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Newmarket vs Westlake: revenue, profit, margins and growth compared

Newmarket brought in $2.7B of revenue in fiscal 2025, Westlake $11.2B in fiscal 2025. Revenue changed by -2.2% at Newmarket and -8.0% at Westlake on the year before, so Newmarket grew faster. Newmarket kept 15.4% of its revenue as net profit, Westlake -13.5%. Free cash flow was $491.3M at Newmarket and -$530M at Westlake.

Side by side, latest fiscal year

NEUWLK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.7B$11.2B
Revenue growth-2.2%-8.0%
Net income$418.7M-$1.5B
Net margin15.4%-13.5%
Free cash flow$491.3M-$530M
Free cash flow margin18.0%-4.7%
Earnings per share (diluted)$44.44-$11.70
Cash$77.6M$2.7B
Debt$883.4M$5.6B
Price to earnings20.2n/a
Market value$8.3B$8.7B
Dividend yield1.25%3.12%
Rank by revenue in sector#191 of 451 · Industrials#58 of 451 · Industrials

Over the years

Revenue
NEU FY2018: $2.3BNEU FY2019: $2.2BNEU FY2020: $2BNEU FY2021: $2.4BNEU FY2022: $2.8BNEU FY2023: $2.7BNEU FY2024: $2.8BNEU FY2025: $2.7BWLK FY2018: $8.6BWLK FY2019: $8.1BWLK FY2020: $7.5BWLK FY2021: $11.8BWLK FY2022: $15.8BWLK FY2023: $12.5BWLK FY2024: $12.1BWLK FY2025: $11.2BFY18FY19FY20FY21FY22FY23FY24FY25
NEU $2.7BWLK $11.2B
Net income
NEU FY2018: $234.7MNEU FY2019: $254.3MNEU FY2020: $270.6MNEU FY2021: $190.9MNEU FY2022: $279.5MNEU FY2023: $388.9MNEU FY2024: $462.4MNEU FY2025: $418.7MWLK FY2018: $996MWLK FY2019: $421MWLK FY2020: $330MWLK FY2021: $2BWLK FY2022: $2.2BWLK FY2023: $479MWLK FY2024: $602MWLK FY2025: -$1.5BFY18FY19FY20FY21FY22FY23FY24FY25
NEU $418.7MWLK -$1.5B
Net margin
NEU FY2018: 10.3%NEU FY2019: 11.6%NEU FY2020: 13.5%NEU FY2021: 8.1%NEU FY2022: 10.1%NEU FY2023: 14.4%NEU FY2024: 16.6%NEU FY2025: 15.4%WLK FY2018: 11.5%WLK FY2019: 5.2%WLK FY2020: 4.4%WLK FY2021: 17.1%WLK FY2022: 14.2%WLK FY2023: 3.8%WLK FY2024: 5.0%WLK FY2025: -13.5%FY18FY19FY20FY21FY22FY23FY24FY25
NEU 15.4%WLK -13.5%
Revenue growth
NEU FY2019: -4.3%NEU FY2020: -8.2%NEU FY2021: +17.2%NEU FY2022: +17.3%NEU FY2023: -2.4%NEU FY2024: +3.3%NEU FY2025: -2.2%WLK FY2019: -6.0%WLK FY2020: -7.6%WLK FY2021: +57.0%WLK FY2022: +34.1%WLK FY2023: -20.6%WLK FY2024: -3.2%WLK FY2025: -8.0%FY19FY20FY21FY22FY23FY24FY25
NEU -2.2%WLK -8.0%
Free cash flow
NEU FY2018: $123.3MNEU FY2019: $277.8MNEU FY2020: $190.8MNEU FY2021: $86.4MNEU FY2022: $52.5MNEU FY2023: $528.5MNEU FY2024: $462.3MNEU FY2025: $491.3MWLK FY2018: $707MWLK FY2019: $514MWLK FY2020: $772MWLK FY2021: $1.7BWLK FY2022: $2.3BWLK FY2023: $1.3BWLK FY2024: $306MWLK FY2025: -$530MFY18FY19FY20FY21FY22FY23FY24FY25
NEU $491.3MWLK -$530M

Fiscal years as each company reports them; the two may end in different months.

Questions about Newmarket and Westlake

Which is bigger by revenue, Newmarket or Westlake?

Westlake is bigger by revenue: $11.2B in fiscal 2025, against $2.7B for Newmarket in fiscal 2025.

Which keeps more of its revenue as profit, Newmarket or Westlake?

Newmarket had a net margin of 15.4% in fiscal 2025; Westlake had -13.5% in fiscal 2025.

Which grew revenue faster, Newmarket or Westlake?

In their latest fiscal years revenue changed by -2.2% at Newmarket and -8.0% at Westlake.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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