Hecla Mining
HL · Silver
$13.85
1.8%Ingevity
NGVT · Specialty Chemicals
$69.64
0.3%The short version
- Hecla Mining is the larger business, with $1.4B of revenue in fiscal 2025 against $1.2B for Ingevity.
- Hecla Mining grew revenue faster (53.0%, against −2.7%).
- Ingevity turned more of its sales into free cash flow (23.4% FCF margin, against 21.8% FCF margin).
- Ingevity earned a higher return on the capital invested in it (24.6%, against 13.5%).
- Investors pay more for each dollar of Ingevity’s earnings: a P/E of 46.4x against 28.3x for Hecla Mining.
| Latest fiscal year | HL · FY25 | NGVT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.4B | $2.5B |
| Revenue | $1.4B | $1.2B |
| Free cash flow | $310M | $274M |
| Net income | $322M | −$167M |
| Growth | ||
| Revenue growth | 53.0% | −2.7% |
| 5-year growth | 15.5% | −0.8% |
| Share count change | 5.3% | −0.3% |
| Profitability | ||
| Gross margin | 43.7% | 39.5% |
| Operating margin | 36.2% | 35.9% |
| Net margin | 22.6% | −14.3% |
| FCF margin | 21.8% | 23.4% |
| Return on capital | 13.5% | 24.6% |
| Return on equity | 13.9% | −148.6% |
| Balance sheet | ||
| Net debt | −$18.7M | $1.1B |
| Net debt / EBITDA | −0.0x | 2.2x |
| Dividends and buybacks | $11.3M | $56.3M |
| Valuation & quality | ||
| P/E | 28.3x | 46.4x |
| Piotroski F-score | 8 | 6 |
FY16
HL $646M
NGVT $908M
FY17
HL $578M
NGVT $972M
FY18
HL $567M
NGVT $1.1B
FY19
HL $673M
NGVT $1.3B
FY20
HL $692M
NGVT $1.2B
FY21
HL $808M
NGVT $1.4B
FY22
HL $719M
NGVT $1.7B
FY23
HL $720M
NGVT $1.2B
FY24
HL $930M
NGVT $1.2B
FY25
HL $1.4B
NGVT $1.2B
HL
NGVT
FY16
HL 16.9%
NGVT 18.0%
FY17
HL 10.4%
NGVT 25.0%
FY18
HL −6.9%
NGVT 28.3%
FY19
HL −6.9%
NGVT 30.7%
FY20
HL 9.7%
NGVT 32.7%
FY21
HL 10.3%
NGVT 30.3%
FY22
HL −1.7%
NGVT 27.1%
FY23
HL −6.2%
NGVT 34.8%
FY24
HL 11.4%
NGVT 35.5%
FY25
HL 36.2%
NGVT 35.9%
HL
NGVT
FY16
HL $60.5M
NGVT $71.2M
FY17
HL $17.8M
NGVT $122M
FY18
HL −$42.7M
NGVT $158M
FY19
HL −$0.6M
NGVT $161M
FY20
HL $89.8M
NGVT $270M
FY21
HL $111M
NGVT $190M
FY22
HL −$59.5M
NGVT $171M
FY23
HL −$148M
NGVT $95.3M
FY24
HL $3.8M
NGVT $51.0M
FY25
HL $310M
NGVT $274M
HL
NGVT
FY16
HL 4.4%
NGVT 14.4%
FY17
HL 2.7%
NGVT 32.6%
FY18
HL −1.6%
NGVT 31.7%
FY19
HL −1.7%
NGVT 23.4%
FY20
HL 2.5%
NGVT 18.0%
FY21
HL 4.0%
NGVT 18.3%
FY22
HL −0.4%
NGVT 18.9%
FY23
HL −1.4%
NGVT 16.8%
FY24
HL 2.3%
NGVT 19.1%
FY25
HL 13.5%
NGVT 24.6%
HL
NGVT
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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.