Ashland Global vs Materion
Add, change or remove companies; up to four.
The short version
- Ashland Global is the larger business, with $1.8B of revenue in fiscal 2025 against $1.8B for Materion.
- Materion grew revenue faster (6.0%, against −13.7%).
- Materion kept more of each dollar of sales as operating profit (6.2% operating margin, against −42.5%).
- Materion turned more of its sales into free cash flow (2.8% FCF margin, against 2.0%).
- Materion earned a higher return on the capital invested in it (7.3%, against −17.5%).
- Investors pay more for each dollar of Ashland Global’s earnings: a P/E of 69.5x against 51.5x for Materion.
| Latest fiscal year | ASH · FY25 | MTRN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.4B | $4.7B |
| Revenue | $1.8B | $1.8B |
| Free cash flow | $36.0M | $50.0M |
| Net income | −$845M | $74.8M |
| Growth | ||
| Revenue growth | −13.7% | 6.0% |
| 5-year growth | −2.0% | 8.7% |
| Share count change | −8.0% | −0.1% |
| Profitability | ||
| Gross margin | 30.1% | 17.3% |
| Operating margin | −42.5% | 6.2% |
| Net margin | −46.3% | 4.2% |
| FCF margin | 2.0% | 2.8% |
| Return on capital | −17.5% | 7.3% |
| Return on equity | −35.4% | 8.3% |
| Balance sheet | ||
| Net debt | $1.2B | $483M |
| Net debt / EBITDA | — | 2.7x |
| Dividends and buybacks | $176M | $19.3M |
| Valuation & quality | ||
| P/E | 69.5x | 51.5x |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
ASH $3.0B
MTRN $969M
FY17
ASH $2.3B
MTRN $1.1B
FY18
ASH $2.6B
MTRN $1.2B
FY19
ASH $2.1B
MTRN $1.2B
FY20
ASH $2.0B
MTRN $1.2B
FY21
ASH $2.1B
MTRN $1.5B
FY22
ASH $2.4B
MTRN $1.8B
FY23
ASH $2.2B
MTRN $1.7B
FY24
ASH $2.1B
MTRN $1.7B
FY25
ASH $1.8B
MTRN $1.8B
ASH
MTRN
Operating margin
FY16
ASH −1.7%
MTRN 3.0%
FY17
ASH 2.1%
MTRN 3.5%
FY18
ASH 3.9%
MTRN 5.1%
FY19
ASH 4.0%
MTRN 6.0%
FY20
ASH −22.9%
MTRN 0.7%
FY21
ASH 9.1%
MTRN 5.1%
FY22
ASH 13.9%
MTRN 6.8%
FY23
ASH 7.9%
MTRN 8.2%
FY24
ASH −1.2%
MTRN 2.8%
FY25
ASH −42.5%
MTRN 6.2%
ASH
MTRN
Free cash flow
FY16
ASH $154M
MTRN $41.0M
FY17
ASH $6.0M
MTRN $40.3M
FY18
ASH $84.0M
MTRN $48.7M
FY19
ASH −$7.0M
MTRN $75.0M
FY20
ASH $94.0M
MTRN $33.8M
FY21
ASH $361M
MTRN −$12.7M
FY22
ASH $80.0M
MTRN $38.4M
FY23
ASH $124M
MTRN $33.9M
FY24
ASH $325M
MTRN $19.2M
FY25
ASH $36.0M
MTRN $50.0M
ASH
MTRN
Return on capital
FY16
ASH −0.8%
MTRN 6.1%
FY17
ASH 0.8%
MTRN 4.2%
FY18
ASH 1.8%
MTRN 12.2%
FY19
ASH 1.3%
MTRN 10.8%
FY20
ASH −7.7%
MTRN 1.3%
FY21
ASH 4.3%
MTRN 7.7%
FY22
ASH 7.0%
MTRN 8.1%
FY23
ASH 4.4%
MTRN 9.3%
FY24
ASH −0.5%
MTRN 1.8%
FY25
ASH −17.5%
MTRN 7.3%
ASH
MTRN
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.