Newmarket vs Stepan
Newmarket is the larger business, with $2.73bn of revenue in fiscal 2025 against $2.33bn for Stepan (1.2 times as much). Stepan grew faster (7.0% against -2.2%). Newmarket kept more of each dollar of sales as profit: a net margin of 15.4% against 2.0%. Newmarket carries less debt relative to equity (49.7% against 50.4%).
| Latest fiscal year | NewmarketNEU, 2025 | StepanSCL, 2025 |
|---|---|---|
| Revenue | $2.73bn | $2.33bn |
| Revenue growth | -2.2% | 7.0% |
| Net income | $419m | $46.9m |
| Operating margin | 20.0% | 3.4% |
| Net margin | 15.4% | 2.0% |
| Return on equity | 25.9% | 3.9% |
| Free cash flow | $491m | $25.4m |
| Cash | $77.6m | $133m |
| Total debt | $883m | $627m |
| Debt to equity | 49.7% | 50.4% |
| Dividend per share | $11.25 | $1.55 |
| Dividend yield | 1.6% | 2.2% |
| Share buybacks | $77.2m | — |
| Employees | 2,050 | — |
| Market value | $6.96bn | $1.60bn |
| Price vs our value range | Within our value range | — |
| Moat score | 79 (Strong) | 47 (Moderate) |
| Insider trades, 12 months | 1 buys, 0 sales | 0 buys, 0 sales |