ECVT Ecovyst Inc.

Overview and Growth

Ecovyst Inc. generated $723.51M of revenue in fiscal 2025, with net loss of $71.13M and an operating cash inflow of $140.31M. The $723.51M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $598.29M in fiscal 2024, revenue recorded a 20.9% year-over-year increase. The company reported diluted EPS of -$0.61, adding a shareholder-level measure to the absolute income figures considered below. The revenue-to-assets relationship was 0.57x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $158.09M as gross profit before recognizing operating expenses and other items. Gross margin was 21.8%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $64.89M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 9.0%, showing how efficiently sales converted into operating profit. After all below-operating-line items, the company recorded a net loss of $71.13M for the fiscal year. Net margin was -9.8%, reflecting a loss equal to 9.8% of reported revenue. Before income taxes, the company reported $25.79M of earnings, providing a bridge between the operating result and final net income. Pretax income represented 3.6% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $19.50M, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 75.6%, without assuming a statutory-rate comparison. The net loss equaled 11.8% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 5.6%, placing the bottom-line deficit against the company’s resource base.

Liquidity and Capital Structure

At period end, the $1.26B asset base was financed through $657.54M of liabilities and $603.44M of equity. The near-term balance sheet paired $319.36M of current assets with $120.81M of current liabilities at the reporting date. At 2.64x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. The company held $197.19M in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 163.2% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $392.58M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.65x, showing how much debt the company carried for each unit of book equity. Debt represented 31.1% of total assets, placing borrowing in the context of the company’s full resource base. Liabilities represented 52.1% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 15.6%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 30.0% from $1.80B in fiscal 2024, leaving current total assets lower year over year.

Cash Flow and Earnings Quality

The company reported $140.31M of operating cash flow, a cash inflow that shows the cash generated by operations. Capital spending was $70.41M, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 50.2% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $69.89M, leaving cash available for debt reduction, shareholder returns, or further investment. Relative to revenue, free cash flow equaled 9.7%, showing how much sales converted into cash after investment. Measured against total assets, free cash flow represented 5.5%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.