Ascent Industries

Cash and liquidity are strengths: $47.8 million cash and no borrowings at March 31, 2026; $14.2 million availability under a $30 million ABL through 2027; covenants only spring if availability falls below a set threshold. 2025 and Q1 2026 continuing ops cash flow from operations were negative due mainly to working-capital timing and scaling costs, but the company has ample liquidity to fund capex (guided up to ~$5 million in 2026) and small bolt‑ons like Midwest Graphics ($14 million, funded with cash on hand).

Zero net debt and sizable cash give resilience in a downturn.