cash equivalents
$3.0M
$2.0M
$8.0M
($11.0M)
DECREASE IN CASH AND CASH EQUIVALENTS
($85.0M)
($117.0M)
($229.0M)
$436.0M
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR
$300.0M
$417.0M
$646.0M
$210.0M
CASH AND CASH EQUIVALENTS - END OF YEAR
$215.0M
$300.0M
$417.0M
$646.0M
Accounts receivable
($3.0M)
$96.0M
$58.0M
($23.0M)
Inventories
($28.0M)
$79.0M
($7.0M)
($141.0M)
Trade and other payables
($63.0M)
$56.0M
($112.0M)
$34.0M
Other assets and liabilities
($97.0M)
($4.0M)
$3.0M
($107.0M)
CHANGE IN OPERATING ASSETS AND LIABILITIES
($191.0M)
$227.0M
($58.0M)
($237.0M)
Interest paid
$54.0M
$52.0M
$53.0M
$56.0M
Income taxes paid (including discontinued operations)
$33.0M
$53.0M
$63.0M
$406.0M
Ashland Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · YTD
Dec 31, 2025 · Q1
Jun 30, 2025 · YTD
Net income (loss)
$20.0M
$4.0M
($12.0M)
($877.0M)
Loss from discontinued operations, net of income taxes
$22.0M
($3.0M)
($2.0M)
$22.0M
Depreciation and amortization
$141.0M
$93.0M
$48.0M
$187.0M
Original issue discount and debt issuance costs amortization
$6.0M
$4.0M
$2.0M
$5.0M
Deferred income taxes
$4.0M
$3.0M
$1.0M
$5.0M
Gain from sales of property, plant and equipment
($2.0M)
($2.0M)
($2.0M)
($11.0M)
Income from affiliates
($1.0M)
($1.0M)
($1.0M)
($1.0M)
Stock based compensation expense
$13.0M
$9.0M
$4.0M
$11.0M
Loss from excess tax deduction on stock based compensation
($1.0M)
($2.0M)
($2.0M)
—
Income from restricted investments
($28.0M)
($5.0M)
($7.0M)
($15.0M)
Loss on divestitures, net
$0
$0
$0
$176.0M
Goodwill impairment
$0
—
—
$706.0M
Pension contributions
($10.0M)
($5.0M)
($2.0M)
($9.0M)
(Gain) loss on pension and other postretirement plan remeasurements
($5.0M)
$0
$0
—
Change in operating assets and liabilities
$136.0M
$80.0M
$98.0M
($106.0M)
Total cash flows provided by operating activities from continuing operations
$295.0M
$175.0M
$125.0M
$94.0M
Additions to property, plant and equipment
($51.0M)
($31.0M)
($14.0M)
($64.0M)
Proceeds from disposal of property, plant and equipment
$4.0M
$4.0M
$4.0M
$11.0M
Proceeds from settlement of Company-owned life insurance contracts
$25.0M
$20.0M
$5.0M
$5.0M
Proceeds from sale of operations
$2.0M
$0
—
$16.0M
Company-owned life insurance payments
($1.0M)
($1.0M)
($1.0M)
($1.0M)
Funds restricted for specific transactions
($9.0M)
($7.0M)
($7.0M)
($8.0M)
Reimbursements from restricted investments
$52.0M
$33.0M
$15.0M
$41.0M
Proceeds from sale of securities
$40.0M
$27.0M
$12.0M
$36.0M
Purchases of securities
($40.0M)
($27.0M)
($12.0M)
($36.0M)
Total cash flows provided by investing activities from continuing operations
$22.0M
$18.0M
$2.0M
$0
Repurchase of common stock
$0
$0
—
($100.0M)
Debt issuance costs
($2.0M)
—
—
—
Cash dividends paid
($57.0M)
($38.0M)
($19.0M)
($57.0M)
Stock based compensation employee withholding taxes paid in cash
($1.0M)
($2.0M)
($2.0M)
($4.0M)
Total cash flows used by financing activities from continuing operations
($60.0M)
($40.0M)
($21.0M)
($161.0M)
CASH PROVIDED (USED) BY CONTINUING OPERATIONS
$257.0M
$153.0M
$106.0M
($67.0M)
Operating cash flows
($31.0M)
($25.0M)
($16.0M)
($27.0M)
Total cash used by discontinued operations
($31.0M)
($25.0M)
($16.0M)
($27.0M)
Effect of currency exchange rate changes on cash and cash equivalents