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Ashland Inc. cash flow statement

In fiscal 2025, Ashland Inc.'s operations generated $134m of cash; it spent $98.0m on capital projects, leaving free cash flow of $36.0m. It returned $76.0m in dividends and $100m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2014Sept 20142015Sept 20152016Sept 20162017Sept 20172018Sept 20182019Sept 20192020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Cash from operations580−256385174241140227466193294462134335
Depreciation and amortisation393306302265277277235244241243274237160
Stock-based pay34303020272114151822151418
Capital spending2482202311681571471331051131701379885
Free cash flow332−476154684−7943618012432536250
Free cash flow after stock pay298−506124−1457−28803466210231022232
Dividends paid103989777606466707076787676
Share buybacks9543975000—200—450200300380100—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Ashland Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ashland Inc.