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1. Company Snapshot

1.a. Company Description

Ecovyst Inc.provides specialty catalysts and services in the United States, the Netherlands, the United Kingdom, and internationally.The company operates through two segments, Ecoservices and Catalyst Technologies.


The Ecoservices segment offers sulfuric acid recycling services for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.The Catalyst Technologies segment provides customized catalyst products and process solutions to producers and licensors of polyethylene and methyl methacrylate.Its catalyst supports the production of plastics used in packaging films, bottles, containers, and other molded applications.


This segment also provides zeolite-based emission control catalysts, which enable the removal of nitrogen oxides from diesel engine emissions, as well as sulfur dioxide from fuels during the refining process.The company was formerly known as PQ Group Holdings Inc.and changed its name to Ecovyst Inc.


in August 2021.Ecovyst Inc.was founded in 1831 and is headquartered in Malvern, Pennsylvania.

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1.b. Last Insights on ECVT

Negative drivers behind Ecovyst Inc.'s recent performance include escalating end-market choppiness, recently announced tariffs, and high medical care ratios. The company's Q4 earnings release was met with a significant stock decline, despite beating earnings estimates. Additionally, the company's near-term outlook remains cloudy due to macroeconomic uncertainty. Furthermore, the recent agreement to acquire sulfuric acid assets from Cornerstone Chemical Company may pose integration challenges and dilute earnings in the short term.

1.c. Company Highlights

2. Ecovyst's 2025 Earnings: A Strong Finish with Growth Ahead

Ecovyst Inc. reported a solid fourth quarter in 2025, with adjusted EBITDA reaching $51 million, an 8% increase from the prior year. The company's EPS came in at $0.29, beating estimates of $0.21. Revenue growth was driven by the successful execution of its capital allocation strategy, including the acquisition of Wagaman sulfuric acid assets for $40 million and the repurchase of $50 million in common stock. The divestiture of the Advanced Materials and Catalysts segment generated $556 million in sales, with $465 million of the net proceeds used to pay down the term loan.

Publication Date: Mar -05

📋 Highlights
  • EBITDA Growth:: Adjusted EBITDA reached $51M, up 8% YoY, reflecting strong operational performance.
  • Capital Allocation:: $80M allocated in 2025 through $40M acquisition of Wagaman and $50M share repurchases.
  • 2026 Guidance:: Sales projected at $860M–$940M, with EBITDA expected to rise to $175M–$195M.
  • Strategic Investments:: $20M Gulf Coast expansion to boost storage and logistics capacity.
  • Wagaman Impact:: Added 10% volume to the network, enhancing flexibility and demand responsiveness.

2026 Outlook

Ecovyst Inc. expects sales to range from $860 million to $940 million in 2026, driven by favorable volume and price impacts, as well as higher sales volume for virgin sulfuric acid due to increased mining demand. Adjusted EBITDA is anticipated to fall within the range of $175 million to $195 million. The company is investing approximately $20 million in growth capital in the Gulf Coast region to increase storage capacity and improve rail logistics.

Operational Highlights

The acquisition of Wagaman sulfuric acid assets has added 10% to the company's overall volume and has had a positive network effect, enabling Ecovyst to capitalize on more opportunities, as stated by CEO Kurt J. Bitting: "the Wagaman assets have added 10% of volume to our overall network and have a positive network effect." The company's regen contract pricing is expected to provide a 15% to 20% annual benefit due to the rolling off of contractual agreements and increasing basic costs.

Valuation and Growth Prospects

With a P/E Ratio of -18.33 and an EV/EBITDA of 7.62, the market is pricing in some level of risk. Analysts estimate revenue growth at 5.3% for next year. Ecovyst's strong balance sheet, with significant liquidity and approximately $183 million remaining under its share repurchase authorization, positions the company for future growth. The company's focus on organic growth, accretive acquisitions, and share repurchases is expected to drive value for shareholders.

Investment Opportunities

Ecovyst is exploring opportunities to expand its capacity, with a focus on debottlenecking existing facilities to meet growing demand from the mining sector. The company is also evaluating potential M&A opportunities, with a broad service offering that includes both virgin and regeneration sulfuric acid, as well as other exposures in sulfur derivatives and services.

3. NewsRoom

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Ecovyst (NYSE:ECVT) versus Green Plains (NASDAQ:GPRE) Head-To-Head Comparison

Mar -19

Source: defenseworld.net

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Ecovyst Inc. (ECVT) Q4 2025 Earnings Call Transcript

Feb -27

Source: seekingalpha.com

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Ecovyst Reports Fourth Quarter and Full Year 2025 Results

Feb -26

Source: prnewswire.com

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Résultats Financiers de Technip Energies pour l’Exercice 2025

Feb -26

Source: globenewswire.com

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Ecovyst Stock Up 41% as One Fund's $20 Million Buy Creates 8% Portfolio Position

Feb -13

Source: fool.com

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Ecovyst to Host Fourth Quarter 2025 Earnings Conference Call and Webcast on Thursday, February 26, 2026 at 11:00 a.m. ET

Feb -13

Source: prnewswire.com

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Contrasting Ecolab (NYSE:ECL) & Ecovyst (NYSE:ECVT)

Jan -18

Source: defenseworld.net

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Allspring Global Investments Holdings LLC Has $38.62 Million Stock Position in Ecovyst Inc. $ECVT

Jan -03

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.04%)

6. Segments

Ecoservices

Expected Growth: 7.5%

Growing demand for sustainable solutions, increasing environmental regulations, and rising concerns over climate change drive growth in Ecovyst's ecoservices segment, enabling a cleaner environment and reduced emissions.

Advanced Materials & Catalysts

Expected Growth: 4.5%

Growing demand for clean energy, increasing adoption of emission control technologies, and rising need for efficient petroleum refining processes drive the growth of Advanced Materials & Catalysts segment.

7. Detailed Products

EcoShield

A proprietary, sulfur-based product used to remove impurities and contaminants from hydrocarbon streams, improving the quality and stability of fuels and other petroleum products.

EcoSulfur

A high-quality, sulfur-based product used in the production of fertilizers, pesticides, and other agricultural products.

EcoPur

A line of proprietary, sulfur-based products used to remove impurities and contaminants from industrial processes, improving efficiency and reducing waste.

EcoServices

A range of technical services and solutions provided to the refining, petrochemical, and industrial industries to improve operational efficiency and reduce environmental impact.

8. Ecovyst Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Ecovyst Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the increasing demand for sustainable products.

Bargaining Power Of Customers

Ecovyst Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's products are specialized, making it difficult for customers to switch to alternative suppliers.

Bargaining Power Of Suppliers

Ecovyst Inc. relies on a few key suppliers for raw materials, which gives them some bargaining power. However, the company's long-term contracts and diversified supply chain mitigate this risk.

Threat Of New Entrants

The chemical industry has high barriers to entry, including significant capital requirements and regulatory hurdles. This makes it difficult for new entrants to compete with Ecovyst Inc.

Intensity Of Rivalry

The chemical industry is highly competitive, with several established players competing for market share. Ecovyst Inc. must continually innovate and improve its products to maintain its market position.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 55.48%
Debt Cost 8.88%
Equity Weight 44.52%
Equity Cost 8.96%
WACC 8.92%
Leverage 124.63%

11. Quality Control: Ecovyst Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Hudson Technologies

A-Score: 5.6/10

Value: 6.9

Growth: 7.6

Quality: 6.9

Yield: 0.0

Momentum: 8.0

Volatility: 4.0

1-Year Total Return ->

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NTIC

A-Score: 5.3/10

Value: 9.8

Growth: 10.0

Quality: 3.4

Yield: 3.0

Momentum: 0.5

Volatility: 5.0

1-Year Total Return ->

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Ecovys

A-Score: 5.2/10

Value: 7.6

Growth: 3.3

Quality: 4.1

Yield: 5.0

Momentum: 6.0

Volatility: 5.3

1-Year Total Return ->

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Core Molding Technologies

A-Score: 4.9/10

Value: 5.5

Growth: 5.9

Quality: 4.8

Yield: 0.0

Momentum: 7.5

Volatility: 5.7

1-Year Total Return ->

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Kronos Worldwide

A-Score: 4.7/10

Value: 8.8

Growth: 2.8

Quality: 3.3

Yield: 9.0

Momentum: 0.5

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Koppers

A-Score: 4.0/10

Value: 6.6

Growth: 4.9

Quality: 3.0

Yield: 1.0

Momentum: 2.5

Volatility: 6.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

12.93$

Current Price

12.93$

Potential

-0.00%

Expected Cash-Flows