Professional
Added to YB: 2025-05-07
Pitch date: 2025-05-05
NGVT [bullish]
Ingevity Corporation
+60.5%
current return
Author Info
Idea Brunch is an interview series where great off-the-beaten-path investors share their best ideas and insights about their research process. Yellowbrick users get a 20% discount for life
Company Info
Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America.
Market Cap
$1.8B
Pitch Price
$36.68
Price Target
124.00 (+111%)
Dividend
N/A
EV/EBITDA
7.99
P/E
-4.97
EV/Sales
2.16
Sector
Chemicals
Category
special_situation
Idea Brunch with Colin King of Circle City Capital - Ingevity Corporation
NGVT: Specialty chemicals w/core activated carbon biz for vehicle emissions - 50%+ EBITDA margins, low capex. Revenue grew from $218m to $610m. Activist Vision One pushing for asset sales/$124 PT. Trading at $32/share ($1.17bn mkt cap), $1.15bn net debt, $400m EBITDA guidance - 8-12x peer multiple = $56-100/share. Tariff risk.
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