INNOSPEC INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data INNOSPEC INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	883	1,307	1,477	1,513	1,193	1,483	1,964	1,949	1,845	1,778
Cost of revenue	551	904	1,042	1,047	850	1,049	1,377	1,358	1,303	1,286
Gross profit	332	403	435	466	343	435	587	591	543	492
Research and development	25.4	31.4	33.4	35.4	30.9	37.4	38.7	49	56.5	51
Selling, general and administrative	217	244	261	281	237	267	361	381	305	285
Operating expenses	234	278	302	316	309	303	399	430	365	363
Operating income	98.2	125	134	150	33.7	132	187	162	178	130
Interest expense	2.6	7.2	6.5	4.8	0.8	0	0	0	0	0
Other non-operating income	8.1	11.3	5	5.3	7.8	3.8	-1.6	10.5	9.6	-0.6
Pre-tax income	103	128	132	150	39.7	134	185	174	41.2	138
Income tax	21.8	66.3	46.6	38.2	11	41.3	51.6	35.3	5.6	21.5
Net income to minority interests		-0.1	0.1	-0.1	0.1	0.1		0.1	2.4
Net income	81.3	61.8	85	112	28.7	93.1	133	139	35.6	117
EBITDA	136	175	183	198	79.7	175	227	201	221	173
EPS, basic	3.39	2.56	3.48	4.58	1.17	3.78	5.37	5.60	1.43	4.69
EPS, diluted	3.33	2.52	3.45	4.54	1.16	3.75	5.32	5.56	1.42	4.67
Shares, basic (weighted)	24	24.1	24.4	24.5	24.6	24.6	24.8	24.9	24.9	24.9
Shares, diluted (weighted)	24.4	24.5	24.6	24.7	24.8	24.9	25	25	25.1	25
Dividend per share	0.67	0.77	0.89	1.02	1.04	1.16	1.28	1.41	1.55	1.71

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	102	90.2	123	75.7	105	142	147	204	289	293
Short-term investments	0
Receivables	154	245	280	292	221	285	335	360	342	342
Inventory	174	210	248	245	220	278	373	300	301	329
Other current assets	0	1.1	0	0.8	0.4	0.4	0.4	0.6	0.6	7.3
Total current assets	441	562	664	630	566	728	873	886	957	1,005
Property, plant and equipment	157	196	196	199	211	214	221	268	270	286
Lease right-of-use assets			0	32.4	40.1	35.4	45.3	45.1	44.8	52.7
Goodwill	375	362	365	363	371	364	359	399	383	399
Intangible assets	144	163	136	114	75.3	57.5	45	57.3	65.4	67.7
Other non-current assets	0.8	5.1	7.2	5.9	8.2	5	7.1	6.2	3.9	8.7
Total assets	1,181	1,410	1,473	1,469	1,397	1,571	1,604	1,707	1,735	1,832
Accounts payable	59.6	118	127	122	98.7	149	165	164	164	175
Accrued liabilities	95.4	104	132	154	130	167	203	186	169	152
Short-term debt	10.3	15.8	21.4	0	0
Total current liabilities	183	262	297	304	252	337	406	372	371	360
Long-term debt	259	203	186	58.6	0
Lease liabilities			0	21.9	28.9	23.1	31.4	31.6	31	36.8
Other non-current liabilities	1	2	2.1	1.7	3.4	1.4	1.4	2.3	4.2	8.8
Total liabilities	528	616	648	550	453	538	563	558	519	500
Total debt	269	218	208	58.6	0
Paid-in capital	315	320	325	330	336	347	354	361	370	377
Retained earnings	562	605	668	756	759	823	924	1,028	1,025	1,099
Treasury stock	-97.5	-93.3	-92.8	-93.3	-93.3	-90.6	-95.4	-94.3	-93	-115
Other comprehensive income	-126	-38.5	-75.7	-74.4	-57.3	-46.9	-145	-148	-91	-34.7
Shareholders' equity	654	794	825	-74.4	944	1,032	1,038	1,147	1,211	1,326
Minority interests	0.3	0.4	0.5	0.4	0.5	0.6	2.4	2.5	4.9	6.8
Total equity	654	794	826	919	945	1,033	1,040	1,150	1,216	1,333
Total liabilities and equity	1,181	1,410	1,473	1,469	1,397	1,571	1,604	1,707	1,735	1,832

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	81.3	61.8	85	112	28.7	93.1	133	139	35.6	117
Depreciation and amortization	38.1	50.4	49.6	47.6	46	42.7	40.1	39.3	43.5	43.6
Stock-based compensation	3.3	4.1	4.9	6.6	5.8	4.4	6.7	8	8.5	8.1
Deferred income tax	1	-6.8	5.5	-0.8	-2.4	6.9	-5	4.1	-40.4	-9
Change in receivables	-6	-83.2	-40.1	-18.2	74.4	-70.3	-55.5	-12.6	4.3	21.6
Change in inventory	7.7	-30.8	-42.2	2.4	25.5	-62	-98.5	83	-11.8	-6.6
Change in payables	-3.4	48.6	38.4	23.2	-45.9	90.2	54.2	-26.9	-4.5	-32.8
Cash from operations	106	82.7	105	162	146	93.2	81.7	207	185	138
Capital expenditures	-16.5	-23.3	-28.9	-29.9	-29.7	-39.1	-39.6	-62.1	-41.4	-50.3
Acquisitions	-197	2.6	-5.4	0	0	0	0	-34.7	-0.2	-0.7
Purchases of investments	0	0
Cash from investing	-209	-29.6	-35.5	-31	-29.7	-36.2	-42.1	-112	-62	-75.1
Debt issued	110
Share buybacks	-8.4	-1.1	-1.4	-2.4	-2.1	-0.8	-5.9	-1.1	-0.7	-23.9
Dividends paid	-15.9	-18.6	-21.7	-25	-25.6	-28.8	-31.7	-35.1	-38.8	-42.4
Cash from financing	69.5	-66.4	-36.2	-178	-86.8	-20	-33.7	-39	-35.3	-63.9
Exchange rate effect	-0.9	1.6
Net change in cash	-35	-11.7	32.9	-47.4	29.6	36.5	5.3	56.6	85.5	3.3
Free cash flow	89	59.4	76	132	116	54.1	42.1	145	143	88
Income taxes paid	23.1	24.2	35.4	37.6	23.4	36.8	50	54.3	51.7	51

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $98.72 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	27.5%	Gross profit / revenue.
Operating margin	7.0%	Operating income / revenue.
EBITDA margin	9.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	7.8%	Pre-tax income / revenue.
Net margin	6.6%	Net income / revenue.
FCF margin	3.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.7%	Cash from operations / revenue.
Effective tax rate	14.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.6%	Net income / average total assets.
Return on invested capital (ROIC)	10.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	2.8%	Research and development expense / revenue.
SG&A / revenue	16.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.0%	Capital expenditures / revenue.
D&A / revenue	2.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-3.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-9.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-5.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	7.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-27.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-11.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	30.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-21.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-8.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	16.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	227.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-4.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	32.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	228.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-4.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	32.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-25.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	19.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-1.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-38.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	27.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-5.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	10.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	10.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	7.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.78x	Current assets / current liabilities.
Quick ratio	1.79x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.68x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	26.8%	Total liabilities / total assets.
Working capital	$656.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	25.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$879.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.00x	Revenue / average total assets.
Fixed asset turnover	6.28x	Revenue / average property, plant and equipment.
Inventory turnover	3.96x	Cost of revenue / average inventory.
Days inventory	92 days	365 x average inventory / cost of revenue.
Receivables turnover	4.51x	Revenue / average receivables.
Days sales outstanding	81 days	365 x average receivables / revenue.
Days payables	46 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	127 days	Days inventory + days sales outstanding - days payables.
FCF conversion	56.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	44.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.92	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$74.56	Revenue / diluted weighted shares.
FCF per share	$2.78	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.03	Cash from operations / diluted weighted shares.
Book value per share	$54.37	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$35.61	Tangible book value / shares outstanding.
Cash per share	$10.13	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	35.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.43B	Share price x shares outstanding.
Enterprise value	$2.18B	Market cap + total debt - cash - short-term investments.
P/E	20.0x	Market cap / net income. Only when net income is positive.
P/S	1.32x	Market cap / revenue.
P/B	1.81x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.76x	Market cap / tangible book value, when positive.
P/FCF	35.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	19.6x	Market cap / cash from operations, when positive.
EV/Sales	1.18x	Enterprise value / revenue.
EV/EBIT	16.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	31.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.8%	Free cash flow / market cap.
Earnings yield	5.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.0%	(Dividends paid + share buybacks) / market cap.

What was INNOSPEC INC.'s revenue in fiscal 2025?

INNOSPEC INC. reported revenue of $1.78B for fiscal 2025, 3.7% lower than the year before.

Was INNOSPEC INC. profitable in fiscal 2025?

Yes. Net income was $116.6M, a net margin of 6.6%.

How much free cash flow did INNOSPEC INC. generate in fiscal 2025?

Cash from operations of $138.3M minus capital expenditures of $50.3M left free cash flow of $88.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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