Quaker Chemical (KWR) financial statements
Quaker Chemical reported revenue of $1.9B in fiscal 2025, up 10.9% a year over 9 years.
Net income was -$2M and the operating margin 2.8%, against 11.4% in 2016.
Free cash flow was $81M, and the company returned $34M in dividends and $42M in net buybacks.
The diluted share count rose 33% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Quaker Chemical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $747M | $820M | $868M | $1.1B | $1.4B | $1.8B | $1.9B | $2.0B | $1.8B | $1.9B |
| Cost of revenue | $467M | $529M | $555M | $741M | $904M | $1.2B | $1.3B | $1.2B | $1.2B | $1.2B |
| Gross profit | $280M | $291M | $312M | $392M | $513M | $595M | $613M | $706M | $686M | $679M |
| Research and development | $22M | $24M | $24M | $32M | $40M | $45M | $46M | $50M | $57M | $61M |
| Selling, general and admin | $194M | $199M | $208M | $284M | $381M | $419M | $464M | $484M | $485M | $502M |
| Operating income | $85M | $63M | $88M | $46M | $59M | $150M | $52M | $214M | $195M | $53M |
| Interest expense | $3M | $1M | $4M | $17M | $27M | $22M | $33M | $51M | $41M | $44M |
| Pre-tax income | $84M | $61M | $83M | $29M | $27M | $147M | $7M | $153M | $155M | $7M |
| Income tax | $23M | $42M | $25M | $2M | -$5M | $35M | $25M | $56M | $49M | $25M |
| Net income | $61M | $20M | $59M | $32M | $40M | $121M | -$16M | $113M | $117M | -$2M |
| EPS (diluted) | $4.63 | $1.52 | $4.45 | $2.08 | $2.22 | $6.77 | -$0.89 | $6.26 | $6.51 | -$0.14 |
| Diluted shares | 13M | 13M | 13M | 15M | 18M | 18M | 18M | 18M | 18M | 17M |
| Gross margin | 37.5% | 35.5% | 36.0% | 34.6% | 36.2% | 33.8% | 31.5% | 36.1% | 37.3% | 36.0% |
| Operating margin | 11.4% | 7.7% | 10.1% | 4.1% | 4.2% | 8.5% | 2.7% | 11.0% | 10.6% | 2.8% |
| Net margin | 8.2% | 2.5% | 6.9% | 2.8% | 2.8% | 6.9% | -0.8% | 5.8% | 6.3% | -0.1% |
Balance sheet
Fiscal years, from Quaker Chemical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $89M | $90M | $104M | $124M | $182M | $165M | $181M | $195M | $189M | $180M |
| Receivables | $195M | $208M | $202M | $376M | $373M | $431M | $473M | $445M | $400M | $417M |
| Inventory | $77M | $87M | $94M | $175M | $188M | $265M | $285M | $234M | $227M | $266M |
| Total current assets | $376M | $407M | $419M | $716M | $793M | $920M | $994M | $928M | $876M | $921M |
| Property, plant and equipment | $86M | $87M | $84M | $213M | $204M | $198M | $199M | $208M | $230M | $313M |
| Goodwill | $81M | $86M | $83M | $607M | $631M | $631M | $515M | $513M | $519M | $502M |
| Total assets | $692M | $722M | $710M | $2.9B | $2.9B | $3.0B | $2.8B | $2.7B | $2.6B | $2.8B |
| Total current liabilities | $127M | $155M | $151M | $360M | $383M | $430M | $355M | $368M | $380M | $380M |
| Long-term debt | $66M | $61M | $36M | $882M | $849M | $836M | $934M | $731M | $670M | $835M |
| Total liabilities | $279M | $313M | $273M | $1.6B | $1.6B | $1.6B | $1.5B | $1.3B | $1.3B | $1.4B |
| Shareholders' equity | $403M | $408M | $435M | $1.2B | $1.3B | $1.4B | $1.3B | $1.4B | $1.4B | $1.4B |
| Net debt | -$22M | -$23M | -$68M | $797M | $706M | $728M | $772M | $560M | $518M | $691M |
Cash flow
Fiscal years, from Quaker Chemical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $74M | $65M | $79M | $82M | $178M | $49M | $42M | $279M | $205M | $136M |
| Capital spending | $10M | $11M | $13M | $16M | $18M | $21M | $29M | $39M | $42M | $56M |
| Free cash flow | $64M | $54M | $66M | $67M | $160M | $27M | $13M | $240M | $163M | $81M |
| Stock-based compensation | $6M | $4M | $4M | $5M | $11M | $11M | $12M | $15M | $15M | $14M |
| Dividends paid | $18M | $19M | $19M | $22M | $28M | $29M | $30M | $32M | $33M | $34M |
| Share buybacks (net) | -$6M | $0 | $0 | — | — | — | $0 | $0 | -$49M | -$42M |
| Net borrowing | $0 | $0 | $0 | $750M | -$38M | -$38M | $77M | -$39M | -$57M | -$35M |
| Free cash flow margin | 8.5% | 6.6% | 7.6% | 5.9% | 11.3% | 1.6% | 0.7% | 12.3% | 8.8% | 4.3% |
| Dividends per share | $1.34 | $1.41 | $1.45 | $1.44 | $1.55 | $1.60 | $1.69 | $1.77 | $1.86 | $1.97 |
Questions
What was Quaker Chemical's revenue in 2025?
$1.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Quaker Chemical generate?
$81M in fiscal 2025 (operating cash flow minus capital spending).
From Quaker Chemical's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.