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DCF valuation

What is Ecovyst Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Ecovyst Inc.'s reported free cash flow gives $9.76 per share. The share price was $10.14 on September 25, 2026, 4% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$69.9M
Average free cash flow, last 5 years
$88.1M
Cash
$87.8M
balance sheet of June 30, 2026
Debt
$493M
balance sheet of June 30, 2026
Diluted shares, fiscal 2025
115,957,562
Revenue growth per year, last 5 years
7.8%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear3.0%2.5%2.0%10.0%$4.64-54%
Base8.0%5.5%2.5%9.0%$9.76-4%
Bull13.0%8.0%3.0%8.0%$19.31+90%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$13.49$14.64$16.04$17.78$20.03
8.0%$10.70$11.45$12.32$13.38$14.66
9.0%$8.67$9.17$9.76$10.44$11.25
10.0%$7.12$7.48$7.89$8.36$8.90
11.0%$5.90$6.17$6.46$6.79$7.17

Where the presets come from

Base: years 1 to 5 grow at Ecovyst Inc.'s revenue growth rate over the last 5 fiscal years (7.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Ecovyst Inc. company page