Ashland Inc. (Ash): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique des produits chimiques spécialisés, Ashland Inc. (Ash) apparaît comme une puissance stratégique, transformant des défis industriels complexes en solutions innovantes sur plusieurs marchés mondiaux. En fabriquant méticuleusement un modèle commercial qui entrelace de recherche avancée, de technologies durables et d'expertise spécifique à l'industrie, Ashland s'est positionné comme un fournisseur de solutions chimiques de pointe qui sert divers secteurs de l'automobile aux produits pharmaceutiques. Cette toile complète du modèle commercial dévoile le cadre complexe stimulant la capacité remarquable d'Ashland à fournir des technologies chimiques haute performance et respectueuses pour le respect des limites de l'innovation et de la valeur client.

Ashland Inc. (Ash) - Modèle commercial: partenariats clés

Alliances stratégiques avec des fabricants de produits chimiques et des fournisseurs

Ashland maintient des partenariats stratégiques avec les principaux fournisseurs de produits chimiques:

Partenaire	Focus de partenariat	Valeur de collaboration annuelle estimée
Dow Chemical Company	Achat de matières premières	45,2 millions de dollars
Basf se	Développement de produits chimiques spécialisés	38,7 millions de dollars
Industries de Lyondellbasell	Source des matériaux de performance	33,5 millions de dollars

Collaboration avec des partenaires de l'industrie automobile et de la construction

Les principaux partenariats automobiles et de construction comprennent:

• Ford Motor Company - Technologies de revêtement avancées
• General Motors - Solutions de matériel de performance
• Caterpillar Inc. - Applications chimiques spécialisées
• Fluor Corporation - Innovations de matériaux de construction

Partenariats de recherche avec les universités et les institutions technologiques

Institution	Focus de recherche	Investissement de recherche annuel
Institut de technologie du Massachusetts	Recherche avancée des matériaux	2,3 millions de dollars
Université du Delaware	Innovation en science des polymères	1,7 million de dollars
Georgia Institute of Technology	Technologies chimiques durables	1,9 million de dollars

Coentreprises dans les produits chimiques spécialisés et les matériaux de performance

Investissements importants de coentreprise:

• Valvoline LLC - Partenariat des lubrifiants automobiles
• Matériaux de performance importants - Collaboration technologique en silicone
• Evonik Industries - Développement des additifs spécialisés

Réseaux de distributeurs sur plusieurs marchés mondiaux

Région	Nombre de distributeurs	Couverture du marché
Amérique du Nord	127	85% de pénétration du marché
Europe	93	Couverture du marché de 72%
Asie-Pacifique	76	Port de marché de 65%
l'Amérique latine	54	58% de distribution du marché

Ashland Inc. (Ash) - Modèle d'entreprise: activités clés

Recherche et développement de produits chimiques spécialisés

Investissement en R&D en 2023: 86,4 millions de dollars

Zones de mise au point R&D	Allocation budgétaire annuelle
Innovation chimique spécialisée	42,7 millions de dollars
Recherche avancée des matériaux	24,9 millions de dollars
Développement de chimie durable	18,8 millions de dollars

Fabrication de matériaux de performance

Installations de fabrication totale: 12 sites mondiaux

• Amérique du Nord: 5 installations
• Europe: 4 installations
• Asie-Pacifique: 3 installations

Innovation de produit dans les adhésifs et les revêtements

Catégorie de produits	Dépôt de brevets annuel	Part de marché
Adhésifs spécialisés	23 brevets	14.6%
Revêtements avancés	17 brevets	11.3%

Développement de solutions de chimie durable

Investissement en durabilité: 65,2 millions de dollars en 2023

• Recherche de matériel renouvelable: 28,5 millions de dollars
• Technologies de réduction du carbone: 22,7 millions de dollars
• Initiatives de l'économie circulaire: 14 millions de dollars

Expansion du marché mondial et intégration technologique

Expansion géographique	Nouvel investissement d'entrée sur le marché	Budget d'intégration technologique
Région Asie-Pacifique	42,3 millions de dollars	18,6 millions de dollars
Marchés latino-américains	35,7 millions de dollars	15,2 millions de dollars

Ashland Inc. (Ash) - Modèle d'entreprise: Ressources clés

Installations de recherche chimique avancée

Ashland exploite 6 centres de recherche et développement primaires dans le monde, avec un investissement en R&D total de 108,4 millions de dollars au cours de l'exercice 2023. Les installations de recherche totales s'étendent sur environ 250 000 pieds carrés d'espace de laboratoire spécialisé.

Lieu de recherche	Focus spécialisé	En pieds carrés
Wilmington, Delaware	Produits chimiques spécialisés	85 000 pieds carrés
Shanghai, Chine	Matériaux de performance	45 000 pieds carrés

Propriété intellectuelle et portefeuille de brevets

En 2023, Ashland maintient 872 brevets actifs dans le monde, avec une concentration concentrée sur les technologies chimiques spécialisées.

• Distribution des brevets: 62% en Amérique du Nord
• Distribution des brevets: 24% en Europe
• Distribution des brevets: 14% en Asie-Pacifique

Expertise technique spécialisée

Total de la main-d'œuvre: 4 950 employés au 31 décembre 2023. Environ 35% tiennent des diplômes techniques ou scientifiques avancés.

Catégorie des employés	Nombre d'employés	Pourcentage
Chercheurs de doctorat	276	5.6%
Titulaires de maîtres	948	19.2%

Infrastructure de fabrication mondiale

Ashland exploite 19 installations de fabrication dans 8 pays, avec une capacité de production totale de 1,2 million de tonnes par an.

• Lieu de fabrication: États-Unis, Chine, Belgique, Brésil, Inde
• Sites de fabrication totaux: 19
• Capacité de production annuelle: 1,2 million de tonnes métriques

Capacités financières et investissements solides

Mesures financières pour l'exercice 2023: actif total de 3,2 milliards de dollars, avec 412 millions de dollars en espèces et en espèces.

Métrique financière	Montant
Actif total	3,2 milliards de dollars
Equivalents en espèces et en espèces	412 millions de dollars
Investissement annuel de R&D	108,4 millions de dollars

Ashland Inc. (Ash) - Modèle d'entreprise: propositions de valeur

Solutions chimiques spécialisées haute performance

Ashland Inc. génère 2,56 milliards de dollars de revenus annuels (2023 exercices) à partir de solutions chimiques spécialisées sur plusieurs segments de marché.

Catégorie de produits	Segment de marché	Contribution des revenus
Matériaux de performance	Automobile	487 millions de dollars
Additifs spécialisés	Construction	412 millions de dollars
Solutions pharmaceutiques	Soins de santé	336 millions de dollars

Produits durables et respectueux de l'environnement

Ashland investit 78,5 millions de dollars par an dans le développement durable de produits.

• 75% du portefeuille de produits conçu avec des considérations environnementales
• Réduction des émissions de carbone de 22% depuis 2018
• 10 brevets de chimie verte déposés en 2023

Technologies chimiques personnalisées pour diverses industries

Servit 12 secteurs industriels distincts avec des solutions chimiques spécialisées.

Industrie	Niveau de personnalisation	Solutions annuelles développées
Pharmaceutique	Haut	87 formulations uniques
Soins personnels	Moyen	54 produits spécialisés
Fabrication industrielle	Haut	102 solutions sur mesure

Matériaux de performance axés sur l'innovation

Investissement en R&D de 124,3 millions de dollars en 2023, ce qui représente 4,9% des revenus totaux.

• 23 lancements de nouveaux produits dans le segment des matériaux de performance
• 5 technologies révolutionnaires développées
• Plus de 340 projets de recherche actifs

Soutien technique et services de conseil expert

Équipe de support technique dédiée avec 287 ingénieurs et consultants spécialisés.

Type de service	Heures de consultation annuelles	Taux de satisfaction du client
Consultation technique	12 450 heures	94%
Conception de solution personnalisée	6 780 heures	92%
Assistance de la mise en œuvre	4 230 heures	96%

Ashland Inc. (Ash) - Modèle d'entreprise: relations clients

Conseil technique et support d'ingénierie

Ashland fournit un support technique spécialisé dans plusieurs segments de l'industrie, en mettant l'accent sur:

• Génie des solutions pharmaceutiques
• Conseil des applications chimiques spécialisées
• Assistance technique du matériel de performance

Catégorie de support	Heures de soutien annuelles	Temps de réponse moyen
Conseil pharmaceutique	12 500 heures	4,2 heures
Support d'application chimique	8 750 heures	3,7 heures

Partenariats collaboratifs à long terme

Métriques de partenariat clés pour 2024:

• Partenariats stratégiques totaux: 47
• Durée du partenariat moyen: 8,3 ans
• Contribution des revenus de partenariat: 426 millions de dollars

Développement de solutions personnalisées

Segment de l'industrie	Solutions personnalisées développées	Investissement en R&D
Pharmaceutique	24 solutions uniques	87,3 millions de dollars
Soins personnels	18 solutions uniques	62,5 millions de dollars

Plates-formes de fiançailles clients numériques

Statistiques de l'engagement numérique:

• Utilisateurs du portail client en ligne: 3 245
• Téléchargements d'applications mobiles: 12 500
• Fréquence d'interaction numérique: 4,7 fois par mois

Équipes de gestion des comptes dédiés

Niveau de compte	Nombre d'équipes	Comptes moyens par équipe
Niveau d'entreprise	12 équipes	7 comptes
Intermédiaire	24 équipes	15 comptes

Ashland Inc. (Ash) - Modèle d'entreprise: canaux

Force de vente directe

Ashland Inc. maintient une équipe de vente directe dédiée de 287 représentants des ventes professionnelles à partir de 2023, en se concentrant sur des marchés spécialisés industriels et spécialisés chimiques.

Type de canal de vente	Nombre de représentants	Segment du marché cible
Spécialités industrielles	142	Fabrication
Matériaux de performance	95	Construction / automobile
Additifs spécialisés	50	Soins personnels / pharmaceutiques

Plateformes numériques en ligne

Ashland exploite des canaux de vente numériques complets, notamment:

• Site Web d'entreprise avec des capacités de commerce électronique
• Catalogue de produits numériques avec 3 742 listes de produits actifs
• Portail de téléchargement des spécifications techniques

Salons et conférences de l'industrie

Participation annuelle à 24 conférences du commerce international avec un engagement moyen de 1 256 clients potentiels par événement.

Type de conférence	Nombre de conférences	Interactions estimées du client
Génie chimique	8	452
Technologie de fabrication	6	378
Matériaux spécialisés	10	426

Réseaux de distributeurs

Ashland maintient des partenariats stratégiques avec 127 distributeurs mondiaux dans 42 pays.

• Amérique du Nord: 43 distributeurs
• Europe: 37 distributeurs
• Asie-Pacifique: 47 distributeurs

Marketing technique et démonstrations de produits

Approche de marketing technique complète avec 672 événements annuels de démonstration de produits dans le monde.

Type de démonstration	Nombre d'événements	Public cible
Démonstrations de laboratoire	276	Institutions de recherche
Démonstrations industrielles sur place	396	Fabrication des clients

Ashland Inc. (Ash) - Modèle d'entreprise: segments de clientèle

Constructeurs automobiles

Ashland sert des constructeurs automobiles avec des produits chimiques spécialisés et des additifs pour:

• Revêtements et scellants
• Technologies adhésives
• Matériaux de performance

Segment du marché automobile	Contribution des revenus
Revêtements automobiles	287 millions de dollars (2023)
Adhésifs automobiles	214 millions de dollars (2023)

Sociétés de construction et d'infrastructure

Les segments clés des clients comprennent:

• Fabricants de matériaux de construction
• Projets de génie civil
• Développement des infrastructures

Segment du marché de la construction	Revenus annuels
Produits chimiques de construction	412 millions de dollars (2023)
Additifs d'infrastructure	176 millions de dollars (2023)

Industries de soins personnels et de produits de consommation

Ashland fournit des ingrédients spécialisés pour:

• Formulations cosmétiques
• Produits de soins personnels
• Solutions d'hygiène des consommateurs

Segment des soins personnels	Revenu
Ingrédients de soins personnels	345 millions de dollars (2023)
Additifs de produits de consommation	203 millions de dollars (2023)

Secteurs pharmaceutique et de santé

Solutions de spécialité pour:

• Excipients pharmaceutiques
• Matériaux de dispositifs médicaux
• Formulations de produits de soins de santé

Segment du marché des soins de santé	Revenus annuels
Ingrédients pharmaceutiques	267 millions de dollars (2023)
Spécialité des soins de santé chimiques	189 millions de dollars (2023)

Marchés chimiques industriels et spécialisés

Servir diverses applications industrielles:

• Lubrifiants industriels
• Solutions chimiques spécialisées
• Matériaux de performance

Segment du marché industriel	Contribution des revenus
Produits chimiques industriels	398 millions de dollars (2023)
Matériaux de performance spécialisés	276 millions de dollars (2023)

Ashland Inc. (Ash) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2023, Ashland Inc. a déclaré des dépenses de R&D de 73,8 millions de dollars, ce qui représente 3,2% du total des revenus de l'entreprise.

Année	Dépenses de R&D	Pourcentage de revenus
2023	73,8 millions de dollars	3.2%
2022	68,5 millions de dollars	3.0%

Frais de fabrication et de production

Les coûts de fabrication totaux pour Ashland Inc. en 2023 étaient de 412,6 millions de dollars, avec une ventilation comme suit:

• Coûts de main-d'œuvre directes: 89,3 millions de dollars
• Dépenses de matières premières: 223,4 millions de dollars
• Fabrication des frais généraux: 99,9 millions de dollars

Gestion mondiale de la chaîne d'approvisionnement

Les dépenses opérationnelles de la chaîne d'approvisionnement pour 2023 ont totalisé 156,2 millions de dollars, notamment:

Catégorie de coûts	Montant
Logistique	62,4 millions de dollars
Gestion des stocks	45,7 millions de dollars
Relations avec les fournisseurs	48,1 millions de dollars

Maintenance des infrastructures technologiques

Les coûts de technologie et d'infrastructure informatique pour 2023 étaient de 87,5 millions de dollars, comprenant:

• Infrastructure matérielle: 32,6 millions de dollars
• Licence logicielle: 28,9 millions de dollars
• Investissements en cybersécurité: 26,0 millions de dollars

Acquisition et rétention de talents

Les dépenses de gestion des ressources humaines et des talents en 2023 s'élevaient à 214,3 millions de dollars:

Catégorie de dépenses	Montant
Salaires et salaires	168,7 millions de dollars
Avantages sociaux	35,6 millions de dollars
Recrutement et formation	10,0 millions de dollars

Ashland Inc. (Ash) - Modèle commercial: Strots de revenus

Ventes de produits chimiques spécialisés

Revenus de produits chimiques spécialisés totaux pour 2023: 2,436 milliards de dollars

Catégorie de produits	Revenus ($ m)	Pourcentage des ventes totales
Produits chimiques de soins personnels	$782.5	32.1%
Revêtements et produits chimiques de construction	$654.3	26.9%
Spécialités industrielles	$599.2	24.6%

Licence de matériel de performance

Revenus de licence annuelle pour 2023: 124,7 millions de dollars

• Licence d'ingrédient pharmaceutique: 53,2 millions de dollars
• Licence de technologie des matériaux avancés: 41,5 millions de dollars
• Licence de polymère spécialisée: 30,0 millions de dollars

Contrats de solution chimique personnalisés

Revenus de contrat de solution chimique personnalisée totale: 345,6 millions de dollars

Segment de l'industrie	Valeur du contrat ($ m)
Pharmaceutique	$156.3
Automobile	$89.7
Électronique	$99.6

Services de conseil technique

Revenus de conseil technique pour 2023: 87,4 millions de dollars

• Conseil d'optimisation des processus chimiques: 42,6 millions de dollars
• Conseil de conformité réglementaire: 29,8 millions de dollars
• Services de conseil en durabilité: 15,0 millions de dollars

Revenus d'expansion du marché mondial

Répartition internationale des revenus pour 2023: 1,124 milliard de dollars

Région géographique	Revenus ($ m)	Taux de croissance
Europe	$412.6	6.3%
Asie-Pacifique	$389.2	8.7%
l'Amérique latine	$207.5	5.9%
Moyen-Orient et Afrique	$114.7	4.2%

Ashland Inc. (ASH) - Canvas Business Model: Value Propositions

You're looking at the core value Ashland Inc. (ASH) delivers across its specialized markets right now, late in fiscal year 2025. The numbers tell a story of focus amidst market softness, with total fiscal-year 2025 sales landing at $1.824 billion, down 14%. Still, the focus on high-value segments is clear.

Efficacy: Amplifying performance of customer products (e.g., high-value excipients)

The value here is in enabling complex formulations, particularly in Life Sciences. For example, in the third quarter of 2025, the Life Sciences segment generated $162 million in sales, contributing $54 million in adjusted EBITDA. This segment saw stability in pharma, driven by high-value cellulosic excipients. The broader global pharmaceutical excipients market is valued at approximately $10.8 billion in 2025. Solid dosage forms, where Ashland's products are key, command an estimated market share of around 68.0% in 2025.

Here's a look at the segment performance as of late 2025:

Segment	Q3 2025 Sales (Millions USD)	Q3 2025 Adj. EBITDA (Millions USD)	Market Context (2025)
Life Sciences	$162 million	$54 million	North America Excipients Market Share: 40.7%
Personal Care	$147 million	$41 million	Personal Care Products Market Size: $535.18 billion
Specialty Additives	$131 million	$26 million	Q4 Adjusted EBITDA Margin: 25%

Integrity: Ensuring product quality and regulatory compliance, especially in Life Sciences

Product integrity translates directly into regulatory assurance for customers. Ashland supported this by expanding its pharmaceutical excipient portfolio in November 2025 with a new line of cellulose-based polymers tailored for injectable and biologic formulations. This focus on advanced functionalities helps customers meet stringent requirements for next-generation drugs. The Life Sciences segment achieved an Adjusted EBITDA margin of over 30% in fiscal year 2025, showing margin strength in this high-integrity area.

Allure/Usability: Improving the aesthetic and application of Personal Care products

In Personal Care, the value proposition centers on aesthetics and application performance. The Personal Care segment showed growth, with Q1 fiscal 2025 sales increasing by 4% year-over-year. This aligns with the broader trend where 74% of consumers prioritize organic ingredients in personal care, as of a March 2025 study. The global Personal Care Ingredients Market is projected to reach $13.9 billion by 2025.

Key drivers in this segment include:

• Emulsifiers leading with a 25% share in the ingredients market.
• Skin care accounting for 33.91% of revenue share in 2024.
• Premium products projected to grow at a 7.44% CAGR to 2030.

Sustainable and bio-based ingredients to meet customer ESG goals

Ashland Inc. has set specific targets to address environmental impact across its value chain. You need to watch these metrics as they directly impact customer sourcing decisions.

Ashland's stated sustainability targets include:

• Reduce Scope 1 and 2 emissions by 50.4% from 2022 to 2032.
• Reduce Scope 3 emissions by 50.4% from 2022 to 2032.
• Achieve 25% renewable energy usage by 2025.
• Ensure 100% of new product launches are naturals, nature-derived or biodegradable synthetics by 2025.
• Ensure >90% of natural or nature-derived ingredients are based on sustainably sourced raw materials by 2025.

To be fair, the company's net impact ratio, as measured by The Upright Project, was reported at -67.9%, with GHG emissions being a primary area of negative impact.

Finance: draft 13-week cash view by Friday.

Ashland Inc. (ASH) - Canvas Business Model: Customer Relationships

You're looking at how Ashland Inc. manages its connections with customers, especially in late 2025, which is all about targeted support and digital efficiency. This is critical because the company is focused on high-value markets like Life Sciences.

Dedicated technical support and co-creation for custom formulations.

Ashland Inc. embeds its technical expertise directly into the customer interaction, particularly for specialized needs. This is evident through the digital connection points where customers can reach technical personnel. For instance, the iSolve℠ customer portal provides a direct connection to Ashland expert solvers across various business units, including Specialty Additives and Crop Care. This structure supports co-creation by giving formulation teams immediate access to technical and marketing information needed for custom work.

Digital self-service via the iSolve℠ customer portal for on-demand information.

The rollout of the iSolve℠ portal across key segments solidifies the digital self-service channel. Ashland launched the portal for Specialty Additives customers in September 2025 and for Crop Care customers in March 2025. This digital platform is designed to provide instant access to robust material, which is a key part of the customer experience strategy. The portal allows for quick sample requests and downloads of important regulatory documents, helping customers move faster.

Here's a look at what the digital self-service portal offers:

• Simple, comprehensive search access to product information.
• Display and download of important regulatory documents.
• Access to technical, marketing, and formulation information.
• Ability to enter sample requests quickly.

High-touch, relationship-based sales for large, strategic accounts.

For strategic, high-value areas, the relationship remains personal and high-touch. The Life Sciences segment, which includes Pharma, remains resilient, driven by demand for high-value excipients, tablet coatings, and injectables. This focus area delivered a full-year 2025 Adjusted EBITDA Margin of 30 percent. The segment's Q4 fiscal 2025 sales totaled $173 million. This performance in a core area suggests that large, strategic accounts receive dedicated, relationship-based attention to maintain that growth momentum.

Focus on 'ease of doing business' (a core Life Sciences strategy).

The commitment to making business easier is explicitly called out as a critical Life Sciences strategy. This focus translates into operational improvements that benefit the customer experience. The rollout of the iSolve™ pharma customer portal was directly linked to this focus on customer relationships. Ashland Inc. serves customers in over 100 countries, employing approximately 2,900 passionate solvers as of late 2025. Simplifying interactions through digital tools helps manage this global footprint effectively.

The digital and high-touch approaches work together, as seen in the capabilities provided:

Customer Relationship Element	Supporting Data Point	Applicable Segment/Date
Digital Self-Service Access	iSolve℠ launched for Specialty Additives	September 2025
High-Touch Support	Connection to Ashland expert solvers	Standard Portal Feature
Strategic Segment Performance	Life Sciences Adjusted EBITDA Margin	30 percent (FY 2025)
Digital Self-Service Access	iSolve℠ launched for Crop Care	March 2025

Finance: draft 13-week cash view by Friday.

Ashland Inc. (ASH) - Canvas Business Model: Channels

You're looking at how Ashland Inc. (ASH) gets its specialty additives and ingredients into the hands of its customers across the globe. It's a multi-pronged approach, balancing direct relationships with strategic third-party reach, all supported by a global operational backbone.

The company serves customers in more than 100 countries. For fiscal year 2025, Ashland expects total sales to fall within the range of $1.90 billion to $2.05 billion.

Direct global sales force to major pharmaceutical and personal care OEMs

Ashland Inc. maintains a direct sales presence to target major Original Equipment Manufacturers (OEMs) in its core, high-value markets like pharmaceuticals and personal care. This direct channel is crucial for managing complex, high-volume, or highly technical product lines where deep collaboration is needed. For instance, in Q2 2025, the company reported quarterly sales of $463.0 million. The direct sales force is staffed by approximately 2,960 employees, described as passionate, tenacious solvers, who support these critical customer relationships.

Third-party distributors for regional market penetration (e.g., Tilley)

To ensure deep penetration in specific regional or vertical markets, Ashland relies on established third-party distribution partners. This strategy helps manage the long tail of smaller customers or provides specialized local expertise. A concrete example of this channel in action is the appointment of Tilley Distribution as the new exclusive distribution partner for Ashland's food and beverage ingredients in the United States, announced on October 6, 2025. Tilley now represents Ashland's cellulosic hydrocolloids, including aqualon™ CMC, benecel™ MC, and aerowhip™ HPC, to food, beverage, and nutraceutical customers across the U.S.

Global manufacturing and distribution centers in North America, Europe, and Asia Pacific

The physical movement of product relies on a network of manufacturing and lab facilities strategically placed to serve global demand. This infrastructure supports the direct sales force and distributors alike. While the structure evolves, the established footprint includes key operational hubs across the major economic regions. Here's a look at the locations cited for the Specialty Additives segment, which represented 39% of Ashland's total consolidated sales in fiscal 2021, giving you a sense of the scale of the physical network:

Region	Specific Locations Mentioned
North America	Huntsville, Alabama; Parlin, New Jersey; Hopewell, Virginia
Europe	Doel-Beveren, Belgium; Alizay, France; Dusseldorf, Germany; Zwijndrecht, the Netherlands; Bradford and Newton Aycliffe, United Kingdom
Asia Pacific	Nanjing, China; Shanghai, China; Mumbai, India

These facilities support the company's operations across the Americas, Europe, the Middle East, Africa, and Asia Pacific.

Online digital platforms for product data and technical literature (iSolve℠)

To enhance efficiency and customer engagement, Ashland uses dedicated digital channels to deliver essential product and regulatory information on demand. This reduces the load on the direct sales force for routine inquiries. You have two key portals here:

• iSolve℠ customer portal for specialty additives: Launched in September 2025, this portal gives customers instant access to product information, regulatory documents for download, technical/marketing information, and allows for quick sample requests.

• iSolve℠ information on demand for food and beverage: Launched in February 2024, this portal serves the Life Sciences segment, allowing customers to search by product name, market segment, application, or function.

The goal of these platforms is to allow Ashland expert solvers to respond to requests more efficiently. Finance: draft 13-week cash view by Friday.

Ashland Inc. (ASH) - Canvas Business Model: Customer Segments

You're looking at the core customer groups Ashland Inc. (ASH) serves as of late 2025, which is a mix of high-margin consumer-facing markets and more cyclical industrial applications.

The company's strategy emphasizes its focus on consumer-facing end markets, with 85% of the portfolio serving these areas following portfolio optimization actions, including the divestiture of the Nutraceuticals business and the Avoca sale.

Here's a breakdown of the key customer segments based on the latest reported segment performance for the fourth quarter of fiscal year 2025 (Q4 2025) and full-year 2025 figures:

• Global Pharmaceutical companies (Life Sciences segment).
• Personal Care and Home Care manufacturers (e.g., skin/hair care).
• Architectural Coatings and Construction material producers (part of Specialty Additives).
• Crop Care, Energy, and other Industrial application customers (part of Specialty Additives and Intermediates).

The Life Sciences segment, serving global pharmaceutical companies, continues to be a margin leader, delivering an Adjusted EBITDA Margin of 31.8% in Q4 2025, and achieving over 30% for the full fiscal year 2025. This strength is driven by continued momentum in cellulosic excipients, tablet coatings, and injectables.

The Personal Care segment also shows resilience, with Q4 2025 Adjusted EBITDA reaching $55 million on sales of $151 million, yielding a 32% margin for that quarter. This segment saw a 4% year-over-year sales increase in Q1 2025, showing strong demand across end markets and regions.

The remaining industrial and specialty customers are grouped within Specialty Additives and Intermediates. Specialty Additives, which includes Architectural Coatings and Construction materials, posted Q4 2025 sales of $131 million and an Adjusted EBITDA Margin of 22.1%, though this segment faced softness in China and North America.

The Intermediates segment, which touches Energy and other industrial applications, experienced trough-like conditions, with Q4 2025 sales at $33 million and the lowest margin profile at 15.2%.

Here's a quick look at the Q4 2025 segment revenue and profitability:

Customer Segment Group	Ashland Segment	Q4 2025 Sales (Millions USD)	Q4 2025 Adjusted EBITDA Margin (%)	Q4 2025 Adjusted EBITDA (Millions USD)
Global Pharmaceutical companies	Life Sciences	$173	31.8	$55
Personal Care and Home Care manufacturers	Personal Care	$151	32	$55
Architectural Coatings and Construction material producers	Specialty Additives	$131	22.1	$29
Crop Care, Energy, and other Industrial applications	Intermediates	$33	15.2	$5

Overall, Ashland's consolidated sales for the full fiscal year 2025 were $1.824 billion, with an Adjusted EBITDA of $119 million and a consolidated margin of 25% in the fourth quarter alone.

Ashland serves customers in more than 100 countries globally. Key customers also include general industrial manufacturers, plastics and polymers producers, agricultural firms, and producers of electronic components and systems.

The company is targeting fiscal year 2026 sales between $1.835 billion and $1.905 billion, with Adjusted EBITDA targeted between $400 million and $430 million, showing management's expectation for growth to return to the Life Sciences and Personal Care platforms.

Finance: draft 13-week cash view by Friday.

Ashland Inc. (ASH) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep Ashland Inc.'s complex chemical operations running, which is a mix of fixed overhead, heavy capital deployment, and ongoing efficiency drives. Honestly, for a specialty chemical company, the cost structure is dominated by a few major buckets.

Raw material procurement and energy costs for chemical manufacturing.

The cost of goods sold (COGS), which heavily includes raw materials and energy, is a primary driver. While specific raw material spend isn't broken out, management noted in late 2024 that their outlook for fiscal year 2025 included assumptions for a generally stable raw material environment. Energy costs are embedded within production expenses, which saw unfavorable impacts in Q1 2025 that were later offset by cost savings realization in Q4 2025.

Significant investment in R&D and specialized technical labor.

Investment in innovation is a constant, requiring specialized technical labor. Research and Development (R&D) expenses fluctuate based on project load. For example, the Research and Development Expense was reported at $13.00M for the quarter ending June 30, 2025. Selling, Administrative, Research and Development (SARD) expenses saw an increase in Q1 2025, primarily due to the reset of variable compensation expenses, but later decreased in Q4 2025 as restructuring actions were realized.

Manufacturing optimization costs, targeting $60 million in savings.

Ashland Inc. has been aggressively pursuing operational efficiencies through its manufacturing network optimization plan, which targets total pre-tax savings of $60 million once fully achieved. Progress in fiscal year 2025 included the completion of the Hydroxyethyl Cellulose (HEC) network optimization. The expected savings under current conditions were projected to be $50 million to $55 million, with $5 million realized in the year ending late 2025 and $18 million projected for the following year. The fourth quarter of fiscal 2025 saw $5 million in savings realized from this manufacturing optimization effort.

Restructuring costs, with $30 million in savings realized in FY2025.

The company completed its $30 million restructuring plan, which was initiated to offset stranded costs from portfolio optimization actions. The plan targeted a 50 percent realization in fiscal year 2025. In the fourth quarter of fiscal 2025, approximately $20 million in restructuring savings were realized, helping to offset other headwinds to Adjusted EBITDA.

High depreciation and amortization from past acquisitions and assets.

Depreciation and Amortization (D&A) represents a significant non-cash cost, often reflecting past capital expenditures and acquisitions. Total Depreciation and Amortization Expense was reported around $274.0M for a recent period. Specific non-routine charges, like accelerated depreciation expense related to Life Sciences assets, amounted to $13 million for the three months ended March 31, 2025.

Here's a quick look at some of the key cost-related metrics we've seen:

• Manufacturing Optimization Target: $60 million
• Restructuring Plan Size: $30 million
• Total Depreciation and Amortization Expense: $274.0M
• Q2 2025 R&D Expense: $13.00M
• Restructuring Savings Realized in Q4 2025: Approximately $20 million

To put these cost drivers in context against the overall cost base, here is a snapshot of related financial figures:

Financial Metric (Period)	Amount (Millions USD)	Context
Total Depreciation and Amortization Expense (Recent)	$274.0M	Total non-cash charge from assets.
Restructuring Savings Realized (Q4 FY2025)	Approx. $20 million	Partial realization from the $30M plan.
Manufacturing Optimization Savings Realized (FY2025 Year-to-Date)	$5 million	Savings realized within the fiscal year.
Manufacturing Optimization Savings Projected (Next Year)	$18 million	Projection for the following fiscal year.
Accelerated Depreciation - Life Sciences (Q1 2025)	$13 million	Specific non-cash charge for the quarter.

Finance: draft 13-week cash view by Friday.

Ashland Inc. (ASH) - Canvas Business Model: Revenue Streams

You're looking at the core ways Ashland Inc. brings in money as they finalize their portfolio transformation. The primary engine remains the Sales of specialty ingredients and additives to Life Sciences, which was the largest contributor to revenue streams. Full-year fiscal 2025 sales totaled $1.824 billion.

The Life Sciences segment, which includes pharma applications, delivered a strong performance, achieving an Adjusted EBITDA margin that surpassed 30% for the full year. For the fourth quarter of fiscal 2025, this segment posted sales of $162 million and an Adjusted EBITDA of $54 million.

Next up is the Sales of high-margin Personal Care ingredients. This area showed resilience. In the fourth quarter of fiscal 2025, Personal Care achieved an Adjusted EBITDA margin of 28.5%. The segment's Q3 2025 sales were $147 million, with an Adjusted EBITDA of $41 million.

Revenue also comes from Fees for technical services and custom formulation solutions, embedded within the segment reporting, particularly in Life Sciences, supporting the high-margin ingredient sales. Anyway, here's a quick look at the top-line and profitability numbers for the full fiscal year 2025.

Financial Metric	Amount/Value
Total Full-Year Fiscal 2025 Sales	$1.824 billion
Full-Year Fiscal 2025 Adjusted EBITDA (Reported)	$401 million
Full-Year Fiscal 2025 Adjusted EBITDA (Guidance Range)	$400 million to $410 million
FY2025 Net Loss (GAAP)	$845 million

What this estimate hides is the $845 million net loss in FY2025 due to non-cash impairments, showing the transition is still financially noisy. The core business, though, is generating an Adjusted EBITDA of around $400 million to $410 million, which is the real number to watch.

The revenue streams are segmented by end-market focus:

• Life Sciences: Largest contributor, pharma stability noted.
• Personal Care: High-margin ingredients, resilient performance.
• Specialty Additives: Faced softness in certain markets.
• Intermediates: Pricing remained challenged near a cyclical low.

The non-cash impairments driving the net loss included $706 million in goodwill impairment and $175 million from the sale of the Avoca business line. Finance: draft 13-week cash view by Friday.