# NewMarket Corporation (NEU)

> Source: Nexqual · https://nexqual.com/NEU · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, NewMarket Corporation (NEU), nexqual.com/NEU" · informational, not investment advice.

**Price:** USD 876.33 (-0.98% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 884.98 · day 858.98–886.65 · 52w 580.03–981.66 · market cap $8.06B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.74B, net income $433M (15.8% margin), free cash flow $464M (SEC filings).
- Valuation: P/E 18.6x (avg 13.3x at the last 3 fiscal year-ends), EV/EBITDA 13.0x, net debt $761M.
- Analysts: None.
- Total return with dividends: 1Y +17.6% vs S&P 500 +14.9%; 5Y +158.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD —, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.36B | $2.76B | $2.70B | $2.79B | $2.73B | $2.74B |
| Gross profit | $548M | $640M | $773M | $886M | $857M | — |
| Operating income | $258M | $355M | $483M | $590M | $544M | $548M |
| Net income | $191M | $280M | $389M | $462M | $419M | $433M |
| EPS (diluted) | $17.71 | $27.77 | $40.44 | $48.22 | $44.44 | — |
| Free cash flow | $86.4M | $52.5M | $529M | $462M | $491M | $464M |
| Gross margin | 23.2% | 23.2% | 28.6% | 31.8% | 31.5% | — |
| Operating margin | 10.9% | 12.8% | 17.9% | 21.2% | 20.0% | 20.0% |
| Net margin | 8.1% | 10.1% | 14.4% | 16.6% | 15.4% | 15.8% |
| Revenue growth | +17.2% | +17.3% | -2.4% | +3.3% | -2.2% | — |
| Cash + short-term investments | $459M | $68.7M | — | — | $77.6M | — |
| Total debt | $1.14B | $1.00B | $644M | $971M | $883M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 18.6x · P/S 2.9x · EV/EBITDA 13.0x · EV/Sales 3.2x · P/FCF 17.4x · P/B 4.4x · FCF yield 5.76% · Earnings yield 5.38% · Dividend yield (paid, TTM) 1.36% · Buyback yield (TTM) 1.57% · Net debt $761M · EV $8.82B
P/E at fiscal year-ends: Dec 2025 15.4x, Dec 2024 10.9x, Dec 2023 13.5x.

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +17.6% | +158.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +17.7% | +20.9% |
| Volatility (annualized) | 31.6% | 26.2% |
| Max drawdown | -25.4% (Nov 2025→Mar 2026) | -30.6% (Sep 2025→Mar 2026) |

## Peers (Specialty Chemicals)
ESI (Element Solutions Inc.) USD 33.11 -8.89% · WLK (Westlake Corporation) USD 64.14 +5.42% · AXTA (Axalta Coating Systems Ltd.) USD 35.05 +0.20% · EMN (Eastman Chemical Company) USD 65.31 +2.85% · SOLS (Solstice Advanced Materials Inc) USD 59.8 -7.99% · ALB (Albemarle Corporation) USD 92.54 -2.04%

## More
Full page: https://nexqual.com/NEU · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NEU's own 10-K filed 2026-02-12 (https://www.sec.gov/Archives/edgar/data/1282637/000128263726000005/neu-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Afton Chemical | "From custom-formulated additive packages to market-general additives, we believe Afton provides customers with products and solutions that make engines run smoother, machines last longer, and fuels burn cleaner." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Petroleum Additives | $675.6M | 90.4% | +3.3% | $149.4M | 22.1% |
| Specialty Materials | $67.2M | 9.0% | +59.8% | $22.3M | 33.3% |
| All Other | $4.4M | 0.6% | +67.7% | -$212,000 | -4.9% |
| Total revenue | $747.1M | 100% | — | $171.7M | 23.0% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Lubricant Additives | $584.0M | 78.2% | +4.9% |
| Fuel Additives | $91.5M | 12.3% | -6.0% |
| Total revenue | $747.1M | 100% | — |
The lines above cover 90.4% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Domestic Plan | $290.4M | 38.9% | +7.9% |
| Europe, Middle East, Africa, India | $224.7M | 30.1% | +5.5% |
| Asia Pacific | $139.7M | 18.7% | +6.3% |
| Other Foreign | $92.3M | 12.4% | +8.6% |
| Total revenue | $747.1M | 100% | — |

## Company outlook (8-K filed 2026-07-29)

- "We expect to see this additional capacity come online towards the end of 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter | — | — | — | $0 | — |
| Next quarter | — | — | — | $0 | — |
| Current fiscal year (ends 2024-12-31) | — | — | — | $0 | — |
| Next fiscal year | — | — | — | $0 | — |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±7.3%; last 8 reports averaged ±6.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 32.3% | ±7.3% |
| 2026-12-18 | 56 | 30.4% | ±9.7% |
| 2027-03-19 | 147 | 30.7% | ±15.8% |
| 2027-06-17 | 237 | 31.3% | ±20.2% |