NEUNYSEIndustrial Organic ChemicalsFiscal year ends December 31
NEWMARKET CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$879.80+3.79 (+0.43%)
Close on Oct 19, 2026
- Market cap
- $8.06B
- P/E (TTM)
- 18.9
- Dividend yield
- 1.28%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
31.5%+1.9 pts over 5 years
Operating margin
20.0%+4.4 pts over 5 years
Net margin
15.4%+1.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.2% | -0.5% | +6.3% | +2.4% | |
| Gross profit | -3.3% | +10.2% | +7.6% | +2.4% | |
| Operating income | -7.8% | +15.3% | +11.8% | +4.3% | |
| Net income | -9.4% | +14.4% | +9.1% | +5.8% | |
| EPS, diluted | -7.8% | +17.0% | +12.5% | +8.6% | |
| Free cash flow | +6.3% | +110.8% | +20.8% | +13.3% | |
| Dividend per share | +12.5% | +10.2% | +8.2% | +6.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 55.9% | 37.5% | 25.8% | |
| Return on assets | 18.0% | 14.2% | 12.6% | |
| Current ratio | 2.84 | 2.87 | 2.53 | |
| Debt to equity | 1.05 | 0.79 | 0.50 | |
| Net debt to EBITDA | 0.79× | 1.20× | 1.21× | |
| Interest coverage | 21.1× | 11.8× | 13.7× | |
| Inventory turnover | 4.1× | 3.7× | 3.7× | |
| Capex to revenue | 7.0% | 4.6% | 2.8% | |
| Diluted shares | 12M | 11M | 9M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Newmarket generated $1.94B from operations and spent $1.33B on capital expenditure, dividends and share buybacks. 24% of that went back into the business.
Generated
$1.94B
Used
$1.33B
Capital expenditure$318.35M24%Dividends$457.04M34%Share buybacks$555.69M42%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin15.4%
×Asset turnover0.82×
×Equity multiplier2.04×
=Return on equity, FY202525.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 15.4% | 0.82× | 2.04× | 25.8% |
| FY2024 | 16.6% | 1.02× | 2.14× | 36.4% |
| FY2023 | 14.4% | 1.14× | 2.56× | 42.3% |
| FY2022 | 10.1% | 1.11× | 3.26× | 36.7% |
| FY2021 | 8.1% | 1.05× | 2.95× | 25.1% |
| FY2020 | 13.5% | 1.05× | 2.65× | 37.5% |
| FY2019 | 11.6% | 1.22× | 3.05× | 43.4% |
| FY2018 | 10.3% | 1.34× | 3.12× | 43.0% |
| FY2017 | 8.7% | 1.41× | 2.88× | 35.1% |
| FY2016 | 11.9% | 1.52× | 3.10× | 55.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$418.75M
- Cash generatingOperating cash flow above zero$568.97M
- Return on assets improvedROA up on the prior year20.0% → 13.4%
- Earnings backed by cashOperating cash flow above net income$568.97M vs $418.75M
- Less leverageLong-term debt to assets fell31.0% → 25.3%
- Better liquidityCurrent ratio rose2.75 → 2.53
- No dilutionShare count did not rise10M → 9M
- Gross margin improvedGross margin up on the prior year31.81% → 31.46%
- More efficientAsset turnover rose1.21 → 0.87