QUAKER CHEMICAL CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data QUAKER CHEMICAL CORP 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	747	820	868	1,134	1,418	1,761	1,944	1,953	1,840	1,889
Cost of revenue	467	529	555	741	904	1,167	1,331	1,248	1,154	1,209
Gross profit	280	291	312	392	513	595	613	706	686	679
Research and development	22.5	23.9	24.5	32.1	40	44.9	46	50.3	57.3	60.7
Selling, general and administrative	194	199	208	284	381	419	464	484	485	502
Operating income	85.4	62.7	87.8	46.1	59.4	150	52.3	214	195	53
Interest expense	2.89	1.36	4.04	17	26.6	22.3	32.6	50.7	41	44
Interest income	2.04	2.53	2.12	0.2	0.1
Other non-operating income	-0.49	-0.72	-0.64	-0.25	-5.62	18.9	-12.6	-10.7	1.35	-1.91
Pre-tax income	84	60.7	83.1	28.9	27.1	147	7.12	153	155	7.03
Income tax	23.2	41.7	25.1	2.08	-5.3	34.9	24.9	55.6	49.3	24.6
Net income to minority interests	1.64	2.02	0.34	0.26	0.13	0.06	0.09	0.12	0.09	0.09
Net income	61.4	20.3	59.5	31.6	39.7	121	-15.9	113	117	-2.49
EBITDA	92.5	70.2	95.3	73.3	117	213	113	275	256	119
EPS, basic	4.64	1.53	4.46	2.08	2.23	6.79	-0.89	6.27	6.51	-0.14
EPS, diluted	4.63	1.52	4.45	2.08	2.22	6.77	-0.89	6.26	6.51	-0.14
Shares, basic (weighted)	13.1	13.2	13.3	15.1	17.7	17.8	17.8	17.9	17.9	17.5
Shares, diluted (weighted)	13.2	13.2	13.3	15.2	17.8	17.9	17.9	17.9	17.9	17.5
Dividend per share	1.36	1.41	1.47	1.53	1.56	1.62	1.70	1.78	1.88	1.99

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	88.8	89.9	104	124	182	165	181	195	189	180
Receivables	195	208	202	376	373	431	473	445	400	417
Inventory	77.1	87.2	94.1	175	188	265	285	234	227	266
Other current assets	15.3	21.1	18.1	41.5	50.2	59.9	55.4	54.6	59.9	58.4
Total current assets	376	407	419	716	793	920	994	928	876	921
Property, plant and equipment	85.7	86.7	83.9	213	204	198	199	208	230	313
Lease right-of-use assets			0	42.9	38.5	36.6	43.8	38.6	34.1	38.7
Goodwill	80.8	86	83.3	607	631	631	515	513	519	502
Intangible assets	73.1	71.6	63.6	1,122	1,081	1,028	943	897	827	874
Long-term investments									0	1.84
Other non-current assets	28.8	30	32.1	40.4	31.8	31	27.7	18.8	17.4	30.3
Total assets	692	722	710	2,850	2,892	2,956	2,822	2,714	2,611	2,798
Accounts payable	77.6	93	87.8	164	192	227	194	185	198	199
Accrued liabilities	23.4	27.3	31.1	83.6	92.1	95.6	86.9	90.3
Deferred revenue			2.19	5.55	6.38	7.97	6.59	2.45	3.86	4.83
Short-term debt	0.71	5.74	0.67	38.3	39	56.9	19.2	23.4	37.6	35.7
Total current liabilities	127	155	151	360	383	430	355	368	380	380
Long-term debt	65.8	61.1	35.9	882	849	836	934	731	670	835
Lease liabilities			0	31.3	27.1	26.3	27	22.9	20	22.8
Other non-current liabilities	35.9	51.5	43.5	66.4	55.2	49.6	38.7	31.8	24.4	22.2
Total liabilities	279	313	273	1,608	1,571	1,568	1,543	1,329	1,256	1,421
Total debt	66.5	66.8	36.6	935	899	901	944	755	707	870
Paid-in capital	112	93.5	97.3	888	905	917	928	940	904	875
Retained earnings	364	366	405	413	424	516	470	551	634	597
Other comprehensive income	-87.4	-65.1	-80.7	-78.2	-26.6	-64	-138	-124	-202	-116
Shareholders' equity	403	408	435	1,241	1,320	1,387	1,278	1,384	1,354	1,373
Minority interests	9.85	1.95	1.32	1.6	0.55	0.63	0.67	0.6	0.62	3.39
Total equity	413	410	436	1,242	1,321	1,388	1,279	1,385	1,354	1,376
Total liabilities and equity	692	722	710	2,850	2,892	2,956	2,822	2,714	2,611	2,798
Shares outstanding					17.9	17.9	18	18	17.7	17.3

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	63	22.3	59.8	31.9	39.8	121	-15.8	113	117	-2.4
Depreciation and amortization	7.13	7.49	7.52	27.1	57.5	62.6	60.7	60.8	60.9	65.8
Stock-based compensation	6.35	4.19	3.72	4.86	11	11	11.7	14.6	15	13.6
Deferred income tax	-5.49	-3.75	-8.2	24.2	-38.3	-12.5	-10.6	-11.4	-10	-30.4
Change in receivables	-11.7	-1.94	-2.82	19.9	17.2	-67.5	-59.1	32.2	25	24.2
Change in inventory	-1.87	-6.14	-10.5	10.8	-3.85	-84.4	-29.9	49.8	-3.24	-12.2
Change in payables	14.1	12.4	0.19	-8.92	22.3	38	-27.9	5.94	-8.64	-30.3
Cash from operations	73.8	64.8	78.8	82.4	178	48.9	41.8	279	205	136
Capital expenditures	-9.95	-10.9	-12.9	-15.5	-17.9	-21.5	-28.5	-38.8	-41.8	-55.9
Acquisitions	-15	-5.36	-0.5	-893	-56.2	-42.4	-13.1	0	-39.3	-164
Cash from investing	-24.8	-14.6	-12.4	-909	-71.4	-49.1	-40.2	-27.6	-76.4	-214
Debt issued	0	0	0	750	0	0	750	0	0
Debt repaid			0	0	-37.6	-38	-673	-38.9	-57.2	-34.7
Share buybacks	-5.86	0	0				0	0	-49.2	-41.5
Dividends paid	-17.6	-18.6	-19.3	-21.8	-27.6	-28.6	-30.1	-31.7	-33.2	-34.4
Cash from financing	-38.1	-55.2	-46.9	844	-75.3	-13.5	24.7	-239	-123	61.8
Exchange rate effect	-4.09	5.4	-6.14	1.26	6.59	-3.06	-10.5
Net change in cash	6.77	0.35	13.4	19.1	38.3	-16.7	15.8	13.6	-5.65	-9.05
Free cash flow	63.8	53.9	65.9	66.8	160	27.5	13.3	240	163	80.6
Interest paid	2.48	2.77	2.42	19.6	23.7	19.3	29.1	54.9	44.5	42.8
Income taxes paid	25	21.5	19.6	15.5	20.3	34.8	35.3	68.6	69	59.7

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 $163.45 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	36.1%	Gross profit / revenue.
Operating margin	7.7%	Operating income / revenue.
EBITDA margin	11.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	5.6%	Pre-tax income / revenue.
Net margin	4.9%	Net income / revenue.
FCF margin	3.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.6%	Cash from operations / revenue.
Effective tax rate	27.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.4%	Net income / average total assets.
Return on invested capital (ROIC)	5.3%	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	27.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.9%	Capital expenditures / revenue.
D&A / revenue	3.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-1.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.5%	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	5.8%	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	-72.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	0.4%	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	-2.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-53.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	1.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	0.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-102.1%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-102.2%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-33.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	48.4%	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	-5.2%	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	-50.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	82.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-12.9%	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	5.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.4%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	5.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.4%	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	0.8%	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	7.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.3%	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	-0.7%	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	-2.2%	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	-0.7%	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	-0.3%	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	2.46x	Current assets / current liabilities.
Quick ratio	1.53x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.38x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.64x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	30.7%	Total debt / total assets.
Liabilities / assets	51.6%	Total liabilities / total assets.
Net debt	$721.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.25x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.67x	Operating income / interest expense.
Working capital	$587.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	46.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$44.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.69x	Revenue / average total assets.
Fixed asset turnover	6.28x	Revenue / average property, plant and equipment.
Receivables turnover	4.26x	Revenue / average receivables.
Days sales outstanding	86 days	365 x average receivables / revenue.
Days payables	68 days	365 x average accounts payable / cost of revenue.
FCF conversion	76.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	43.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.68	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	$114.85	Revenue / diluted weighted shares.
FCF per share	$4.34	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.63	Cash from operations / diluted weighted shares.
Book value per share	$80.01	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$2.55	Tangible book value / shares outstanding.
Cash per share	$9.01	(Cash + short-term investments) / shares outstanding.
Payout ratio	35.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	46.8%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.81B	Share price x shares outstanding.
Enterprise value	$3.53B	Market cap + total debt - cash - short-term investments.
P/E	28.8x	Market cap / net income. Only when net income is positive.
P/S	1.42x	Market cap / revenue.
P/B	2.04x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	64.0x	Market cap / tangible book value, when positive.
P/FCF	37.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	21.4x	Market cap / cash from operations, when positive.
EV/Sales	1.79x	Enterprise value / revenue.
EV/EBIT	23.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	47.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.7%	Free cash flow / market cap.
Earnings yield	3.5%	Net income / market cap (the inverse of P/E).
Dividend yield	1.2%	Dividends paid over the period / market cap.
Shareholder yield	1.2%	(Dividends paid + share buybacks) / market cap.

What was QUAKER CHEMICAL CORP's revenue in fiscal 2025?

QUAKER CHEMICAL CORP reported revenue of $1.89B for fiscal 2025, 2.7% higher than the year before.

Was QUAKER CHEMICAL CORP profitable in fiscal 2025?

No. It reported a net loss of $2.5M.

How much free cash flow did QUAKER CHEMICAL CORP generate in fiscal 2025?

Cash from operations of $136.5M minus capital expenditures of $55.9M left free cash flow of $80.6M.

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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