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

Newmarket brought in $2.7B of revenue in fiscal 2025, Westlake Chemical Partners $1.2B in fiscal 2025. Revenue changed by -2.2% at Newmarket and +2.7% at Westlake Chemical Partners on the year before, so Westlake Chemical Partners grew faster. Newmarket kept 15.4% of its revenue as net profit, Westlake Chemical Partners 4.2%. Free cash flow was $491.3M at Newmarket and $201.7M at Westlake Chemical Partners.

Side by side, latest fiscal year

NEUWLKP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.7B$1.2B
Revenue growth-2.2%+2.7%
Net income$418.7M$48.7M
Net margin15.4%4.2%
Free cash flow$491.3M$201.7M
Free cash flow margin18.0%17.3%
Earnings per share (diluted)$44.44n/a
Cash$77.6M$44.3M
Debt$883.4Mn/a
Price to earnings20.2n/a
Market value$8.3B$761.3M
Dividend yield1.25%n/a
Rank by revenue in sector#191 of 451 · Industrials#260 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: $2.7BWLKP FY2018: $1.3BWLKP FY2019: $1.1BWLKP FY2020: $966.7MWLKP FY2021: $1.2BWLKP FY2022: $1.6BWLKP FY2023: $1.2BWLKP FY2024: $1.1BWLKP FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
NEU $2.7BWLKP $1.2B
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: $418.7MWLKP FY2018: $49.3MWLKP FY2019: $61MWLKP FY2020: $66.2MWLKP FY2021: $82.5MWLKP FY2022: $64.2MWLKP FY2023: $54.3MWLKP FY2024: $62.4MWLKP FY2025: $48.7MFY18FY19FY20FY21FY22FY23FY24FY25
NEU $418.7MWLKP $48.7M
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%WLKP FY2018: 3.8%WLKP FY2019: 5.6%WLKP FY2020: 6.8%WLKP FY2021: 6.8%WLKP FY2022: 4.0%WLKP FY2023: 4.6%WLKP FY2024: 5.5%WLKP FY2025: 4.2%FY18FY19FY20FY21FY22FY23FY24FY25
NEU 15.4%WLKP 4.2%
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%WLKP FY2019: -15.1%WLKP FY2020: -11.5%WLKP FY2021: +25.7%WLKP FY2022: +31.1%WLKP FY2023: -25.3%WLKP FY2024: -4.6%WLKP FY2025: +2.7%FY19FY20FY21FY22FY23FY24FY25
NEU -2.2%WLKP +2.7%
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: $491.3MWLKP FY2018: $396.3MWLKP FY2019: $407.1MWLKP FY2020: $336.4MWLKP FY2021: $327.3MWLKP FY2022: $409.6MWLKP FY2023: $405.2MWLKP FY2024: $436MWLKP FY2025: $201.7MFY18FY19FY20FY21FY22FY23FY24FY25
NEU $491.3MWLKP $201.7M

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

Questions about Newmarket and Westlake Chemical Partners

Which is bigger by revenue, Newmarket or Westlake Chemical Partners?

Newmarket is bigger by revenue: $2.7B in fiscal 2025, against $1.2B for Westlake Chemical Partners in fiscal 2025.

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

Newmarket had a net margin of 15.4% in fiscal 2025; Westlake Chemical Partners had 4.2% in fiscal 2025.

Which grew revenue faster, Newmarket or Westlake Chemical Partners?

In their latest fiscal years revenue changed by -2.2% at Newmarket and +2.7% at Westlake Chemical Partners.

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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