STEPAN CO

Listed Company

SCLCIK 0000094049NYSELarge AcceleratedSoap, Detergents, Cleang Preparations, Perfumes, CosmeticsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.33B

Net Income

$46.90M

Total Assets

$2.36B

Equity

$1.24B

Shares Out

22.64M

Op. Cash Flow

$147.88M

Business

STEPAN CO produces specialty and intermediate chemicals sold to other manufacturers for use in a variety of end products. It offers surfactants, polymers (including polyurethane polyols, polyester resins and phthalic anhydride) and specialty products used in cleaning and personal care, industrial and construction, agricultural, food, flavoring, nutritional supplement and pharmaceutical applications. The company reports three business segments—Surfactants, Polymers and Specialty Products—providing formulation, technical support and manufacturing services. STEPAN sells through business-to-business channels to a wide range of manufacturers across regional and global markets and does not sell directly to retail customers.

Summary from filing dated 2025-02-27

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 (Note 1)	2,332	2,180	2,326	2,773	2,346
Cost of Sales	2,062	1,908	2,048	2,346	1,950
Gross Profit	270	272	278	427	396
Selling (Note 1)	49	46	48	59	59
Administrative (Note 1)	91	98	93	102	93
Research, development and technical services (Note 1)	59	56	59	67	63
Deferred compensation expense (Note 12)	2	2	4	−9	7
Total Operating expenses	201	202	205	218	222
Goodwill and other intangibles impairment (Note 4)	6	—	2	978,000	—
Business restructuring and assets impairment (Note 22)	—	—	12	308,000	3
Gain on sales of assets (Note 20)	16	—	—	—	—
Operating Income	79	70	59	207	171
Interest, net (Note 6)	−22	−14	−12	−10	−6
Other, net (Note 8)	3	4	2	−9	8
Nonoperating Income (Expense), Total	−19	−10	−10	−19	2
Income Before Provision for Income Taxes	60	60	48	189	173
Provision for Income Taxes (Note 9)	13	10	8	42	35
Net Income	47	50	40	147	138
Basic (per share)	2.05	2.21	1.77	6.46	6.01
Diluted (per share)	2.05	2.2	1.75	6.38	5.92
Basic (shares)	23	23	23	23	23
Diluted (shares)	23	23	23	23	23

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	133	100	130	174	159
Receivables, less allowances of $10,533 in 2025 and $10,827 in 2024	388	388	422	437	420
Inventories (Note 5)	299	289	266	403	306
Other current assets	39	34	34	32	29
Total current assets	859	810	852	1,045	913
Land	58	54	53	51	51
Buildings and improvements	455	399	335	293	261
Machinery and equipment	2,161	1,917	1,797	1,640	1,542
Construction in progress	113	275	400	386	238
Property, Plant and Equipment, Gross	2,787	2,646	2,585	2,371	2,091
Less: Accumulated depreciation	−1,567	−1,447	−1,378	−1,297	−1,240
Property, plant and equipment, net	1,220	1,198	1,207	1,073	851
Goodwill, net (Note 4)	93	91	97	96	97
Other intangible assets, net (Note 4)	40	43	53	58	61
Long-term investments (Note 2)	21	26	27	23	34
Operating lease assets (Note 7)	62	71	71	63	70
Other non-current assets	63	65	57	75	40
Total Assets	2,358	2,305	2,363	2,433	2,066
Current maturities of debt (Note 6)	286	293	253	132	41
Accounts payable	262	259	233	376	323
Accrued liabilities (Note 14)	119	117	122	163	136
Total current liabilities	666	669	608	671	500
Deferred income taxes (Note 9)	11	10	10	10	12
Long-term debt, less current maturities (Note 6)	341	333	401	455	323
Non-current operating lease liability (Note 7)	49	57	58	51	57
Other non-current liabilities (Note 15)	45	66	69	81	99
Commitments and Contingencies (Note 16)	—	—	—	—	—
Common stock, $1 par value; 60,000,000 authorized shares; 27,301,177 issued shares in 2025 and 27,156,436 issued shares in 2024	27	27	27	27	27
Additional paid-in capital	260	254	247	237	221
Accumulated other comprehensive loss (Note 19)	−139	−197	−131	−168	−153
Retained earnings	1,286	1,274	1,257	1,250	1,134
Less: Common treasury stock, at cost, 4,676,739 shares in 2025 and 4,655,798 shares in 2024	−190	−188	−184	−181	−154
Total Stepan Company stockholders equity	1,244	1,170	1,216	1,166	1,074
Total Liabilities and Equity	2,358	2,305	2,363	2,433	2,066

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	126	112	105	95	91
Realized and unrealized (gains) on long-term investments	−2	−3	−4	8	−2
Stock-based compensation	6	5	6	14	12
Deferred income taxes	−1	−10	18	−27	−34
Goodwill and other intangibles impairment (Note 4)	6	—	2	978,000	—
Other non-cash items	−14	3	5	2	2
Receivables, net	24	9	32	−26	−104
Inventories	500,000	−37	145	−99	−79
Other current assets	−7	−1,000	−5	−4	−1
Accounts payable and accrued liabilities	−33	34	−159	54	44
Pension liabilities	−3	−131,000	−1	−2	−2
Environmental and legal liabilities	−680,000	−695,000	−12	10	450,000
Deferred revenues	−3	−2	−2	−962,000	277,000
Net Cash Provided By Operating Activities	148	162	175	161	72
Expenditures for property, plant and equipment	−123	−123	−260	−302	−194
Proceeds from sales of assets (Note 20)	27	0	0	—	—
Other, net	7	6	2	3	1
Net Cash Used In Investing Activities	−89	−117	−259	−308	−377
Revolving debt and bank overdrafts, net (Note 6)	−11	20	105	—	—
Other debt borrowings (Note 6)	75	—	—	75	200
Other debt repayments (Note 6)	−63	−49	−38	—	—
Dividends paid	−35	−34	−33	−31	−28
Stock option exercises	104,000	1	3	782,000	1
Other, net	−2	−3	−4	−3	−4
Net Cash Provided By (Used In) Financing Activities	−35	−65	33	166	117
Effect of Exchange Rate Changes on Cash	10	−11	7	−4	−3
Net Increase (Decrease) in Cash and Cash Equivalents	33	−30	−44	15	−191
Cash payments of income taxes, net of refunds (Note 9)	8	−12	30	42	93
Cash payments of interest	29	30	28	17	10

Filings

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