Koppers Holdings Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Koppers Holdings Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,416	1,476	1,563	1,637	1,669	1,679	1,981	2,154	2,092	1,879
Cost of revenue	1,126	1,153	1,261	1,306	1,309	1,345	1,636	1,730	1,670	1,432
Gross profit	290	322	302	331	360	334	345	425	423	448
Research and development	6.6	9
Selling, general and administrative	126	133	158	148	143	149	153	174	179	155
Operating income	93.4	124	84.4	125	157	157	138	195	148	168
Interest expense	50.8	42.5	54.1	61.7	48.9	40.5	44.8	71	76.2	66.1
Other non-operating income	0.3	2.5	0.9	0.4	2.3	3.6	2.5	0.4	1.3	6.6
Pre-tax income	38.5	60.3	31.2	63.7	110	120	95.4	125	69.3	81.2
Income tax	11.4	29	25.7	0	21	34.5	31.6	34.8	20.7	25.2
Income from continuing operations	28.7	29.9	5.5	63.7	90.1	85.4	64	89.2	52.4
Net income to minority interests	-1.6	1.4	5.8	0.8	-1	-0.3	-0.2	0.6	-3.8	0
Net income	29.3	29.1	23.4	66.6	122	85.2	63.4	89.2	52.4	56
EBITDA	146	173	131	176	211	214	194	252	216	241
EPS, basic	1.42	1.40	1.12	3.22	5.81	4.00	3.02	4.28	2.54	2.82
EPS, diluted	1.39	1.32	1.10	3.16	5.71	3.88	2.98	4.14	2.46	2.74
Shares, basic (weighted)	20.6	20.8	20.9	20.7	21	21.2	21	20.8	20.7	19.9
Shares, diluted (weighted)	21.1	22	21.3	21.1	21.4	21.9	21.3	21.5	21.3	20.4
Dividend per share	0.00						0.20	0.24	0.28	0.32

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	20.8	50.9	37.4	32.3	38.5	45.5	33.3	66.5	43.9	38
Receivables	137	159	190	162	175	183	216	202	192	159
Inventory	229	237	285	289	296	314	356	396	405	411
Other current assets	39.1	48.6	22.5	16.4	16.6	25	29	27.3	38.8	29.3
Total current assets	438	507	540	520	565	628	637	699	681	669
Property, plant and equipment	281	328	418	359	409	489	557	632	661	651
Lease right-of-use assets			0	112	103	91.2	86.3	90.5	89.8	103
Goodwill	186	188	297	296	298	296	294	294	317	329
Intangible assets	142	130	188	168	150	132	116	102	119	107
Other non-current assets	13.2	29.3	21.7	22.4	24.6	11	9.2	7.3	14.5	21.2
Total assets	1,088	1,200	1,480	1,565	1,599	1,662	1,711	1,836	1,890	1,887
Accounts payable	144	142	177	163	154	172	207	203	179	122
Accrued liabilities	106	128	110	89.3	107	90.5	96.1	95.1	115	72.6
Short-term debt	42.6	11.4	11.6	10.2	10.1	2	0	5	4.9	4.9
Total current liabilities	293	281	299	296	292	286	324	326	326	227
Long-term debt	620	666	979	891	766	782	818	835	926	914
Lease liabilities			0	91.5	81.3	70.3	66.3	67.4	64.4	76.1
Other non-current liabilities	82.1	94	80.4	48.7	45.9	41.6	44.2	46.3	44.3	37.6
Total liabilities	1,053	1,094	1,413	1,406	1,253	1,251	1,308	1,333	1,401	1,313
Total debt	671	689	1,003	912	784	789	825	849	940	928
Paid-in capital	177	191	206	222	234	250	264	291	317	332
Retained earnings	-24.7	7.4	27.2	93.8	216	301	360	444	490	539
Treasury stock	-53	-58.2	-90	-90.9	-92.5	-104	-128	-148	-199	-237
Other comprehensive income	-68.6	-40.1	-87.2	-77.7	-15.9	-40	-97.3	-88.8	-121	-61.4
Shareholders' equity	30.4	99.9	56.2	147	342	407	399	499	489	574
Minority interests	4.2	5.9	10.8	11.4	4.3	4.2	3.6	4.1	0.3	0.3
Total equity	34.6	106	67	159	346	411	403	503	489	574
Total liabilities and equity	1,088	1,200	1,480	1,565	1,599	1,662	1,711	1,836	1,890	1,887
Shares outstanding						21.1	20.8	20.9	20.3	19.5

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	27.7	30.5	29.2	67.4	121	84.9	63.2	89.8	48.6	56
Depreciation and amortization	52.9	49.8	46.9	51.4	54.1	57.7	56.1	57	67.5	73.6
Stock-based compensation	8.9	10.6	12.5	12.1	11.3	13	13.2	17.3	20.8	13.8
Deferred income tax	-1.3	1.6	8.9	-11.4	8.4	16.9	2.6	5.7	2.8	11.3
Change in receivables	12.7	-16	-7.7	25.4	-11.5	-12.7	-32.3	14.9	8.1	30.9
Change in inventory	-3.3	0.7	-18.3	-14.8	8.7	-24.3	-41.8	-37.2	-6.3	10.4
Change in payables	5	-13.6	30.8	-3.1	-25.3	20.9	32.7	-0.4	-19.4	-57.2
Cash from operations	120	102	78.3	115	127	103	102	146	119	123
Capital expenditures	-49.9	-67.5	-110	-37.2	-69.8	-125	-105	-121	-77.4	-55
Acquisitions	0	0	-264	0	0	0	-14.7	0	-99.3	-20.7
Cash from investing	-53.7	-56.5	-376	-33.8	5.6	-89.5	-115	-116	-173	-72.7
Debt issued	0	500	100	0	0	0	0	388	100	0
Debt repaid	-31.7	-547	-20.3	-29.7	-70.7	-10.1	-2	-501	-5.7	-4.9
Stock issued	0.4	2.7	2.9	4	1.1	2.4	1.1	9.9	5.3	1.4
Share buybacks	-0.3	-5.2	-31.8	-0.9	-1.6	-11.5	-23.6	-20.1	-50.8	-38.2
Dividends paid	0	0	0		0	0	-4.2	-5	-5.9	-6.4
Cash from financing	-62.7	-5.9	283	-88.7	-129	-4	4.8	2.6	35.7	-58.5
Exchange rate effect	-4.1	0.1	-4.4	-0.4
Net change in cash	-1	39.5	-13.5	-5.1	6.2	7	-12.2	33.2	-22.6	-5.9
Free cash flow	69.6	34.3	-31.4	78.1	57.3	-22	-3	25.6	42	67.5
Interest paid	42.7	37.6	49.8	60.9	50.1	38.1	41.3	70	78.5	63.5
Income taxes paid	11.6	16.6	25.9	16.8	13.4	23.4	20.7	34.3	27.6	9.4

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $46.27 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	22.4%	Gross profit / revenue.
Operating margin	-2.2%	Operating income / revenue.
EBITDA margin	1.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-5.2%	Pre-tax income / revenue.
Net margin	-4.6%	Net income / revenue.
FCF margin	7.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.1%	Cash from operations / revenue.
Return on equity (ROE)	-22.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-5.0%	Net income / average total assets.
Return on invested capital (ROIC)	-2.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	8.3%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.8%	Capital expenditures / revenue.
D&A / revenue	4.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-10.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	9.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	4.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	13.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	6.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	1.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	11.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	7.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	2.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	6.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-4.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-14.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	11.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-2.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-13.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	2.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-0.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	60.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	3.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	14.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	17.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	17.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.33x	Current assets / current liabilities.
Quick ratio	0.85x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.14x	(Cash + short-term investments) / current liabilities.
Debt / equity	2.34x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	52.6%	Total debt / total assets.
Liabilities / assets	77.5%	Total liabilities / total assets.
Net debt	$865.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	26.5x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.68x	Operating income / interest expense.
Working capital	$388.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	24.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$38.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.10x	Revenue / average total assets.
Fixed asset turnover	3.93x	Revenue / average property, plant and equipment.
Inventory turnover	3.81x	Cost of revenue / average inventory.
Days inventory	96 days	365 x average inventory / cost of revenue.
Receivables turnover	9.20x	Revenue / average receivables.
Days sales outstanding	40 days	365 x average receivables / revenue.
Days payables	41 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	94 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	27.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$4.54	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$98.99	Revenue / diluted weighted shares.
FCF per share	$7.25	Free cash flow / diluted weighted shares.
Operating cash flow per share	$9.99	Cash from operations / diluted weighted shares.
Book value per share	$20.47	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$2.05	Tangible book value / shares outstanding.
Cash per share	$2.15	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	5.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	38.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$875.0M	Share price x shares outstanding.
Enterprise value	$1.74B	Market cap + total debt - cash - short-term investments.
P/S	0.46x	Market cap / revenue.
P/B	2.26x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	6.31x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.58x	Market cap / cash from operations, when positive.
EV/Sales	0.92x	Enterprise value / revenue.
EV/EBITDA	53.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	12.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	15.9%	Free cash flow / market cap.
Earnings yield	-9.9%	Net income / market cap (the inverse of P/E).
Dividend yield	0.8%	Dividends paid over the period / market cap.
Shareholder yield	6.8%	(Dividends paid + share buybacks) / market cap.

What was Koppers Holdings Inc.'s revenue in fiscal 2025?

Koppers Holdings Inc. reported revenue of $1.88B for fiscal 2025, 10.2% lower than the year before.

Was Koppers Holdings Inc. profitable in fiscal 2025?

Yes. Net income was $56.0M, a net margin of 3%.

How much free cash flow did Koppers Holdings Inc. generate in fiscal 2025?

Cash from operations of $122.5M minus capital expenditures of $55.0M left free cash flow of $67.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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