Stepan (SCL) financial statements
Stepan reported revenue of $2.3B in fiscal 2025, up 3.1% a year over 9 years.
Net income was $47M and the operating margin 3.4%, against 7.2% in 2016.
Free cash flow was $25M, and the company returned $35M in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Stepan's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $2.0B | $1.9B | $1.9B | $2.3B | $2.8B | $2.3B | $2.2B | $2.3B |
| Cost of revenue | $1.4B | $1.6B | $1.7B | $1.5B | $1.5B | $2.0B | $2.3B | $2.0B | $1.9B | $2.1B |
| Gross profit | $339M | $346M | $339M | $340M | $384M | $396M | $427M | $278M | $272M | $270M |
| Research and development | $35M | $33M | $34M | $34M | $36M | $39M | $41M | $36M | $34M | $35M |
| Selling, general and admin | $132M | $130M | $136M | $140M | $143M | $152M | $161M | $142M | $144M | $140M |
| Operating income | $128M | $155M | $149M | $127M | $172M | $171M | $207M | $59M | $70M | $79M |
| Interest expense | — | $14M | $13M | $13M | $10M | $10M | $18M | $29M | $33M | $31M |
| Pre-tax income | $114M | $147M | $138M | $126M | $171M | $173M | $189M | $48M | $60M | $60M |
| Income tax | $28M | $46M | $27M | $23M | $43M | $35M | $42M | $8M | $10M | $13M |
| Net income | $86M | $101M | $111M | $103M | $127M | $138M | $147M | $40M | $50M | $47M |
| EPS (diluted) | $3.73 | $4.31 | $4.76 | $4.42 | $5.45 | $5.92 | $6.38 | $1.75 | $2.20 | $2.05 |
| Diluted shares | 23M | 23M | 23M | 23M | 23M | 23M | 23M | 23M | 23M | 23M |
| Gross margin | 19.2% | 18.0% | 17.0% | 18.3% | 20.5% | 16.9% | 15.4% | 11.9% | 12.5% | 11.6% |
| Operating margin | 7.2% | 8.0% | 7.5% | 6.8% | 9.2% | 7.3% | 7.5% | 2.5% | 3.2% | 3.4% |
| Net margin | 4.9% | 5.2% | 5.6% | 5.5% | 6.8% | 5.9% | 5.3% | 1.7% | 2.3% | 2.0% |
Balance sheet
Fiscal years, from Stepan's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $226M | $299M | $300M | $315M | $350M | $159M | $174M | $130M | $100M | $133M |
| Receivables | $263M | $294M | $280M | $277M | $301M | $420M | $437M | $422M | $388M | $388M |
| Inventory | $174M | $173M | $232M | $204M | $219M | $306M | $403M | $266M | $289M | $299M |
| Total current assets | $686M | $789M | $834M | $819M | $906M | $913M | $1.0B | $852M | $810M | $859M |
| Property, plant and equipment | $583M | $598M | $609M | $639M | $683M | $851M | $1.1B | $1.2B | $1.2B | $1.2B |
| Goodwill | $25M | $25M | $23M | $26M | $28M | $97M | $96M | $97M | $91M | $93M |
| Total assets | $1.4B | $1.5B | $1.5B | $1.6B | $1.8B | $2.1B | $2.4B | $2.4B | $2.3B | $2.4B |
| Total current liabilities | $297M | $320M | $339M | $339M | $417M | $500M | $671M | $608M | $669M | $666M |
| Long-term debt | $289M | $268M | $239M | $199M | $161M | $323M | $455M | $401M | $333M | $341M |
| Total liabilities | $702M | $705M | $706M | $687M | $764M | $991M | $1.3B | $1.1B | $1.1B | $1.1B |
| Shareholders' equity | $635M | $740M | $807M | $892M | $987M | $1.1B | $1.2B | $1.2B | $1.2B | $1.2B |
| Net debt | $91M | -$8M | -$24M | -$93M | -$151M | $204M | $413M | $524M | $526M | $494M |
Cash flow
Fiscal years, from Stepan's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $212M | $199M | $171M | $218M | $235M | $72M | $161M | $175M | $162M | $148M |
| Capital spending | $103M | $79M | $87M | $106M | $126M | $194M | $302M | $260M | $123M | $123M |
| Free cash flow | $109M | $120M | $84M | $113M | $109M | -$122M | -$141M | -$85M | $39M | $25M |
| Stock-based compensation | $13M | $7M | $7M | $9M | $10M | $12M | $14M | $6M | $5M | $6M |
| Dividends paid | $17M | $19M | $21M | $23M | $25M | $28M | $31M | $33M | $34M | $35M |
| Share buybacks (net) | -$2M | -$6M | -$16M | -$13M | -$15M | -$17M | -$25M | — | — | — |
| Net borrowing | -$15M | -$21M | -$21M | -$46M | -$24M | -$38M | -$38M | -$38M | -$49M | — |
| Free cash flow margin | 6.2% | 6.2% | 4.2% | 6.1% | 5.9% | -5.2% | -5.1% | -3.7% | 1.8% | 1.1% |
| Dividends per share | $0.75 | $0.81 | $0.89 | $0.99 | $1.09 | $1.21 | $1.33 | $1.43 | $1.48 | $1.53 |
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Open SCL in InvestinglyQuestions
What was Stepan's revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Stepan generate?
$25M in fiscal 2025 (operating cash flow minus capital spending).
From Stepan's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.