Innospec Inc. (IOSP) intrinsic value & 10-year financials

Innospec Inc. (IOSP) has a Graham intrinsic value of $65.11 per share. At $96.81 on Oct 17, 2026, the stock trades 49% above that value. Over the last 10 fiscal years revenue grew 8.1% a year to $1.8B, with an average return on invested capital of 10.7%.

Graham intrinsic value
$65.11
Share price (Oct 17, 2026)
$96.81
Price vs Graham value
49% above
Market cap
$2.4B
Revenue (FY2025)
$1.8B
Revenue growth (10-yr CAGR)
8.1%
ROIC (10-yr avg)
10.7%
Free cash flow (FY2025)
—

IOSP 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $1.8B $116.6M $4.67 — 7.3% 10.8%
FY2024 $1.8B $35.6M $1.42 — 9.6% 15.9%
FY2023 $1.9B $139.1M $5.56 — 8.3% 13.6%
FY2022 $2.0B $133.0M $5.32 — 9.5% 14.7%
FY2021 $1.5B $93.1M $3.75 — 8.9% 10.3%
FY2020 $1.2B $28.7M $1.16 — 2.8% 2.7%
FY2019 $1.5B $112.2M $4.54 — 9.9% 12.2%
FY2018 $1.5B $85.0M $3.45 — 9.0% 9.4%
FY2017 $1.3B $61.8M $2.52 — 9.9% 7.4%
FY2016 $883.4M $81.3M $3.33 — 11.9% 10.1%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

INNOSPEC INC. is a consistent compounder, expanding top-line revenue at 8.1% annually over the past decade.

INNOSPEC INC. returns on capital have been average, hovering around 10.7% ROIC over the decade.

INNOSPEC INC. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, INNOSPEC INC. is modeled at 3.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $65.11 per share.

IOSP stock: frequently asked questions

What is the intrinsic value of Innospec Inc. (IOSP) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 3.8% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, IOSP's intrinsic value is about $65.11 per share.

Is IOSP stock undervalued?

At $96.81 (close on Oct 17, 2026), IOSP trades 49% above its Graham value of $65.11. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

How fast has Innospec Inc. grown?

Revenue went from $883.4M in fiscal 2016 to $1.8B in fiscal 2025, a compound annual growth rate of 8.1%. Net income was $116.6M in fiscal 2025.

What is IOSP's return on invested capital?

Average ROIC over the last 10 fiscal years was 10.7%, and average return on equity was 9.5%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this IOSP data come from?

From Innospec Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 5, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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