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NewMarket Corporation (NEU) 10-Year Financial Performance & Capital Metrics

NEU • • Industrial / General
Basic MaterialsSpecialty ChemicalsMetal Processing & Industrial LubricantsMetal Treatment & Processing Chemicals
AboutNewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils. It also provides fuel additives that are used to enhance the oil refining process and the performance of gasoline, diesel, biofuels, and other fuels to industry, government, original equipment manufacturers, and individual customers. In addition, the company engages in the antiknock compounds business, as well as contracted manufacturing and services activities; and owns and manages a real property in Virginia. It operates in North America, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and India. NewMarket Corporation was founded in 1887 and is headquartered in Richmond, Virginia.Show more
  • Revenue $2.79B +3.3%
  • EBITDA $707M +26.0%
  • Net Income $462M +18.9%
  • EPS (Diluted) 48.22 +19.2%
  • Gross Margin 31.81% +11.1%
  • EBITDA Margin 25.37% +22.0%
  • Operating Margin 21.17% +18.3%
  • Net Margin 16.59% +15.2%
  • ROE 36.43% -13.8%
  • ROIC 21.37% +2.7%
  • Debt/Equity 0.72 +6.4%
  • Interest Coverage 10.29 -20.5%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 38.5%
  • ✓FCF machine: 16.6% free cash flow margin
  • ✓Healthy 5Y average net margin of 12.5%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.78%
5Y4.93%
3Y5.75%
TTM-1.11%

Profit (Net Income) CAGR

10Y7.08%
5Y12.7%
3Y34.3%
TTM3.73%

EPS CAGR

10Y10.13%
5Y16.19%
3Y39.64%
TTM-74.44%

ROCE

10Y Avg24.22%
5Y Avg20.55%
3Y Avg22.77%
Latest25.11%

Peer Comparison

Metal Treatment & Processing Chemicals
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Size & Scale
Valuation
Per Share
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
NTICNorthern Technologies International Corporation90.84M9.575316.67-0.97%-0.35%-0.4%0.17
WDFCWD-40 Company2.78B205.8130.764.98%14.42%33.9%3%0.36
KWRQuaker Chemical Corporation2.79B160.8024.70-5.82%-0.48%-0.66%7.74%0.54
NEUNewMarket Corporation6.11B650.0013.483.27%16.33%26.51%7.57%0.72
KOPKoppers Holdings Inc.573.51M29.2411.89-2.88%0.84%2.95%7.32%2.09
PRMPerimeter Solutions, S.A.4.34B29.33-724.2074.16%12.26%7.02%3.98%0.70

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+2.14B2.05B2.2B2.29B2.19B2.01B2.36B2.76B2.7B2.79B
Revenue Growth %-0.08%-0.04%0.07%0.04%-0.04%-0.08%0.17%0.17%-0.02%0.03%
Cost of Goods Sold+1.46B1.37B1.56B1.7B1.56B1.42B1.81B2.12B1.93B1.9B
COGS % of Revenue0.68%0.67%0.71%0.74%0.71%0.7%0.77%0.77%0.71%0.68%
Gross Profit+679.06M680.76M642.02M585.36M629.87M595.03M547.71M640.5M772.51M886.35M
Gross Margin %0.32%0.33%0.29%0.26%0.29%0.3%0.23%0.23%0.29%0.32%
Gross Profit Growth %0.02%0%-0.06%-0.09%0.08%-0.06%-0.08%0.17%0.21%0.15%
Operating Expenses+322.34M318.07M305.25M292.69M292.55M283.23M289.93M285.36M289.47M296.31M
OpEx % of Revenue0.15%0.16%0.14%0.13%0.13%0.14%0.12%0.1%0.11%0.11%
Selling, General & Admin164.08M161.11M165.06M152.4M148.08M142.86M145.97M145.11M151.47M171.41M
SG&A % of Revenue0.08%0.08%0.08%0.07%0.07%0.07%0.06%0.05%0.06%0.06%
Research & Development158.25M156.96M140.19M140.29M144.47M140.37M143.95M140.25M138M124.9M
R&D % of Revenue0.07%0.08%0.06%0.06%0.07%0.07%0.06%0.05%0.05%0.04%
Other Operating Expenses-3.1M-2.7M529K0000000
Operating Income+356.72M362.69M336.77M292.67M337.32M311.8M257.78M355.14M483.05M590.04M
Operating Margin %0.17%0.18%0.15%0.13%0.15%0.16%0.11%0.13%0.18%0.21%
Operating Income Growth %-0.02%0.02%-0.07%-0.13%0.15%-0.08%-0.17%0.38%0.36%0.22%
EBITDA+398.99M406.55M418.11M394.43M424.88M395.8M377.1M437.42M561.05M706.99M
EBITDA Margin %0.19%0.2%0.19%0.17%0.19%0.2%0.16%0.16%0.21%0.25%
EBITDA Growth %-0.01%0.02%0.03%-0.06%0.08%-0.07%-0.05%0.16%0.28%0.26%
D&A (Non-Cash Add-back)42.27M43.86M81.34M101.76M87.56M84M119.32M82.28M78.01M116.96M
EBIT353.62M359.99M337.3M317.01M360.83M357.62M281.77M382.94M526.32M641.47M
Net Interest Income+-14.65M-16.79M-21.86M-26.72M-29.24M-26.33M-34.22M-35.2M-37.36M-57.37M
Interest Income0000000000
Interest Expense14.65M16.79M21.86M26.72M29.24M26.33M34.22M35.2M37.36M57.37M
Other Income/Expense-17.75M-19.48M-21.33M-2.39M-5.73M19.48M-10.23M-7.41M5.92M-5.93M
Pretax Income+338.97M343.21M315.44M290.29M331.59M331.29M247.55M347.73M488.96M584.11M
Pretax Margin %0.16%0.17%0.14%0.13%0.15%0.16%0.11%0.13%0.18%0.21%
Income Tax+100.37M99.77M124.93M55.55M77.3M60.72M56.64M68.2M100.1M121.69M
Effective Tax Rate %0.7%0.71%0.6%0.81%0.77%0.82%0.77%0.8%0.8%0.79%
Net Income+238.6M243.44M190.51M234.73M254.29M270.57M190.91M279.54M388.86M462.41M
Net Margin %0.11%0.12%0.09%0.1%0.12%0.13%0.08%0.1%0.14%0.17%
Net Income Growth %0.02%0.02%-0.22%0.23%0.08%0.06%-0.29%0.46%0.39%0.19%
Net Income (Continuing)238.6M243.44M190.51M234.73M254.29M270.57M190.91M279.54M388.86M462.41M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+19.4520.5416.0820.3422.7724.6417.7127.7740.4448.22
EPS Growth %0.06%0.06%-0.22%0.26%0.12%0.08%-0.28%0.57%0.46%0.19%
EPS (Basic)19.4520.5416.0820.3922.7724.6417.7127.7740.4448.22
Diluted Shares Outstanding12.24M11.85M11.85M11.54M11.17M10.96M10.76M10.04M9.58M9.56M
Basic Shares Outstanding12.24M11.83M11.82M11.52M11.17M10.96M10.76M10.04M9.58M9.56M
Dividend Payout Ratio0.3%0.31%0.44%0.34%0.32%0.31%0.45%0.3%0.22%0.21%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+774.77M836.88M833.65M813.42M879.4M898.08M1.39B1.19B1.04B1.03B
Cash & Short-Term Investments93.42M192.15M84.17M73.04M144.4M125.17M459.22M68.71M111.94M77.48M
Cash Only93.42M192.15M84.17M73.04M144.4M125.17M83.3M68.71M111.94M77.48M
Short-Term Investments000000375.92M000
Accounts Receivable287.97M306.92M335.32M314.86M335.83M336.39M391.78M453.69M432.35M395.45M
Days Sales Outstanding49.154.6655.6750.1955.9661.0660.6959.958.4851.8
Inventory351.63M311.51M383.1M396.34M365.94M401.03M498.54M631.38M456.23M505.43M
Days Inventory Outstanding87.883.0789.8484.8885.6103.38100.62108.4886.4797.08
Other Current Assets23.06M22.35M24.21M22.75M27.48M30.65M15.11M31.41M12.79M21.2M
Total Non-Current Assets+515.15M579.55M878.5M883.85M1.01B1.04B1.17B1.21B1.27B2.1B
Property, Plant & Equipment402.45M503.75M652.28M644.14M708.78M737.25M784.76M722.41M760.34M839.76M
Fixed Asset Turnover5.32x4.07x3.37x3.55x3.09x2.73x3.00x3.83x3.55x3.32x
Goodwill4.66M4.29M122.54M122.94M122.99M123.96M123.92M123.66M123.74M379.59M
Intangible Assets6.25M6.14M21.8M13.1M8.89M5.99M3.83M2.41M901K370.83M
Long-Term Investments20.43M25.8M66.5M88.7M5.53M2.93M02.99M02.75M
Other Non-Current Assets43.01M10.51M11.04M9.88M153.22M157.68M252.43M359.64M381.59M504.99M
Total Assets+1.29B1.42B1.71B1.7B1.89B1.93B2.56B2.41B2.31B3.13B
Asset Turnover1.66x1.45x1.28x1.35x1.16x1.04x0.92x1.15x1.17x0.89x
Asset Growth %0.05%0.1%0.21%-0.01%0.11%0.03%0.32%-0.06%-0.04%0.36%
Total Current Liabilities+263.68M294.59M316.79M271.3M308.89M312.45M725.09M423.89M364.16M374.48M
Accounts Payable128.75M141.87M159.41M151.63M178.77M189.94M246.1M273.29M231.14M225.87M
Days Payables Outstanding32.1537.8337.3832.4741.8248.9649.6746.9643.8143.39
Short-Term Debt000017.05M15.55M349.43M000
Deferred Revenue (Current)0000000000
Other Current Liabilities91.6M102.13M104.79M82.42M68.63M69.07M43.26M48.44M51.86M44.34M
Current Ratio2.94x2.84x2.63x3.00x2.85x2.87x1.91x2.81x2.85x2.75x
Quick Ratio1.60x1.78x1.42x1.54x1.66x1.59x1.23x1.32x1.60x1.40x
Cash Conversion Cycle104.7599.9108.13102.699.74115.48111.64121.42101.14105.5
Total Non-Current Liabilities+638.67M638.6M793.71M936.07M893.14M861.6M1.07B1.22B867.65M1.29B
Long-Term Debt494.59M507.27M602.9M771M642.94M598.85M789.85M1B643.62M971.28M
Capital Lease Obligations04.77M5.81M5.19M57.91M58.4M77.64M69.4M74.9M72.43M
Deferred Tax Liabilities9.66M9.23M35.3M43.07M57.2M60.04M89.44M61.99M58.66M162.91M
Other Non-Current Liabilities134.43M117.32M149.7M116.8M135.09M144.31M114.29M85.39M90.47M86.86M
Total Liabilities902.35M933.18M1.11B1.21B1.2B1.17B1.8B1.64B1.23B1.67B
Total Debt+494.59M507.27M602.9M771M717.91M672.8M1.23B1.09B733.6M1.06B
Net Debt401.16M315.12M518.73M697.96M573.51M547.63M1.15B1.02B621.66M981.57M
Debt / Equity1.28x1.05x1.00x1.57x1.05x0.89x1.62x1.43x0.68x0.72x
Debt / EBITDA1.24x1.25x1.44x1.95x1.69x1.70x3.27x2.49x1.31x1.50x
Net Debt / EBITDA1.01x0.78x1.24x1.77x1.35x1.38x3.05x2.33x1.11x1.39x
Interest Coverage24.35x21.61x15.41x10.95x11.54x11.84x7.53x10.09x12.93x10.29x
Total Equity+387.56M483.25M601.65M489.91M683.1M759.82M762.13M762.41M1.08B1.46B
Equity Growth %-0.08%0.25%0.25%-0.19%0.39%0.11%0%0%0.41%0.36%
Book Value per Share31.6640.7750.7842.4561.1869.3270.8675.97112.39152.87
Total Shareholders' Equity387.56M483.25M601.65M489.91M683.1M759.82M762.13M762.41M1.08B1.46B
Common Stock01.6M001.97M717K002.13M0
Retained Earnings532.09M664.16M747.64M671.22M843.88M932.27M844.36M834.4M1.1B1.43B
Treasury Stock0000000000
Accumulated OCI-144.53M-182.51M-145.99M-181.32M-162.75M-173.16M-82.23M-72M-21.07M32.87M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+268.03M353.43M242.79M197.91M337.21M284.15M165.34M108.62M576.82M519.59M
Operating CF Margin %0.13%0.17%0.11%0.09%0.15%0.14%0.07%0.04%0.21%0.19%
Operating CF Growth %0.14%0.32%-0.31%-0.18%0.7%-0.16%-0.42%-0.34%4.31%-0.1%
Net Income238.6M243.44M190.51M234.73M254.29M270.57M190.91M279.54M388.86M462.41M
Depreciation & Amortization42.27M44.89M55.34M71.76M87.56M84M84.32M82.28M78.01M116.96M
Stock-Based Compensation0000000000
Deferred Taxes150K19.18M58.75M14.53M7.38M7.55M1.98M-42.65M-14.75M-12.8M
Other Non-Cash Items10.27M25.1M-25.48M-68.7M-16.78M-23.88M4.49M-5.92M-9.58M-23.65M
Working Capital Changes-15.02M22.82M-36.33M-54.41M4.76M-54.09M-116.36M-204.64M134.28M-23.33M
Change in Receivables7.21M-38.23M250K14.1M-22.59M2.59M-53.99M-73.09M31.59M36.15M
Change in Inventory-21.75M14.48M-44.94M-29.67M31.88M-33.11M-96.2M-166.56M192.47M-36.54M
Change in Payables-8.81M18.45M17.95M-19.64M8.86M7.08M60.41M35.53M-59.18M-7.64M
Cash from Investing+-126.5M-142.87M-332.64M-74.64M-59.43M-74.24M-461.41M315.89M-48.29M-738.8M
Capital Expenditures-126.5M-142.87M-148.71M-74.64M-59.43M-93.32M-78.93M-56.17M-48.29M-57.32M
CapEx % of Revenue0.06%0.07%0.07%0.03%0.03%0.05%0.03%0.02%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing-4.88M-4.75M-2M14.61M019.07M0000
Cash from Financing+-135.48M-103.38M-18.98M-145.43M-208.08M-231.46M255.13M-439.36M-487.59M185.81M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-70.76M-75.83M-82.89M-80.45M-81.68M-83.42M-85.91M-84.26M-85.03M-95.9M
Share Repurchases----------
Other Financing-791K-2.73M-4.09M-1.09M-2.95M-1.93M-5.79M-3.52M1.3M-11.13M
Net Change in Cash----------
Free Cash Flow+141.53M210.56M94.08M123.27M277.78M190.84M86.4M52.45M528.53M462.27M
FCF Margin %0.07%0.1%0.04%0.05%0.13%0.09%0.04%0.02%0.2%0.17%
FCF Growth %-0.19%0.49%-0.55%0.31%1.25%-0.31%-0.55%-0.39%9.08%-0.13%
FCF per Share11.5617.777.9410.6824.8817.418.035.2355.1548.35
FCF Conversion (FCF/Net Income)1.12x1.45x1.27x0.84x1.33x1.05x0.87x0.39x1.48x1.12x
Interest Paid16.19M18.77M20.38M28.91M28.52M26.15M30.46M40.53M36.64M55.91M
Taxes Paid99.01M61M59.01M76.86M64.9M62.33M67.92M88.87M132.93M119.53M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)59.02%55.91%35.12%43.01%43.36%37.5%25.09%36.67%42.28%36.43%
Return on Invested Capital (ROIC)36.39%34.28%26.33%19.02%20.7%18.24%12.01%14.42%20.81%21.37%
Gross Margin31.72%33.22%29.2%25.57%28.76%29.59%23.25%23.17%28.63%31.81%
Net Margin11.15%11.88%8.67%10.25%11.61%13.45%8.1%10.11%14.41%16.59%
Debt / Equity1.28x1.05x1.00x1.57x1.05x0.89x1.62x1.43x0.68x0.72x
Interest Coverage24.35x21.61x15.41x10.95x11.54x11.84x7.53x10.09x12.93x10.29x
FCF Conversion1.12x1.45x1.27x0.84x1.33x1.05x0.87x0.39x1.48x1.12x
Revenue Growth-8.33%-4.27%7.27%4.15%-4.34%-8.19%17.17%17.35%-2.4%3.27%

Revenue by Segment

2015201620172018201920202021202220232024
Petroleum Additives---2.28B2.18B2B2.34B2.75B2.69B2.64B
Petroleum Additives Growth-----4.60%-8.01%17.11%17.51%-2.35%-1.99%
Specialty Materials---------141.24M
Specialty Materials Growth----------
Other Operating---------9.07M
Other Operating Growth----------
Others15.84M14.81M11.12M8.87M14.39M9.36M12.17M10.49M8.71M-
Others Growth--6.50%-24.89%-20.22%62.21%-34.93%29.94%-13.80%-16.96%-

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES775.59M701.21M696.14M722.58M728.13M650.65M780.28M974.96M972.95M1.1B
UNITED STATES Growth--9.59%-0.72%3.80%0.77%-10.64%19.92%24.95%-0.21%12.63%
Europe, Middle East, Africa, India669.2M653.34M742.34M756.26M700.08M651.64M708.67M807.78M791.74M786.76M
Europe, Middle East, Africa, India Growth--2.37%13.62%1.88%-7.43%-6.92%8.75%13.98%-1.99%-0.63%
Asia Pacific436.4M470.62M-------573.31M
Asia Pacific Growth-7.84%--------
Other Foreign259.64M224.28M242.38M236.32M225.12M215M286.32M365.09M350.75M330.6M
Other Foreign Growth--13.62%8.07%-2.50%-4.74%-4.50%33.17%27.51%-3.93%-5.74%
AsiaPacficexclChina--293.14M335.12M311.47M279.85M325.62M435.68M396.79M-
AsiaPacficexclChina Growth---14.32%-7.06%-10.15%16.36%33.80%-8.93%-
CHINA--224.41M239.41M225.5M213.79M255.22M181.28M186.18M-
CHINA Growth---6.68%-5.81%-5.19%19.38%-28.97%2.70%-

Frequently Asked Questions

Valuation & Price

NewMarket Corporation (NEU) has a price-to-earnings (P/E) ratio of 13.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

NewMarket Corporation (NEU) reported $2.74B in revenue for fiscal year 2024. This represents a 28% increase from $2.15B in 2011.

NewMarket Corporation (NEU) grew revenue by 3.3% over the past year. Growth has been modest.

Yes, NewMarket Corporation (NEU) is profitable, generating $448.2M in net income for fiscal year 2024 (16.6% net margin).

Dividend & Returns

Yes, NewMarket Corporation (NEU) pays a dividend with a yield of 1.54%. This makes it attractive for income-focused investors.

NewMarket Corporation (NEU) has a return on equity (ROE) of 36.4%. This is excellent, indicating efficient use of shareholder capital.

NewMarket Corporation (NEU) generated $544.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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