undamentalytics Newsletter
Sign in

Newmarket Corp key statistics and ratios

In fiscal 2025, Newmarket Corp had return on equity of 25.9%, an operating margin of 20.0%, debt equal to 49.7% of equity and a current ratio of 2.53. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin30.3%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%
Operating margin17.1%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 margin10.6%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 margin8.9%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%
Return on equity35.4%37.3%39.7%50.3%54.3%47.0%59.0%55.9%35.1%43.0%43.4%37.5%25.1%36.7%42.3%36.4%25.9%24.7%
Return on assets15.8%17.0%18.4%19.5%20.4%18.2%19.0%18.0%12.2%13.8%14.2%14.2%8.5%11.3%16.5%17.0%12.6%12.8%
Asset turnover1.491.721.901.801.761.831.701.521.411.341.221.051.051.111.141.020.820.78
Current ratio3.052.923.153.393.623.072.912.842.633.002.852.871.912.812.852.752.532.46
Debt to equity54.6%45.1%44.3%106.6%61.0%86.3%127.6%105.0%100.2%157.4%94.1%78.8%149.5%131.7%59.8%66.5%49.7%43.0%
Interest cover (operating income ÷ interest)22.4x16.6x23.6x42.5x19.8x21.9x24.3x21.1x14.8x11.0x11.5x11.8x7.5x10.1x12.9x10.3x13.7x15.8x
Effective tax rate32.2%31.9%31.8%29.7%29.0%31.2%29.6%29.1%39.6%19.1%23.3%18.3%22.9%19.6%20.5%20.8%25.3%22.0%
R&D as % of revenue5.6%5.1%2.4%2.5%6.0%6.0%7.4%7.8%6.6%6.1%6.6%7.0%6.1%5.1%5.1%4.5%4.8%4.5%
SG&A as % of revenue7.5%7.6%7.1%7.0%7.2%7.0%7.7%7.9%7.6%6.7%6.8%7.1%6.2%5.2%5.6%6.2%6.7%7.0%
Capital spending as % of revenue5.8%2.0%2.5%1.8%2.6%2.6%5.9%7.0%6.8%3.3%2.7%4.6%3.4%2.0%1.8%2.1%2.8%4.2%
Free cash flow ÷ net income84.1%72.1%63.4%97.7%82.9%75.1%59.3%86.5%49.4%52.5%109.2%70.5%45.3%18.8%135.9%100.0%117.3%83.9%
Dividends ÷ net income10.1%12.8%15.8%156.8%19.0%25.5%29.7%31.1%43.5%34.3%32.1%30.8%45.0%30.1%21.9%20.7%25.3%24.4%
Dividends and buybacks ÷ free cash flow12.0%112.9%99.7%160.5%65.0%175.7%187.7%53.0%115.7%253.5%29.4%96.9%326.5%556.2%24.2%27.6%37.3%62.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: NEU vs SCLAVNT vs NEUESI vs NEU

More: Specialty Chemicals stocks compared, Materials sector, rankings of US companies

Figures from Newmarket Corp's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Newmarket Corp.