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ECVT (Ecovyst) Piotroski F-Score : 5 (As of Mar. 17, 2025)


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What is Ecovyst Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Ecovyst has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Ecovyst's Piotroski F-Score or its related term are showing as below:

ECVT' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 5   Max: 7
Current: 5

During the past 10 years, the highest Piotroski F-Score of Ecovyst was 7. The lowest was 4. And the median was 5.


Ecovyst Piotroski F-Score Historical Data

The historical data trend for Ecovyst's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Ecovyst Piotroski F-Score Chart

Ecovyst Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.00 7.00 5.00 5.00

Ecovyst Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 7.00 5.00 6.00 5.00

Competitive Comparison of Ecovyst's Piotroski F-Score

For the Specialty Chemicals subindustry, Ecovyst's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ecovyst's Piotroski F-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Ecovyst's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ecovyst's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec24) TTM:Last Year (Dec23) TTM:
Net Income was 1.221 + 8.295 + 14.251 + -30.419 = $-6.7 Mil.
Cash Flow from Operations was 36.503 + 9.957 + 59.935 + 43.495 = $149.9 Mil.
Revenue was 160.537 + 182.82 + 179.175 + 181.961 = $704.5 Mil.
Gross Profit was 39.223 + 53.663 + 54.703 + 53.933 = $201.5 Mil.
Average Total Assets from the begining of this year (Dec23)
to the end of this year (Dec24) was
(1837.751 + 1830.813 + 1819.939 + 1840.031 + 1802.321) / 5 = $1826.171 Mil.
Total Assets at the begining of this year (Dec23) was $1,837.8 Mil.
Long-Term Debt & Capital Lease Obligation was $878.1 Mil.
Total Current Assets was $303.7 Mil.
Total Current Liabilities was $115.1 Mil.
Net Income was -1.471 + 26.122 + 16.574 + 29.929 = $71.2 Mil.

Revenue was 160.874 + 184.11 + 173.326 + 172.808 = $691.1 Mil.
Gross Profit was 36.493 + 60.97 + 53.184 + 47.317 = $198.0 Mil.
Average Total Assets from the begining of last year (Dec22)
to the end of last year (Dec23) was
(1884.553 + 1830.049 + 1814.038 + 1812.825 + 1837.751) / 5 = $1835.8432 Mil.
Total Assets at the begining of last year (Dec22) was $1,884.6 Mil.
Long-Term Debt & Capital Lease Obligation was $879.9 Mil.
Total Current Assets was $246.0 Mil.
Total Current Liabilities was $119.1 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Ecovyst's current Net Income (TTM) was -6.7. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Ecovyst's current Cash Flow from Operations (TTM) was 149.9. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec23)
=-6.652/1837.751
=-0.00361964

ROA (Last Year)=Net Income/Total Assets (Dec22)
=71.154/1884.553
=0.03775643

Ecovyst's return on assets of this year was -0.00361964. Ecovyst's return on assets of last year was 0.03775643. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Ecovyst's current Net Income (TTM) was -6.7. Ecovyst's current Cash Flow from Operations (TTM) was 149.9. ==> 149.9 > -6.7 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec23 to Dec24
=878.103/1826.171
=0.4808438

Gearing (Last Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=879.931/1835.8432
=0.47930618

Ecovyst's gearing of this year was 0.4808438. Ecovyst's gearing of last year was 0.47930618. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec24)=Total Current Assets/Total Current Liabilities
=303.714/115.126
=2.63810086

Current Ratio (Last Year: Dec23)=Total Current Assets/Total Current Liabilities
=245.987/119.081
=2.06571157

Ecovyst's current ratio of this year was 2.63810086. Ecovyst's current ratio of last year was 2.06571157. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Ecovyst's number of shares in issue this year was 116.517. Ecovyst's number of shares in issue last year was 116.699. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=201.522/704.493
=0.28605252

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=197.964/691.118
=0.28644023

Ecovyst's gross margin of this year was 0.28605252. Ecovyst's gross margin of last year was 0.28644023. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec23)
=704.493/1837.751
=0.38334519

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec22)
=691.118/1884.553
=0.36672781

Ecovyst's asset turnover of this year was 0.38334519. Ecovyst's asset turnover of last year was 0.36672781. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+0+1+1+0+1
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Ecovyst has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Ecovyst  (NYSE:ECVT) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Ecovyst Piotroski F-Score Related Terms

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Ecovyst Business Description

Traded in Other Exchanges
Address
300 Lindenwood Drive, Valleybrooke Corporate Center, Malvern, PA, USA, 19355-1740
Ecovyst Inc is a integrated and global provider of materials, specialty catalysts and services. Its products contribute to lower emissions and cleaner air, higher fuel efficiency and cleaner fuels, and key enablers to advance transition to clean energy. The company has two reporting segments: (1) Ecoservices and (2) Advanced Materials & Catalysts. Ecoservices provides sulfuric acid recycling to the North American refining industry for the production of alkylate and provides on-purpose virgin sulfuric acid for water treatment, mining, and industrial applications. Maximum revenue is generated from Ecoservices segment.
Executives
Paul Whittleston officer: See Remarks C/O ECOVYST INC., 300 LINDENWOOD DRIVE, MALVERN PA 19355
Michael Feehan officer: See Remarks C/O PQ GROUP HOLDINGS INC., 300 LINDENWOOD DRIVE, MALVERN PA 19355
Joseph S. Koscinski officer: See Remarks C/O PQ GROUP HOLDINGS INC., 300 LINDENWOOD DRIVE, MALVERN PA 19355
Kurt Bitting officer: See Remarks C/O PQ GROUP HOLDINGS INC., 300 LINDENWOOD DRIVE, MALVERN PA 19355
Susan F Ward director 11465 JOHNS CREEK PARKWAY, SUITE 400, JOHNS CREEK GA 30097
Ineos Ltd 10 percent owner 38 HANS CRESCENT, KNIGHTSBRIDGE, LONDON X0 SW1X 0LZ
Ccmp Capital, Lp 10 percent owner 245 PARK AVENUE, 16TH FLOOR, NEW YORK NY 10167
Kyle D Vann director 11 HEPPLEWHITE WAY, THE WOODLANDS TX 77382
Jonny Ginns director C/O PQ GROUP HOLDINGS INC., 300 LINDENWOOD DRIVE, MALVERN PA 19355
Robert Coxon director C/O PQ GROUP HOLDINGS INC., 300 LINDENWOOD DRIVE, MALVERN PA 19355
Vann George L. Jr. officer: See Remarks C/O ECOVYST INC., 300 LINDENWOOD DRIVE, MALVERN PA 19355
Thomas Schneberger officer: See Remarks C/O FMC CORP, 2929 WALNUT STREET, PHILADELPHIA PA 19104
Sichko William J. Jr. officer: See Remarks C/O PQ GROUP HOLDINGS INC., 300 LINDENWOOD DRIVE, MALVERN PA 19355
Anna C Catalano director 1313 NORTH MARKET STREET, WILMINGTON DE 19894
David A. Bradley director 15710 JOHN F. KENNDEY BLVD, SUITE 300, HOUSTON TX 77032