Saturday 17 October 2026
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NewMarket Corporation
NEU Basic Materials Specialty Chemicals
NewMarket Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, down 2.20% from fiscal 2024. In the quarter to June 2026, revenue grew 6.96%, EPS grew 22.8%, free cash flow fell 6.94% and total debt rose 1.54%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
876.01
11.81
−1.33%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 322.54 | 377.27 | 352.89 | 382.88 | 304.65 | 297.29 | 280.28 | 310.90 | 494.04 | 480.00 |
Analyst estimates 2026–2028 Powerpack |
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| High | 447.97 | 483.86 | 437.63 | 505.16 | 488.81 | 432.55 | 360.77 | 578.33 | 650.00 | 875.97 | |||||
| People | |||||||||||||||
| People | Employees | 1,998 | 2,223 | 2,089 | 2,118 | 2,105 | 2,104 | 2,058 | 2,000 | 2,060 | 2,050 | ||||
| Revenue/emp, $m | 1.03 | 0.99 | 1.10 | 1.03 | 0.96 | 1.12 | 1.34 | 1.35 | 1.35 | 1.33 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 2,049 | 2,198 | 2,290 | 2,190 | 2,011 | 2,356 | 2,765 | 2,698 | 2,787 | 2,725 | ||||
| Gross margin, % | 33.04 | 28.95 | 25.57 | 28.76 | 29.59 | 23.25 | 23.17 | 28.63 | 31.81 | 31.46 | |||||
| EBT | 343 | 315 | 290 | 332 | 331 | 248 | 348 | 489 | 584 | 561 | |||||
| EBT margin, % | 16.75 | 14.35 | 12.68 | 15.14 | 16.47 | 10.51 | 12.58 | 18.12 | 20.96 | 20.57 | |||||
| Net income | 243 | 191 | 235 | 254 | 271 | 191 | 280 | 389 | 462 | 419 | |||||
| Depreciation | 45 | 55 | 72 | 88 | 84 | 84 | 82 | 78 | 117 | 122 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 173.27 | 185.93 | 198.84 | 196.16 | 183.46 | 219.05 | 275.52 | 281.58 | 291.63 | 290.34 | ||||
| Earnings | 20.54 | 16.08 | 20.34 | 22.73 | 24.64 | 17.71 | 27.77 | 40.44 | 48.22 | 44.44 | |||||
| Cash flow | 29.88 | 20.53 | 17.19 | 30.20 | 25.92 | 15.37 | 10.82 | 60.19 | 54.38 | 60.62 | |||||
| Capex | (12.08) | (12.58) | (6.48) | (5.32) | (6.69) | (7.34) | (5.60) | (5.04) | (6.00) | (8.27) | |||||
| Free cash flow | 17.80 | 7.96 | 10.71 | 24.88 | 19.24 | 8.03 | 5.23 | 55.15 | 48.38 | 52.35 | |||||
| Book value | 40.86 | 50.88 | 42.55 | 61.18 | 69.32 | 70.86 | 75.97 | 112.39 | 152.97 | 189.46 | |||||
| Shares, m | 12 | 12 | 12 | 11 | 11 | 11 | 10 | 10 | 10 | 9 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 20.88 | 25.12 | 20.23 | 21.39 | 16.18 | 19.49 | 11.59 | 13.55 | 10.96 | 15.47 | ||||
| P/S | 2.47 | 2.17 | 2.07 | 2.48 | 2.17 | 1.56 | 1.17 | 1.95 | 1.81 | 2.37 | |||||
| P/B | 10.49 | 7.93 | 9.69 | 7.95 | 5.75 | 4.84 | 4.25 | 4.87 | 3.45 | 3.63 | |||||
| EV/Sales | 2.63 | 2.41 | 2.38 | 2.72 | 2.41 | 1.85 | 1.64 | 2.27 | 2.26 | 2.79 | |||||
| EV/FCF | 25.58 | 56.24 | 44.16 | 21.41 | 23.03 | 50.54 | 86.30 | 11.60 | 13.61 | 15.48 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 353 | 243 | 198 | 337 | 284 | 165 | 109 | 577 | 520 | 569 | ||||
| Capex | (143) | (149) | (75) | (59) | (73) | (79) | (56) | (48) | (57) | (78) | |||||
| Free cash flow | 211 | 94 | 123 | 278 | 211 | 86 | 52 | 529 | 462 | 491 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 542 | 517 | 542 | 571 | 586 | 663 | 768 | 675 | 655 | 640 | ||||
| Total debt | 507 | 603 | 771 | 660 | 615 | 1,139 | 1,004 | 644 | 971 | 883 | |||||
| Net debt | 315 | 519 | 698 | 516 | 490 | 680 | 935 | 532 | 894 | 806 | |||||
| Shareholders’ equity | 483 | 602 | 490 | 683 | 760 | 762 | 762 | 1,077 | 1,462 | 1,778 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 17.98 | 12.18 | 13.74 | 14.17 | 14.15 | 8.48 | 11.22 | 16.44 | 16.94 | 12.60 | ||||
| ROIC | 27.77 | 18.00 | 15.40 | 17.59 | 15.60 | 11.17 | 13.08 | 18.77 | 15.66 | 13.15 | |||||
| ROE | 55.80 | 35.12 | 42.92 | 43.28 | 37.44 | 25.03 | 36.56 | 42.13 | 36.30 | 25.75 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
NewMarket Corporation vs peers in Specialty Chemicals (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ALB Albemarle Corporation | $11.6B | 199× | 14.9× | +31.08% (above 0%: growing) | n/m | +708.43% (above 0%: growing) | 33.86% | 25.98% | Compare |
| SSL Sasol Ltd. | $10.1B | 3.5× | 5.2× | −5.20% (below 0%: shrinking) | +20.86% (above 0%: growing) | +6,912.65% (above 0%: growing) | 31.35% | 0.00% | Compare |
| SOLS Solstice Advanced Materials Inc. | $9.5B | 27.4× | 27.8× | +11.13% (above 0%: growing) | −14.99% (below 0%: shrinking) | +70.83% (above 0%: growing) | 32.23% | 17.16% | Compare |
| ESI Element Solutions Inc. | $8.7B | 47.4× | 33.3× | +56.41% (above 0%: growing) | +60.00% (above 0%: growing) | +29.19% (above 0%: growing) | 34.15% | 11.63% | Compare |
| SQM Sociedad Quimica y Minera S.A. | $8.6B | 11.3× | 12.1× | +138.12% (above 0%: growing) | +381.25% (above 0%: growing) | −63.75% (below 0%: shrinking) | 51.05% | 48.62% | Compare |
| NEU NewMarket Corporation | $8.2B | 18.8× | — (loss-making) | +6.96% (above 0%: growing) | +22.80% (above 0%: growing) | −6.94% (below 0%: shrinking) | 32.45% | 21.91% | |
| WLK Westlake Corporation | $8.1B | — (loss-making) | 24.8× | +10.77% (above 0%: growing) | n/m | +184.09% (above 0%: growing) | 19.93% | 11.13% | Compare |
| EMN Eastman Chemical Company | $7.3B | 16.1× | 11.5× | +9.88% (above 0%: growing) | +31.15% (above 0%: growing) | +49.40% (above 0%: growing) | 22.28% | 12.38% | Compare |
| AXTA Axalta Coating Systems Ltd. | $7.2B | 20.5× | 13.6× | +3.14% (above 0%: growing) | −16.00% (below 0%: shrinking) | +7.22% (above 0%: growing) | 34.55% | 12.41% | Compare |
| Median of peers | $8.7B | 20.5× | 14.3× | +10.95% | +26.01% | +60.12% | 33.05% | 12.40% |
NewMarket Corporation (NEU) key facts
- Concern: NewMarket Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, down 2.20% from fiscal 2024.
- Concern: Net income was $418.7 million, or $44.44 per share (basic), a net margin of 15.3%.
- NewMarket Corporation (NEU) is a Specialty Chemicals company in the Basic Materials sector, listed on the New York Stock Exchange.
- As of October 16, 2026, NEU traded at $876.01, a market capitalization of $8.2 billion.
- At that price the stock trades at 18.8× trailing-twelve-month earnings and 2.9× sales; its P/E is higher than 59% of its own readings over the past ten years.
- NewMarket Corporation pays an annual dividend of $12.00 per share, a yield of 1.37%, with a payout ratio of 25.8%.
- Return on equity was 25.8% and debt-to-equity 0.46.
- Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 4.44 (safe zone) for fiscal 2025.