Ashland Global vs Chemours

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KIRA’s take AI analyst

I put Ashland Global and Chemours side by side, using each one’s latest annual report. Here is what stands out:

Chemours is the larger business, with $5.8B of revenue in fiscal 2025 against $1.8B for Ashland Global, about 3.2 times as much.
Chemours grew revenue faster (0.5%, against −13.7%).
Ashland Global turned more of its sales into free cash flow (2.0% FCF margin, against 0.9%).
Chemours earned a higher return on the capital invested in it (−0.2%, against −17.5%).

Who comes out ahead

Of the 9 measures where higher (or lower) is clearly better, how many each company leads.

Ashland Global

ASH

5/9

Gross marginFCF marginReturn on equityPiotroski F-scoreShare count change

Chemours

4/9

Revenue growth5-year growthNet marginReturn on capital

Side by side

Best in the row

Latest fiscal year	ASH FY25	CC FY25
Size
Market cap	$3.3B	$1.9B
Revenue	$1.8B	$5.8B
Free cash flow	$36.0M	$51.0M
Net income	−$845M	−$386M
Growth
Revenue growth	−13.7%	0.5%
5-year growth	−2.0%	3.2%
Share count change	−8.0%	0.0%
Profitability
Gross margin	30.1%	15.5%
Operating margin	−42.5%	—
Net margin	−46.3%	−6.7%
FCF margin	2.0%	0.9%
Return on capital	−17.5%	−0.2%
Return on equity	−35.4%	−94.0%
Balance sheet
Net debt	$1.2B	$3.5B
Net debt / EBITDA	—	10.6x
Dividends and buybacks	$176M	$78.0M
Valuation & quality
P/E	68.9x	—
Piotroski F-score	5	4

Ten years

Revenue

FY16

ASH $3.0B

CC $5.4B

FY17

ASH $2.3B

CC $6.2B

FY18

ASH $2.6B

CC $6.6B

FY19

ASH $2.1B

CC $5.5B

FY20

ASH $2.0B

CC $5.0B

FY21

ASH $2.1B

CC $6.3B

FY22

ASH $2.4B

CC $6.8B

FY23

ASH $2.2B

CC $6.1B

FY24

ASH $2.1B

CC $5.8B

FY25

ASH $1.8B

CC $5.8B

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

ASH CC

Operating margin

FY16

ASH −1.7%

CC —

FY17

ASH 2.1%

CC —

FY18

ASH 3.9%

CC —

FY19

ASH 4.0%

CC —

FY20

ASH −22.9%

CC —

FY21

ASH 9.1%

CC —

FY22

ASH 13.9%

CC —

FY23

ASH 7.9%

CC —

FY24

ASH −1.2%

CC —

FY25

ASH −42.5%

CC —

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

ASH CC

Free cash flow

FY16

ASH $154M

CC $256M

FY17

ASH $6.0M

CC $229M

FY18

ASH $84.0M

CC $642M

FY19

ASH −$7.0M

CC $169M

FY20

ASH $94.0M

CC $540M

FY21

ASH $361M

CC $537M

FY22

ASH $80.0M

CC $448M

FY23

ASH $124M

CC $186M

FY24

ASH $325M

CC −$993M

FY25

ASH $36.0M

CC $51.0M

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

ASH CC

Return on capital

FY16

ASH −0.8%

CC 5.0%

FY17

ASH 0.8%

CC 29.5%

FY18

ASH 1.8%

CC 31.9%

FY19

ASH 1.3%

CC 1.7%

FY20

ASH −7.7%

CC 10.1%

FY21

ASH 4.3%

CC 21.6%

FY22

ASH 7.0%

CC 19.9%

FY23

ASH 4.4%

CC −2.4%

FY24

ASH −0.5%

CC 6.3%

FY25

ASH −17.5%

CC −0.2%

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

ASH CC

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.