Ingevity Corp (NGVT) FY2025 10-K Annual Report
Ingevity Corp (NGVT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Ingevity Corp FY2025 10-K Analysis
Business Overview
- • Core business: Specialty chemicals and materials manufacturing, focusing on automotive carbon, pavement, and road marking technologies
- • Legal expense accrual of $95.4M for patent infringement judgment against BASF, final appeal lost in Feb 2026, impacting financials and cash flow
- • Emphasis on environmental regulation impacts, especially stricter gasoline vapor emission standards driving potential growth, tied to global air quality policies
- • Operational risk from chemicals handling and climate change, with 70-75% of pavement and road marking revenue seasonal April-Sept
- • Elevated inflation and economic uncertainties affecting pricing strategies and credit access, risks to capital availability and results of operations
Risk Factors
- • Regulatory risk: EU GDPR, CCPA, and China Cybersecurity Law impose complex data privacy compliance and significant fines for violations
- • Geopolitical risk: 43% sales outside US exposed to tariffs and retaliatory measures by China harming Performance Materials and Chemicals margins
- • Operational risk: Dependency on third-party utilities at UK and VA plants risks costly disruptions and potential liabilities for wastewater noncompliance
- • Competitive risk: Automotive activated carbon faces threats from sealed tank fuel systems used by OEMs to meet Tier 3/LEV III emissions regulations
- • Financial risk: Ten largest customers accounted for 41% of sales in 2025, with no long-term purchase commitments creating revenue concentration vulnerability
Ingevity Corp FY2025 Key Financial MetricsXBRL
Revenue
$1.2B
▼ -17.0% YoY
Net Income
-$167M
▲ +61.2% YoY
Gross Margin
39.5%
▲ +719bp YoY
Operating Margin
35.9%
▲ +962bp YoY
Net Margin
-14.3%
▲ +1628bp YoY
ROE
-562.6%
▼ -34219bp YoY
Total Assets
$1.7B
▼ -18.4% YoY
EPS (Diluted)
$-4.61
▲ +61.1% YoY
Operating Cash Flow
$331M
▲ +157.5% YoY
Source: XBRL data from Ingevity Corp FY2025 10-K filing on SEC EDGAR. All figures in USD.
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