NEWMARKET CORP

Listed Company

NEUCIK 0001282637NYSELarge AcceleratedIndustrial Organic ChemicalsVirginiaFY ends Dec 31

Period

FY 2025

Revenue

$2.73B

Net Income

$418.75M

Total Assets

$3.49B

Equity

$1.78B

Shares Out

9.20M

Op. Cash Flow

$568.97M

Business

NewMarket Corporation is a holding company that owns Afton Chemical, Ethyl, AMPAC, NewMarket Services, and NewMarket Development and consolidates their operations. Its subsidiaries manufacture and market specialty chemicals including Afton’s formulated lubricant and fuel additive packages, Ethyl’s antiknock compounds and contract manufacturing services, AMPAC’s perchlorate-based specialty materials for solid rocket motors, plus corporate services and property management. The company reports two primary segments—petroleum additives and specialty materials—with an “All other” category for Ethyl’s activities. It sells worldwide across North America, Europe, Asia, Africa, and South America to refiners, oil companies, distributors, OEMs, defense and space contractors, and government agencies.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	2,725	2,787	2,698	2,765	2,356
Cost of goods sold	1,868	1,900	1,926	2,124	1,808
Gross profit	857	886	773	640	548
Selling, general, and administrative expenses	182	171	151	145	146
Research, development, and testing expenses	132	125	138	140	144
Operating profit	544	590	483	355	258
Interest and financing expenses, net	40	57	37	35	34
Other income (expense), net	57	51	43	35	24
Income before income tax expense	561	584	489	348	248
Income tax expense	142	122	100	68	57
Net income	419	462	389	280	191
Earnings Per Share, Diluted	44.44	48.22	40.44	27.77	17.71
Earnings Per Share, Basic	44.44	48.22	40.44	27.77	17.71

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	78	77	112	69	83
Trade and other accounts receivable, net	422	395	432	454	392
Inventories	502	505	456	631	499
Prepaid expenses and other current assets	58	51	39	38	39
Total current assets	1,060	1,030	1,040	1,192	1,388
Property, plant, and equipment, net	775	735	655	660	677
Intangibles (net of amortization) and goodwill	941	750	125	126	128
Prepaid pension cost	586	490	371	303	243
Operating lease right-of-use assets, net	78	71	71	62	68
Deferred charges and other assets	52	53	48	64	55
Total assets	3,492	3,130	2,309	2,407	2,558
Accounts payable	238	226	231	273	246
Accrued expenses	110	89	77	90	85
Dividends payable	24	22	19	18	17
Income taxes payable	17	16	6	16	4
Operating lease liabilities	16	15	15	16	16
Other current liabilities	14	6	16	12	8
Total current liabilities	419	374	364	424	725
Long-Term Debt, Excluding Current Maturities	883	971	644	1,004	790
Operating lease liabilities - noncurrent	62	55	55	47	53
Other noncurrent liabilities	350	267	169	170	229
Total liabilities	1,714	1,668	1,232	1,644	1,796
Commitments and contingencies (Note 21)	—	—	—	—	—
Common stock and paid-in capital (with no par value; authorized shares - 80,000,000; issued and outstanding - 9,397,364 at December 31, 2025 and 9,524,789 at December 31, 2024)	2	0	2	0	0
Accumulated other comprehensive income (loss)	107	33	−21	−72	−82
Retained earnings	1,669	1,429	1,096	834	844
Total shareholders' equity	1,778	1,462	1,077	762	762
Total liabilities and shareholders' equity	3,492	3,130	2,309	2,407	2,558

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	122	117	78	82	84
Deferred income tax expense (benefit)	34	−13	−15	−43	2
Trade and other accounts receivable, net	−11	36	32	−73	−54
Inventories	33	−37	192	−167	−96
Prepaid expenses and other current assets	−3	1	744,000	2	−3
Accounts payable and accrued expenses	16	−8	−59	36	60
Operating lease liabilities	−22	−20	−20	—	—
Other current liabilities	9	−4	−2	4	−6
Income taxes payable	523,000	7	−9	12	562,000
Cash pension and postretirement contributions	−10	−12	−10	−10	−10
Other, net	−19	−12	638,000	−7	7
Cash provided from (used in) operating activities	569	520	577	109	165
Capital expenditures	−78	−57	−48	−56	−79
Acquisition of business (net of cash acquired)	−213	−681	0	0	—
Cash provided from (used in) investing activities	−291	−739	−48	316	−461
Net borrowings (repayments) under revolving credit facility	211	77	−361	213	148
(Payment) proceeds on term loan	−250	—	—	—	—
(Payment) proceeds on term loan	—	250	0	0	—
Dividends paid	−106	−96	−85	−84	−86
Repurchases of common stock	−77	−32	−43	−207	−196
Principal payment on 3.78% senior notes	−50	0	0	—	—
Debt issuance costs	0	−2	0	0	−4
Other, net	−7	−11	1	−4	−2
Cash provided from (used in) financing activities	−279	186	−488	−439	255
Effect of foreign exchange on cash and cash equivalents	1	−1	2	255,000	−926,000
Increase (decrease) in cash and cash equivalents	122,000	−34	43	−15	−42

Filings

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