Ashland Global
ASH · Diversified Chemicals
$72.99
0.8%Olin
OLN · Diversified Chemicals
$15.66
0.8%The short version
- Olin is the larger business, with $6.8B of revenue in fiscal 2025 against $1.8B for Ashland Global, about 3.7 times as much.
- Olin grew revenue faster (3.7%, against −13.7%).
- Olin kept more of each dollar of sales as operating profit (0.1% operating margin, against −42.5% operating margin).
- Olin turned more of its sales into free cash flow (3.7% FCF margin, against 2.0% FCF margin).
- Olin earned a higher return on the capital invested in it (0.1%, against −17.5%).
| Latest fiscal year | ASH · FY25 | OLN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.4B | $1.8B |
| Revenue | $1.8B | $6.8B |
| Free cash flow | $36.0M | $248M |
| Net income | −$845M | −$101M |
| Growth | ||
| Revenue growth | −13.7% | 3.7% |
| 5-year growth | −2.0% | 3.3% |
| Share count change | −8.0% | −4.1% |
| Profitability | ||
| Gross margin | 30.1% | 7.4% |
| Operating margin | −42.5% | 0.1% |
| Net margin | −46.3% | −1.5% |
| FCF margin | 2.0% | 3.7% |
| Return on capital | −17.5% | 0.1% |
| Return on equity | −35.4% | −5.2% |
| Balance sheet | ||
| Net debt | $1.2B | $2.7B |
| Net debt / EBITDA | — | 5.1x |
| Dividends and buybacks | $176M | $142M |
| Valuation & quality | ||
| P/E | 69.5x | — |
| Piotroski F-score | 5 | 4 |
FY16
ASH $3.0B
OLN $5.6B
FY17
ASH $2.3B
OLN $6.3B
FY18
ASH $2.6B
OLN $6.9B
FY19
ASH $2.1B
OLN $6.1B
FY20
ASH $2.0B
OLN $5.8B
FY21
ASH $2.1B
OLN $8.9B
FY22
ASH $2.4B
OLN $9.4B
FY23
ASH $2.2B
OLN $6.8B
FY24
ASH $2.1B
OLN $6.5B
FY25
ASH $1.8B
OLN $6.8B
ASH
OLN
FY16
ASH −1.7%
OLN 1.9%
FY17
ASH 2.1%
OLN 4.7%
FY18
ASH 3.9%
OLN 9.8%
FY19
ASH 4.0%
OLN 2.9%
FY20
ASH −22.9%
OLN −13.0%
FY21
ASH 9.1%
OLN 20.8%
FY22
ASH 13.9%
OLN 19.0%
FY23
ASH 7.9%
OLN 10.4%
FY24
ASH −1.2%
OLN 4.5%
FY25
ASH −42.5%
OLN 0.1%
ASH
OLN
FY16
ASH $154M
OLN $325M
FY17
ASH $6.0M
OLN $355M
FY18
ASH $84.0M
OLN $523M
FY19
ASH −$7.0M
OLN $232M
FY20
ASH $94.0M
OLN $134M
FY21
ASH $361M
OLN $1.5B
FY22
ASH $80.0M
OLN $1.7B
FY23
ASH $124M
OLN $738M
FY24
ASH $325M
OLN $308M
FY25
ASH $36.0M
OLN $248M
ASH
OLN
FY16
ASH −0.8%
OLN 1.5%
FY17
ASH 0.8%
OLN 5.0%
FY18
ASH 1.8%
OLN 8.4%
FY19
ASH 1.3%
OLN 2.5%
FY20
ASH −7.7%
OLN −11.1%
FY21
ASH 4.3%
OLN 30.0%
FY22
ASH 7.0%
OLN 27.7%
FY23
ASH 4.4%
OLN 11.8%
FY24
ASH −0.5%
OLN 4.6%
FY25
ASH −17.5%
OLN 0.1%
ASH
OLN
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.