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Newmarket Corp (NEU) stock

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NYSE: NEU NYSE Specialty Chemicals Next results ~February 10, 2027

B+ Fundamentals grade

Newmarket Corp is a US-listed company in the specialty chemicals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$790

Cash-flow model

Base case. Range ~$570–$1100 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 4% below our base value.

Price used: $756.63, November 2, 2026

Newmarket Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 0 selling1 purchase and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds212 adding, 183 cuttingOf 47 active managers that changed their stake, 16 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Newmarket files

10-Q filed October 29: Newmarket

Model value −6.2%

Newmarket Corp's revenue reached $2.77bn in the twelve months to September 2026, a rise of 0.9% on the year, an improvement on the 1.3% decline recorded a quarter earlier. Free-cash-flow margin, however, slipped to 13.8%, down from 19.3% a year ago. Our model value has eased from $847 to $795 a share, now sitting just above the current share price of $784. The rating remains Hold. At that price, the market appears to be pricing in cash-flow growth of around 1.8% a year over five years, a figure not far from the 3.3% a year revenue growth the company has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 30: Newmarket

Newmarket Corp's revenue for the twelve months to June 2026 reached $2.77bn, up 0.9% on a year earlier and a reversal from the 1.3% decline recorded a quarter earlier. Free-cash-flow margin, however, fell to 13.8% from 19.3% a year ago. Despite that, the fundamentals grade improved from C+ to B+. Our model value sits at $847 a share, little changed, while the stock trades at $873. We maintain the Hold rating. At the current price, the market appears to be pricing in cash-flow growth of about 2.5% a year over five years, broadly in line with the 3.3% a year revenue growth the company has actually delivered.

10-Q on SEC EDGAR

Where Newmarket stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.74bn, down 1.3% on a year earlier, faster than -3.5% a quarter earlier. That puts it 860 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to 16.9% from 18.6% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $790 a share, against a share price of $880. At that price, our model says the market is pricing in about 3.7% a year of cash-flow growth for five years, close to the 3.1% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 10, 2027 (estimated)

Newmarket Corp's trailing-twelve-month revenue grew 0.9% year on year, with a free-cash-flow margin of 13.8%. Where it stands out: net margin of 16.5% ranks 1 of 42 specialty chemicals companies we cover.

Our discounted-cash-flow model values the business at ~$790 per share in the base case (~$570–$1100 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 27.6% while net income grew 2.0%: a 30pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.9% in a year, so each share owns more of the business.

Things to watch

  • Weakest spot: revenue growth. Revenue growth of 0.9% ranks 29 of 42 specialty chemicals companies we cover (median 6.0%).

Latest results: FY2026 Q3

Filed October 29, 2026
Revenue
$717m, up 3.8% on a year earlier
Share reaction
-8.3% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Next report
October 28, 2026

Newmarket's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.4%
  • 1 week-13.8%
  • 1 month-18.1%
  • This year+11.4%
  • 1 year+0.1%
  • 5 years+147.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.8B
Operating margin
20.2%
Net margin
16.5%
EPS (TTM, diluted)
$49.43

Growth

Revenue growth
+0.9%
Change in growth rate
+2.2 pts
Share count change
−1.9%

Cash

Free cash flow (TTM)
$383M
FCF margin
13.8%
Stock pay % of revenue
0.1%

Earnings

Last results
October 28, 2026
Next results (est.)
February 10, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Dividend
  2. Results
  3. Announcement
  4. Results
  5. Dividend
  6. Announcement
  7. Results
  8. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Newmarket Corp valuation models and calculator

What the price is pricing in

The share price implies about 1.4% a year of cash-flow growth for five years.That is close to the 3.3% a year revenue growth Newmarket has delivered.

  • Priced in1.4%
  • Last 12 months0.9%
  • 3 years a year0.4%
  • 5 years a year3.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($760.41, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$790
Price used
$760.41close November 3, 2026
Implied change
▲ +4%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Newmarket Corp's free cash flow after stock-based pay with after-tax interest added back ($484M, FY2026 Q3 TTM), growing 2% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$570–~$1100 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Newmarket Corp's free cash flow after stock-based pay ( $484M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Newmarket Corp as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.83 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$790 ~$570–$1100 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$980 ~$990–$1600 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1500 ~$1100–$2100 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$1100 ~$970–$1400 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1000 ~$790–$1500 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Newmarket Corp with Specialty Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −28%
  • Revenue growth 5 points higher ▲ +37%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Last year's free-cash-flow margin change, if it persists ▼ −29%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $678$949$1309$1783$2401$3200
8.5% $499$696$955$1295$1735$2303
10% $392$544$744$1003$1339$1769

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$310.30$350.92$334.48$352.96$423.60$353.81$311.61$290.74$520.85$513.28$678.95$756.63
Market value$3.8bn$4.2bn$4.0bn$4.1bn$4.7bn$3.9bn$3.4bn$2.9bn$5.0bn$4.9bn$6.4bn$7.0bn
+ Net debt (− = net cash)$401m$315m$519m$698m$499m$474m$1.1bn$935m$532m$894m$806m$753m
Enterprise value$4.2bn$4.5bn$4.5bn$4.8bn$5.2bn$4.4bn$4.4bn$3.9bn$5.5bn$5.8bn$7.2bn$7.8bn
Multiples
Price / sales 1.8x2.0x1.8x1.8x2.2x1.9x1.4x1.1x1.8x1.8x2.3x2.5x
Price / earnings 15.9x17.1x20.8x17.3x18.6x14.3x17.6x10.4x12.8x10.6x15.2x15.3x
Price / free cash flow 26.8x19.7x42.0x33.0x17.0x20.3x38.8x55.6x9.4x10.6x13.0x18.3x
EV / EBITDA 10.5x11.2x11.8x13.1x12.3x11.0x12.9x8.8x9.8x8.2x10.8x11.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

79 /100

Strong moat

How hard Newmarket's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 22.2% of total assets over 10 years.

  • Pricing power 10 / 20

    Gross margin has been a median 28.9%, moving by 3.1 percentage points (standard deviation) across 10 years.

  • Durability 14 / 20

    Operating margin has been a median 15.4%; its worst year was 10.6%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 9 of 10 years, at a median 12.1% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 15.0% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Newmarket Corp: too few analysts cover it.

Management guidance

Earnings release, July 29, 2026

No numeric guidance in Newmarket Corp's latest earnings release (filed July 29, 2026). Some companies give their outlook only on the earnings call.

Positioning

Short interest
7.3%
of tradable shares
Days to cover
4.32
at average volume
Short interest, 1 month
−3%
to October 15, 2026
Held by institutions
68%
of shares
Held by insiders
19.2%
of shares
Employees
2,050
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +0.1%

$755.59 on October 31, 2025 to $756.63

ThenNowEffect
Revenue (last 12 months) $2.8bn $2.7bn −1.3%
Net margin 17.3% 15.8% −8.6%
P/E multiple 14.9x 16.2x +8.9%
Share count 9m 9m +1.9%

Biggest factor: net margin.

Last 3 years +62.3%

$466.06 on November 3, 2023 to $756.63

ThenNowEffect
Revenue (last 12 months) $2.8bn $2.7bn −0.9%
Net margin 12.7% 15.8% +24.6%
P/E multiple 12.9x 16.2x +25.6%
Share count 10m 9m +4.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NEU−12%−7%+79%−2%+32%+11%
Industry peers (median)+19%−26%−9%+7%−15%+5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NEU33%58%75%50%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NEU−29%−20%−8%−21%−21%−21%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 41% from November 14, 2019 to September 2, 2022. Getting back needed a 69% gain, reached on August 8, 2023, 340 days after the low.

Price behaviour

52-week range
$577.59 – $958.64
From 52-week high
−21.1%
vs 50-day average
−14.8%
vs 200-day average
−0.3%
Volatility (1 year)
32%
Beta vs S&P 500
0.73

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±6.1%
After a week
8 up, 3 down
typical move ±6.8%
After a month
8 up, 3 down
typical move ±11.1%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 −8.3% 0.0% — —
July 29, 2026 +10.7% +0.1% +12.6% +18.0%
April 22, 2026 +6.4% +0.6% +4.2% +12.2%
February 11, 2026 −17.0% −1.6% −15.6% −18.7%
October 30, 2025 +3.4% −0.8% +2.8% +2.1%
July 30, 2025 −0.1% −0.5% +5.0% +19.9%
April 23, 2025 +6.6% +3.7% +8.1% +13.7%
February 3, 2025 +2.2% 0.0% +5.7% +12.0%
October 23, 2024 +4.0% −0.7% +2.3% +3.2%
July 29, 2024 +0.8% −0.4% −5.0% −1.3%
April 24, 2024 −9.0% −0.4% −9.6% −7.6%
January 31, 2024 +5.0% −0.3% +4.0% +13.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Newmarket Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: no liquid put with an effective price at or below fair value.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Newmarket Corp in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Newmarket Corp
$2.7B $2.7B $2.8B $2.8B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $2.7B Revenue (TTM), FY24 Q1: $2.7B Revenue (TTM), FY24 Q2: $2.7B Revenue (TTM), FY24 Q3: $2.8B Revenue (TTM), FY24 Q4: $2.8B Revenue (TTM), FY25 Q1: $2.8B Revenue (TTM), FY25 Q2: $2.8B Revenue (TTM), FY25 Q3: $2.7B Revenue (TTM), FY25 Q4: $2.7B Revenue (TTM), FY26 Q1: $2.7B Revenue (TTM), FY26 Q2: $2.7B Revenue (TTM), FY26 Q3: $2.8B $2.8B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $2.7B
FY24 Q1 $2.7B
FY24 Q2 $2.7B
FY24 Q3 $2.8B
FY24 Q4 $2.8B
FY25 Q1 $2.8B
FY25 Q2 $2.8B
FY25 Q3 $2.7B
FY25 Q4 $2.7B
FY26 Q1 $2.7B
FY26 Q2 $2.7B
FY26 Q3 $2.8B
Revenue growth, TTM YoY Newmarket Corp
-6% -4% -2% 0% 2% 4% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -2.4% Revenue growth, TTM YoY, FY24 Q1: -4.0% Revenue growth, TTM YoY, FY24 Q2: -1.8% Revenue growth, TTM YoY, FY24 Q3: 1.4% Revenue growth, TTM YoY, FY24 Q4: 3.3% Revenue growth, TTM YoY, FY25 Q1: 3.7% Revenue growth, TTM YoY, FY25 Q2: 2.3% Revenue growth, TTM YoY, FY25 Q3: -1.1% Revenue growth, TTM YoY, FY25 Q4: -2.2% Revenue growth, TTM YoY, FY26 Q1: -3.5% Revenue growth, TTM YoY, FY26 Q2: -1.3% Revenue growth, TTM YoY, FY26 Q3: 0.9% 0.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -2.4%
FY24 Q1 -4.0%
FY24 Q2 -1.8%
FY24 Q3 1.4%
FY24 Q4 3.3%
FY25 Q1 3.7%
FY25 Q2 2.3%
FY25 Q3 -1.1%
FY25 Q4 -2.2%
FY26 Q1 -3.5%
FY26 Q2 -1.3%
FY26 Q3 0.9%
Operating margin (TTM) Newmarket Corp
17% 18% 19% 20% 21% 22% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 17.9% Operating margin (TTM), FY24 Q1: 18.5% Operating margin (TTM), FY24 Q2: 19.2% Operating margin (TTM), FY24 Q3: 20.1% Operating margin (TTM), FY24 Q4: 21.2% Operating margin (TTM), FY25 Q1: 21.8% Operating margin (TTM), FY25 Q2: 21.8% Operating margin (TTM), FY25 Q3: 20.6% Operating margin (TTM), FY25 Q4: 20.0% Operating margin (TTM), FY26 Q1: 19.6% Operating margin (TTM), FY26 Q2: 20.0% Operating margin (TTM), FY26 Q3: 20.2% 20.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 17.9%
FY24 Q1 18.5%
FY24 Q2 19.2%
FY24 Q3 20.1%
FY24 Q4 21.2%
FY25 Q1 21.8%
FY25 Q2 21.8%
FY25 Q3 20.6%
FY25 Q4 20.0%
FY26 Q1 19.6%
FY26 Q2 20.0%
FY26 Q3 20.2%
FCF margin (TTM) Newmarket Corp
12% 14% 16% 18% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 19.6% FCF margin (TTM), FY24 Q1: 19.3% FCF margin (TTM), FY24 Q2: 17.6% FCF margin (TTM), FY24 Q3: 16.0% FCF margin (TTM), FY24 Q4: 16.3% FCF margin (TTM), FY25 Q1: 17.0% FCF margin (TTM), FY25 Q2: 18.6% FCF margin (TTM), FY25 Q3: 19.3% FCF margin (TTM), FY25 Q4: 17.5% FCF margin (TTM), FY26 Q1: 17.4% FCF margin (TTM), FY26 Q2: 16.9% FCF margin (TTM), FY26 Q3: 13.8% 13.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 19.6%
FY24 Q1 19.3%
FY24 Q2 17.6%
FY24 Q3 16.0%
FY24 Q4 16.3%
FY25 Q1 17.0%
FY25 Q2 18.6%
FY25 Q3 19.3%
FY25 Q4 17.5%
FY26 Q1 17.4%
FY26 Q2 16.9%
FY26 Q3 13.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Newmarket took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $2.7B
  2. Other income $16.8M · 0.6%
  3. Cost of revenue $1.9B · 68.5%
  4. Gross profit $857M · 31.5%
  5. Research and development $132M · 4.8%
  6. Selling, general and admin $182M · 6.7%
  7. Operating income $544M · 20.0%
  8. Income tax $142M · 5.2%
  9. Net income $419M · 15.4%

Shares of revenue. Source: Newmarket's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 1,530 1,797 2,138 2,212 2,280 2,335 2,141 2,049 2,198 2,290 2,190 2,011 2,356 2,765 2,698 2,787 2,725 2,769
Gross profit 463 515 552 630 653 665 679 677 636 585 630 595 548 640 773 886 857 876
EBITDA 295 326 377 402 398 404 399 400 378 364 425 396 342 437 561 707 666 687
Operating income 262 287 334 358 352 363 357 355 323 293 337 312 258 355 483 590 544 560
Net income 162 177 207 240 265 233 239 243 191 235 254 271 191 280 389 462 419 457
Diluted EPS $10.65 $12.09 $15.09 $17.85 $19.90 $18.38 $19.45 $20.54 $16.08 $20.34 $22.73 $24.64 $17.71 $27.77 $40.44 $48.22 $44.44 $49.43
Growth (year on year)
Revenue −5.4% +17.5% +19.0% +3.4% +3.1% +2.4% −8.3% −4.3% +7.3% +4.2% −4.3% −8.2% +17.2% +17.3% −2.4% +3.3% −2.2% +0.9%
EBITDA +104.5% +10.6% +15.5% +6.6% −1.0% +1.6% −1.3% +0.2% −5.4% −3.6% +16.6% −6.8% −13.6% +27.9% +28.3% +26.0% −5.8% −0.3%
Operating income +125.4% +9.5% +16.1% +7.5% −1.8% +3.1% −1.7% −0.5% −9.0% −9.3% +15.3% −7.6% −17.3% +37.8% +36.0% +22.1% −7.8% −1.2%
Net income +121.6% +9.1% +16.8% +15.8% +10.5% −11.9% +2.3% +2.0% −21.7% +23.2% +8.3% +6.4% −29.4% +46.4% +39.1% +18.9% −9.4% +2.0%
Diluted EPS +124.2% +13.5% +24.8% +18.3% +11.5% −7.6% +5.8% +5.6% −21.7% +26.5% +11.8% +8.4% −28.1% +56.8% +45.6% +19.2% −7.8% +4.0%
Margins
Gross margin 30.3% 28.7% 25.8% 28.5% 28.6% 28.5% 31.7% 33.0% 28.9% 25.6% 28.8% 29.6% 23.2% 23.2% 28.6% 31.8% 31.5% 31.7%
EBITDA margin 19.3% 18.2% 17.6% 18.2% 17.5% 17.3% 18.6% 19.5% 17.2% 15.9% 19.4% 19.7% 14.5% 15.8% 20.8% 25.4% 24.4% 24.8%
Operating margin 17.1% 16.0% 15.6% 16.2% 15.4% 15.5% 16.7% 17.3% 14.7% 12.8% 15.4% 15.5% 10.9% 12.8% 17.9% 21.2% 20.0% 20.2%
Net margin 10.6% 9.9% 9.7% 10.8% 11.6% 10.0% 11.1% 11.9% 8.7% 10.3% 11.6% 13.5% 8.1% 10.1% 14.4% 16.6% 15.4% 16.5%
Free-cash-flow margin 8.9% 7.1% 6.1% 10.6% 9.6% 7.5% 6.6% 10.3% 4.3% 5.4% 12.7% 9.5% 3.7% 1.9% 19.6% 16.6% 18.0% 13.8%
Cash flow
Cash from operations 226 164 185 273 278 235 268 353 243 198 337 284 165 109 577 520 569 500
Capital spending 89 36 54 39 58 60 126 143 149 75 59 93 79 56 48 57 78 116
Free cash flow 137 128 131 234 219 175 142 211 94 123 278 191 86 52 529 462 491 383
Stock-based pay — 3 3 0 1 2 3 3 3 2 2 2 3 2 4 3 3 4
Free cash flow after stock pay — 125 128 234 218 173 139 208 91 121 275 189 84 50 525 459 488 380
Balance sheet
Cash 152 49 50 89 239 103 93 192 84 73 144 125 83 69 112 77 78 77
Total debt 250 222 244 429 349 364 495 507 603 771 643 599 1,139 1,004 644 971 883 830
Net debt (negative = net cash) 98 173 193 340 111 261 401 315 519 698 499 474 1,056 935 532 894 806 753
Diluted shares 15m 15m 14m 13m 13m 13m 12m 12m 12m 12m 11m 11m 11m 10m 10m 10m 9m 9m
Returned to shareholders
Dividends 16 23 33 376 50 59 71 76 83 80 82 83 86 84 85 96 106 111
Buybacks 0 122 98 0 92 249 195 36 26 232 0 101 196 207 43 32 77 126
Total returned 16 144 131 376 143 308 266 112 109 312 82 185 282 292 128 128 183 238

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · September 30, 2026
What it owns · $3.6bn
Short-term assets $1.2bnLonger-term assets $2.5bn
What it owes, and who funded it · $3.6bn
Short-term liabilities $471mLonger-term liabilities $1.2bnShareholders' equity $1.9bn
  • Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $471m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.2bn short-term assets against $1.2bn of longer-dated liabilities.
  • More cash than debt $77m of cash against $830m of debt.
  • Debt below 40% of shareholders' equity Debt is 43% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 111% to 43% over five years.
  • A year's operating cash flow covers at least 20% of debt $500m of operating cash flow against $830m of debt.
  • Operating profit covers interest at least five times over Operating income of $560m against $35m of interest.

From Newmarket Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$126M
Dividends (TTM)
$111M
Returned to shareholders
62%
of free cash flow
Buybacks, last 3 fiscal years
$152M
Diluted share count
−1.9%
year over year
Total shareholder yield
3.4%
dividends 1.6% + buybacks 1.8% of market value
Dividend payout ratio
24%
of net income paid out
R&D spending
4.5%
of revenue
Sales & admin spending
7.0%
of revenue

Competitors: side by side with peers

Closest by revenue in specialty chemicals
Last 12 months unless stated NEU SCL AVNT ESI MTX FUL Median
Revenue, last 12 months $2.8bn $2.4bn $3.3bn $3.5bn $2.2bn $3.6bn $906m
Revenue growth, last 12 months 0.9% 7.6% 2.4% 39.6% 4.8% 1.5% 5.4%
Revenue growth, 3-year average 0.4% −1.9% 0.5% 14.4% 0.3% −0.1% 0.9%
Revenue growth, latest quarter 3.8% 15.0% 5.8% 51.7% 4.2% 5.2% 8.3%
Gross margin 31.7% 11.8% 31.7% 36.6% 23.9% 32.3% 28.8%
Operating margin 20.2% 0.8% 9.5% 11.7% −1.6% 9.5% 4.3%
Operating margin, 3-year average 20.3% 2.3% 8.4% 13.0% 4.8% 9.9% 5.5%
Net margin 16.5% −0.1% 5.1% 5.9% −3.1% 5.6% 0.8%
Cash from operations / revenue 18.1% 6.4% 9.0% 8.1% 10.8% 8.1% 6.9%
Free-cash-flow margin 13.8% 1.5% 5.7% 5.2% 5.9% 2.8% 4.3%
Free-cash-flow margin, 3-year average 16.4% 1.1% 5.1% 9.1% 6.3% 4.5% 5.1%
Stock pay / revenue 0.1% 0.3% 0.3% 2.2% — 0.7% 1.0%
Change in share count −1.9% −0.0% 0.2% 0.4% −2.2% −0.9% 0.1%

Median of all 42 companies we cover in specialty chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

42 specialty chemicals companies
Measure Company Peer median Rank
Revenue growth Growth 0.9% 6.0% 29 of 42
Change in growth rate Growth +2.2pp +1.3pp 15 of 42
Gross margin Profitability 31.7% 31.5% 19 of 40
Operating margin Profitability 20.2% 3.8% 2 of 39
Net margin Profitability 16.5% 1.7% 1 of 42
Free-cash-flow margin Cash generation 13.8% 4.8% 3 of 42
Stock pay as % of revenue Cash generation 0.1% 1.0% 1 of 36
Long-term debt as % of assets Balance sheet 22.8% 26.8% 17 of 36
Change in share count Balance sheet -1.9% 0.0% 8 of 37

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $1.1B 39.2% ▼ 2.6%
Europe Middle East Africa India $819M 30.0% ▲ 4.1%
Asia Pacific $518M 19.0% ▼ 9.6%
Other Foreign $321M 11.8% ▼ 3.0%

From Newmarket Corp's 10-K filed February 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.8B
Institutions reporting
422
Shares held vs prior quarter
▲ 3.3%
Positions opened / closed
84 / 44

Top buyers and sellers, Q2 2026: 212 institutions bought and 183 sold ; the biggest buyer was AQR Capital Management LLC (+152K shares) and the biggest seller Millennium Management LLC (−54K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $556M 703K 11.7% ▼ 1.9%
London Co Of Virginia $387M 488K 8.1% ▲ 6.0%
Vanguard Portfolio Management LLC $329M 416K 6.9% ▼ 7.6%
Vanguard Capital Management LLC $276M 349K 5.8% ▼ 1.5%
Boston Partners $256M 324K 5.4% ▲ 29.0%
AQR Capital Management LLC $214M 270K 4.5% ▲ 128.2%
LSV Asset Management $188M 238K 4.0% ▼ 10.7%
State Street Corp $186M 234K 3.9% ▲ 0.2%
American Century Companies Inc $166M 209K 3.5% ▲ 24.2%
Dimensional Fund Advisors LP $163M 206K 3.4% ▲ 5.7%
Geode Capital Management, LLC $151M 191K 3.2% ▲ 3.4%
Gotham Asset Management, LLC $104M 131K 2.2% ▲ 247.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Newmarket Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $247,684 1 trade by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $247,684 net buying
Insider Date Trade Shares Price Value
Xu Ting Director February 24, 2026 Buy 400 $619.21 $247,684

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 6 trades and filings

No trades in Newmarket Corp disclosed in the last 12 months; 6 earlier trades on record.

  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded August 6, 2019, filed September 16, 2019
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded August 5, 2019, filed September 16, 2019
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded April 1, 2019, filed May 20, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 10, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • April 22, 2026
  • February 11, 2026
  • October 30, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Newmarket Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Newmarket Corp in brief

What does Newmarket Corp do?
Newmarket Corp is a US-listed company in the specialty chemicals industry. Its financial year ends in December.
What is Newmarket Corp's stock ticker?
Newmarket Corp trades under the ticker NEU on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Newmarket Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Newmarket Corp reported revenue of $2.8B, 0.9% higher than a year earlier, according to its SEC filings.
What is Newmarket Corp's free cash flow?
Newmarket Corp's free-cash-flow margin is 13.8% of revenue over the trailing twelve months, ranking 3 of the 42 specialty chemicals companies we cover.
What is Newmarket Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Newmarket Corp's free cash flow after stock-based pay gives ~$790 per share in the base case, and ~$570–$1100 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Newmarket Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., London Co Of Virginia and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Newmarket Corp buying back stock, and does it pay a dividend?
Newmarket Corp spent $126M on share repurchases over the trailing twelve months, and its diluted share count fell 1.9% over the year.
What is Newmarket Corp's market cap?
On November 2, 2026, Newmarket Corp's market capitalisation was about $7B, with a price-to-earnings ratio of 15.3 and net debt of $753M. Market figures come from third-party market data and may be delayed.
Does Newmarket Corp pay a dividend?
Yes: Newmarket Corp paid $111M in dividends over the trailing twelve months, a dividend yield of 1.60% and a payout ratio of 24.4%.
How much debt does Newmarket Corp have?
Newmarket Corp's debt-to-equity ratio is 43.0%, from its latest balance sheet (110.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are Newmarket Corp's competitors?
In our Specialty Chemicals peer group, the companies closest to Newmarket Corp are Stepan Co, Avient Corp, Element Solutions Inc, Minerals Technologies Inc and Fuller H B Co. The side-by-side comparison below sets their revenue, margins and growth against Newmarket Corp's.
Are insiders buying or selling Newmarket Corp stock?
Over the last 12 months, Newmarket Corp's directors and officers reported 1 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Newmarket Corp's next earnings date?
Around February 10, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Newmarket Corp announces its own schedule.