Quaker Houghton (KWR)
Market Price (5/25/2026): $141.815 | Market Cap: $2.5 BilSector: Materials | Industry: Specialty Chemicals
Quaker Houghton (KWR)
Market Price (5/25/2026): $141.815Market Cap: $2.5 BilSector: MaterialsIndustry: Specialty Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 41% Megatrend and thematic driversMegatrends include Advanced Materials, Automation & Robotics, and Battery Technology & Metals. Themes include Specialty Chemicals for Performance, Show more. | Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -107% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.41, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 43x, P/EPrice/Earnings or Price/(Net Income) is 577x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.6% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9% Key risksKWR key risks include [1] intense competition for its specialized technical talent and [2] significant exposure to foreign currency fluctuations and volatility in commodity-derived raw material costs. |
| Low stock price volatilityVol 12M is 41% |
| Megatrend and thematic driversMegatrends include Advanced Materials, Automation & Robotics, and Battery Technology & Metals. Themes include Specialty Chemicals for Performance, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -107% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.41, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 43x, P/EPrice/Earnings or Price/(Net Income) is 577x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.6% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9% |
| Key risksKWR key risks include [1] intense competition for its specialized technical talent and [2] significant exposure to foreign currency fluctuations and volatility in commodity-derived raw material costs. |
Qualitative Assessment
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Quaker Houghton (KWR) stock has lost about 5% since 1/31/2026 because of the following key factors:
1. Macroeconomic headwinds created a subdued growth environment for the global chemical industry. Global chemical production was projected to expand at a muted pace of approximately 1.9–2.0% in 2026, reflecting persistent demand pressures from sectors like automotive and construction. The industry also faced continued overcapacity and elevated energy and input costs, which impacted overall market conditions for Quaker Houghton.
2. Management warned of anticipated near-term gross margin pressure for Q2 2026. Despite Q1 2026 gross margin improvement, the company forecasted a decline in Q2 gross margins by roughly 200–300 basis points compared to Q1, attributing this to expected higher raw material and shipping costs, primarily influenced by the Middle East conflict. This forward-looking caution could have weighed on investor sentiment.
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1. Macroeconomic headwinds created a subdued growth environment for the global chemical industry. Global chemical production was projected to expand at a muted pace of approximately 1.9–2.0% in 2026, reflecting persistent demand pressures from sectors like automotive and construction. The industry also faced continued overcapacity and elevated energy and input costs, which impacted overall market conditions for Quaker Houghton.
2. Management warned of anticipated near-term gross margin pressure for Q2 2026. Despite Q1 2026 gross margin improvement, the company forecasted a decline in Q2 gross margins by roughly 200–300 basis points compared to Q1, attributing this to expected higher raw material and shipping costs, primarily influenced by the Middle East conflict. This forward-looking caution could have weighed on investor sentiment.
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Stock Movement Drivers
Fundamental Drivers
The -7.4% change in KWR stock from 1/31/2026 to 5/24/2026 was primarily driven by a -10.5% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5242026 | Change |
|---|---|---|---|
| Stock Price ($) | 153.14 | 141.84 | -7.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,864 | 1,926 | 3.3% |
| P/S Multiple | 1.4 | 1.3 | -10.5% |
| Shares Outstanding (Mil) | 17 | 17 | 0.2% |
| Cumulative Contribution | -7.4% |
Market Drivers
1/31/2026 to 5/24/2026| Return | Correlation | |
|---|---|---|
| KWR | -7.4% | |
| Market (SPY) | 8.1% | 34.5% |
| Sector (XLB) | 2.5% | 48.6% |
Fundamental Drivers
The 2.8% change in KWR stock from 10/31/2025 to 5/24/2026 was primarily driven by a 3.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 5242026 | Change |
|---|---|---|---|
| Stock Price ($) | 137.91 | 141.84 | 2.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,864 | 1,926 | 3.3% |
| P/S Multiple | 1.3 | 1.3 | -0.7% |
| Shares Outstanding (Mil) | 17 | 17 | 0.2% |
| Cumulative Contribution | 2.8% |
Market Drivers
10/31/2025 to 5/24/2026| Return | Correlation | |
|---|---|---|
| KWR | 2.8% | |
| Market (SPY) | 9.9% | 42.0% |
| Sector (XLB) | 18.5% | 55.8% |
Fundamental Drivers
The 35.9% change in KWR stock from 4/30/2025 to 5/24/2026 was primarily driven by a 3537.1% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5242026 | Change |
|---|---|---|---|
| Stock Price ($) | 104.35 | 141.84 | 35.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,840 | 1,926 | 4.7% |
| Net Income Margin (%) | 6.3% | 0.2% | -96.5% |
| P/E Multiple | 15.9 | 577.0 | 3537.1% |
| Shares Outstanding (Mil) | 18 | 17 | 2.4% |
| Cumulative Contribution | 35.9% |
Market Drivers
4/30/2025 to 5/24/2026| Return | Correlation | |
|---|---|---|
| KWR | 35.9% | |
| Market (SPY) | 36.0% | 41.8% |
| Sector (XLB) | 22.2% | 58.3% |
Fundamental Drivers
The -21.0% change in KWR stock from 4/30/2023 to 5/24/2026 was primarily driven by a -22.7% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5242026 | Change |
|---|---|---|---|
| Stock Price ($) | 179.53 | 141.84 | -21.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,944 | 1,926 | -0.9% |
| P/S Multiple | 1.6 | 1.3 | -22.7% |
| Shares Outstanding (Mil) | 18 | 17 | 3.1% |
| Cumulative Contribution | -21.0% |
Market Drivers
4/30/2023 to 5/24/2026| Return | Correlation | |
|---|---|---|
| KWR | -21.0% | |
| Market (SPY) | 86.3% | 50.5% |
| Sector (XLB) | 32.4% | 61.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KWR Return | -8% | -27% | 29% | -33% | -1% | 2% | -42% |
| Peers Return | 35% | -34% | 30% | 10% | -4% | -14% | 5% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| KWR Win Rate | 58% | 33% | 58% | 33% | 50% | 60% | |
| Peers Win Rate | 71% | 38% | 52% | 54% | 42% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| KWR Max Drawdown | -26% | -45% | -35% | -35% | -33% | -36% | |
| Peers Max Drawdown | -14% | -42% | -20% | -15% | -22% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BCPC, AVNT, TSEOF, SHW, ECL. See KWR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/22/2026 (YTD)
How Low Can It Go
| Event | KWR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -32.1% | -18.8% |
| % Gain to Breakeven | 47.2% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -28.7% | -9.5% |
| % Gain to Breakeven | 40.2% | 10.5% |
| Time to Breakeven | 47 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.8% | -6.7% |
| % Gain to Breakeven | 16.0% | 7.1% |
| Time to Breakeven | 49 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.3% | -33.7% |
| % Gain to Breakeven | 64.8% | 50.9% |
| Time to Breakeven | 65 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -17.0% | -19.2% |
| % Gain to Breakeven | 20.5% | 23.8% |
| Time to Breakeven | 38 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.7% | -12.2% |
| % Gain to Breakeven | 26.2% | 13.9% |
| Time to Breakeven | 101 days | 62 days |
In The Past
Quaker Houghton's stock fell -32.1% during the 2025 US Tariff Shock. Such a loss loss requires a 47.2% gain to breakeven.
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| Event | KWR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -32.1% | -18.8% |
| % Gain to Breakeven | 47.2% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -28.7% | -9.5% |
| % Gain to Breakeven | 40.2% | 10.5% |
| Time to Breakeven | 47 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -39.3% | -33.7% |
| % Gain to Breakeven | 64.8% | 50.9% |
| Time to Breakeven | 65 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.7% | -12.2% |
| % Gain to Breakeven | 26.2% | 13.9% |
| Time to Breakeven | 101 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -43.5% | -17.9% |
| % Gain to Breakeven | 77.1% | 21.8% |
| Time to Breakeven | 101 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -32.9% | -15.4% |
| % Gain to Breakeven | 49.0% | 18.2% |
| Time to Breakeven | 52 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -76.7% | -53.4% |
| % Gain to Breakeven | 329.1% | 114.4% |
| Time to Breakeven | 147 days | 1085 days |
In The Past
Quaker Houghton's stock fell -32.1% during the 2025 US Tariff Shock. Such a loss loss requires a 47.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Quaker Houghton (KWR)
Quaker Chemical Corporation develops, produces, and markets various formulated chemical specialty products for a range of heavy industrial and manufacturing applications. The company operates through four segments: Americas; Europe, Middle East, and Africa; Asia/Pacific; and Global Specialty Businesses. It offers metal removal fluids, cleaning fluids, corrosion inhibitors, metal drawing and forming fluids, die cast mold releases, heat treatment and quenchants, metal forging fluids, hydraulic fluids, specialty greases, metal finishing fluids, offshore sub-sea energy control fluids, rolling lubricants, rod and wire drawing fluids, and surface treatment chemicals. The company also provides chemical management services. It serves steel, aluminum, automotive, aerospace, offshore, can, mining, and metalworking companies. The company was formerly known as Quaker Chemical Products Corporation and changed its name to Quaker Chemical Corporation in August 1962. Quaker Chemical Corporation was founded in 1918 and is headquartered in Conshohocken, Pennsylvania.
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Here are 1-3 brief analogies for Quaker Houghton (KWR):
- Like 3M, but focused on specialized fluids and chemicals essential for heavy industry.
- The Ecolab for manufacturing plants, providing essential chemical solutions and services for smooth operations.
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- Metal Removal Fluids: Chemicals used in machining and grinding processes to cool, lubricate, and flush away chips.
- Cleaning Fluids: Industrial solutions designed to remove contaminants from metal surfaces and components.
- Corrosion Inhibitors: Substances added to fluids or applied to surfaces to prevent or slow down the degradation of metals due to corrosion.
- Metal Drawing and Forming Fluids: Lubricants and coolants critical for shaping metals through processes like drawing, stamping, and bending.
- Die Cast Mold Releases: Specialty coatings applied to molds to facilitate the easy and clean separation of finished parts.
- Heat Treatment and Quenchants: Fluids used to rapidly cool metals during heat treatment processes to achieve desired material properties.
- Metal Forging Fluids: Lubricants applied during the metal forging process to reduce friction, improve material flow, and extend die life.
- Hydraulic Fluids: Specialized liquids that transmit power in hydraulic systems, providing lubrication and heat transfer.
- Specialty Greases: Advanced lubricating greases formulated for specific, demanding industrial applications.
- Metal Finishing Fluids: Chemicals used to improve the surface appearance, corrosion resistance, or other properties of metal parts after manufacturing.
- Offshore Sub-Sea Energy Control Fluids: Highly specialized fluids used in sub-sea equipment for controlling operations in offshore oil and gas exploration.
- Rolling Lubricants: Fluids used in metal rolling mills to reduce friction between the work rolls and the metal strip, improving surface quality.
- Rod and Wire Drawing Fluids: Lubricants specifically formulated to aid in the drawing of metal rods and wires through dies, reducing friction and wear.
- Surface Treatment Chemicals: Chemicals applied to material surfaces to enhance their functional properties, such as adhesion, wear resistance, or appearance.
- Chemical Management Services: Comprehensive services that help industrial clients optimize the purchase, use, and disposal of process chemicals.
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Quaker Houghton (KWR) primarily sells its products and services to other companies. Based on the provided description, its major customers operate in the following industries:
- Steel companies
- Aluminum companies
- Automotive companies
- Aerospace companies
- Offshore (e.g., oil and gas) companies
- Can (packaging) companies
- Mining companies
- Metalworking companies
The background information lists categories of companies served rather than specific customer company names, so individual public company symbols for customers cannot be provided.
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Joseph A. Berquist
Chief Executive Officer and President
Joseph A. Berquist was appointed Chief Executive Officer and President of Quaker Houghton in November 2024 and also joined the Board of Directors at that time. He has been with Quaker Houghton since 1997, holding various leadership positions including Executive Vice President and Chief Commercial Officer (January 2023 - November 2024), and Executive Vice President, Chief Strategy Officer, and Managing Director, Global Specialty Businesses (September 2021 - December 2022).
Tom Coler
Executive Vice President, Chief Financial Officer
Tom Coler joined Quaker Houghton as Executive Vice President, Chief Financial Officer in June 2024. Prior to this role, he served as Executive Vice President and Chief Financial Officer at Savage Corporation from October 2022 to May 2024, a company described as a privately backed global supply chain and logistics service provider. Before Savage, he held the position of Vice President, Finance and Chief Financial Officer for the Health, Hygiene & Consumables business unit at H.B. Fuller Corporation from September 2019 to October 2022.
Michael F. Barry
Chairman of the Board
Michael F. Barry serves as the non-executive Chairman of the Board of Quaker Houghton, a role he assumed in January 2022 after his retirement as CEO at the end of 2021. He previously served as Chief Executive Officer and President from October 2008 to November 2021, and as Chairman of the Board since May 2009. Mr. Barry also held the position of Chief Financial Officer from 1998 to 2004. During his tenure as CEO, he led the combination of Quaker Chemical and Houghton International in 2019. He has served as a director for Rogers Corporation and Arcadium Lithium plc, and was elected to the FMC Corporation Board of Directors in February 2026.
Jeewat Bijlani
Executive Vice President, Global Specialty and Chief Growth Officer
Jeewat Bijlani was named Executive Vice President, Global Specialty and Chief Growth Officer effective March 1, 2025. He joined Quaker Houghton in August 2019. Before the combination, Mr. Bijlani was with Houghton International from 2011 until July 2019, where he served as President, Americas and Global Strategic Businesses. Prior to joining Houghton, he was a Director in the Private Equity Group at Celerant Consulting, where he was involved in strategic and business transformation engagements within the Chemicals and Manufacturing sectors.
Robert T. Traub
Senior Vice President, General Counsel & Corporate Secretary
Robert T. Traub has served as Senior Vice President, General Counsel and Corporate Secretary since August 2019. He joined Quaker Chemical in 2000 and played a key role in facilitating the merger of Quaker Chemical and Houghton International, which concluded in August 2019.
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The key risks to Quaker Houghton (KWR) primarily stem from its exposure to cyclical industrial markets, the volatility of raw material costs, and the broad spectrum of global economic and political uncertainties.
- Volatility of Raw Material Costs: Quaker Houghton's profitability is significantly affected by fluctuations in the prices of its raw materials, many of which are commodity-based and linked to crude oil and natural gas prices. The company may face challenges in fully passing on increased raw material costs to customers, potentially leading to margin compression or a loss of sales volume if customers resist price increases.
- Exposure to Global Economic and Political Uncertainties: Quaker Houghton serves heavy industrial and manufacturing sectors such as steel, aluminum, automotive, and aerospace, which are inherently cyclical. Economic downturns, inflationary pressures, high interest rates, adverse trade policies, tariffs, and geopolitical events can lead to reduced demand for their customers' products, subsequently lowering demand for Quaker Houghton's industrial process fluids. These factors can also disrupt the company's supply chain and impact raw material costs.
- Regulatory and Environmental Compliance Risks: As a global chemical company, Quaker Houghton is subject to extensive and evolving environmental, health, and safety regulations across the numerous jurisdictions in which it operates. Changes in these regulations, or failures to comply, could result in increased operating costs, significant expenditures for compliance, required product reformulations, or limitations on market access for certain products.
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The increasing adoption of additive manufacturing (3D printing) in industries like automotive, aerospace, and general metalworking, which could reduce the demand for traditional metal processing fluids such as metal removal fluids, drawing and forming fluids, die cast mold releases, metal forging fluids, and rolling lubricants.
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Quaker Houghton (KWR) operates in several addressable markets for its diverse range of chemical specialty products and services. The market sizes for their main products and services are outlined below:
- Metalworking Fluids: The global metalworking fluids market was valued at USD 13.6 billion in 2025 and is projected to reach USD 25.7 billion by 2035, growing at a compound annual growth rate (CAGR) of 6.7%. Another estimate places the global market size at USD 12.50 billion in 2024, expected to reach USD 20.07 billion by 2032 with a CAGR of 5.4%. The Asia Pacific region is a dominant market for metalworking fluids, accounting for approximately 44.8% of the global market value in 2025.
- Industrial Greases (including Specialty Greases): The global industrial greases market is projected to be valued at US$ 6.3 billion in 2026 and is anticipated to reach US$ 8.5 billion by 2033, with a CAGR of 4.4%. Another report estimates the global grease market size was valued at USD 6.85 billion in 2025 and is projected to grow to USD 10.39 billion by 2034 at a CAGR of 4.60%. Asia Pacific is a significant market, expected to hold a 39.9% share in the industrial greases market in 2025.
- Rolling Lubricants (including Metal Rolling Lubricants and Rod and Wire Drawing Fluids): The global rolling lubricants market size is expected to be valued at US$15.1 billion in 2025 and is projected to reach US$22.17 billion by 2032, growing at a CAGR of 5.6%. For cold rolling lubricants specifically, the global market size was estimated at USD 3.1 billion in 2024 and is anticipated to expand to USD 5.4 billion by 2034, with a CAGR of approximately 5.7%. The Asia Pacific region is expected to hold the largest market share for cold rolling oils/lubricants.
- Heat Treatment and Quenchants (represented by Heat Transfer Fluids and Thermic Fluids): The global heat transfer fluids market was valued at USD 11.79 billion in 2025 and is set to exceed USD 17.96 billion by 2035, expanding at a CAGR of over 4.3%. Similarly, the global thermic fluids market size was valued at USD 11.06 billion in 2023 and is projected to reach USD 14.23 billion by 2030, growing at a CAGR of 3.7%. The Asia Pacific region held the largest revenue share in the global thermic fluids market in 2023.
- Hydraulic Fluids (including Offshore Sub-Sea Energy Control Fluids): The global hydraulic fluids market size was valued at USD 9.5 billion in 2025 and is set to exceed USD 14.2 billion by 2035, registering over a 4.1% CAGR. Another report indicates the global hydraulic fluids market size was estimated at USD 9,351.8 million in 2025 and is expected to reach USD 14,481.6 million by 2033, growing at a CAGR of 5.7%. The broader global subsea and offshore services market was calculated at USD 15.56 billion in 2024 and is predicted to increase to approximately USD 27.97 billion by 2034. Asia Pacific is projected to command a substantial 59% revenue share of the hydraulic fluids market by 2035.
- Metal Forging Fluids (represented by Metal Forming Lubricants and Forging Lubricants): The global metal forming lubricant market size was valued at USD 188 million in 2024 and is projected to grow to USD 283 million by 2032, exhibiting a CAGR of 6.2%. The global forging lubricants market size is likely to value US$ 892.2 million in 2025 and is projected to reach US$ 1,306.5 million by 2032, growing at a CAGR of 5.6%. North America leads the forging lubricants market with approximately 35% share, while Asia Pacific is the fastest-growing region.
- Chemical Management Services: The global chemical management services market was estimated at USD 4.31 billion in 2023 and is projected to reach USD 6.14 billion by 2030, growing at a CAGR of 5.4%. Another estimate places the global market at US$4.4 billion in 2024, expected to reach US$5.7 billion by 2030, with a CAGR of 4.2%. North America dominated the chemical management services market with a revenue share of 33.61% in 2023 and leads the global market with an estimated 45% share.
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The following are 3-5 expected drivers of future revenue growth for Quaker Houghton (KWR) over the next 2-3 years:
- Strategic Acquisitions and Global Expansion: Quaker Houghton's strategy of acquiring companies, such as CSI, Dipsol, and Natech, has consistently contributed to sales growth by expanding product offerings and strengthening its global presence. This is particularly notable in the Asia/Pacific region, where acquisitions have driven significant growth. The company's operations span over 25 countries, allowing for continued expansion into diverse industrial markets.
- New Business Wins and Market Share Gains: The company has a demonstrated track record of securing new business, which contributes to organic sales volume growth across all its geographic segments. Management has expressed confidence that ongoing new business development will be a key factor in delivering future revenue and EBITDA growth.
- Innovation and Advanced Product Development: Quaker Houghton is leveraging its research and development capabilities to introduce new and advanced product technologies. A significant example is the launch of new automation technologies within its QH FLUID INTELLIGENCE™ platform, including QH FLUIDCONTROL™ XMS systems and QH FLUIDMONITOR™ GQ. These solutions are designed to enhance fluid management in manufacturing operations across various industries, creating new revenue streams.
- Sustainable Solutions and Eco-Friendly Products: With a growing industry emphasis on environmental responsibility, Quaker Houghton's commitment to sustainability, embodied in its "See Beyond™" strategy and portfolio, positions it to capitalize on the demand for eco-friendly process fluids. Innovating and marketing sustainable products can attract environmentally conscious customers and foster new revenue opportunities.
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Share Repurchases
- Quaker Houghton authorized a new share repurchase program in February 2024, allowing for the repurchase of up to $150 million of common stock.
- In 2025, the company repurchased 364,797 shares for approximately $41.5 million.
- During the second quarter of 2025, share repurchases totaled $32.7 million.
Outbound Investments
- In April 2025, Quaker Houghton completed the acquisition of Dipsol Chemicals Co., Ltd., a supplier of surface treatment and plating solutions, for approximately $153 million (23 billion JPY).
- The company completed three strategic acquisitions in 2025, including Dipsol and Natech, Ltd., which collectively added approximately $95 million in annualized revenue and contributed about 6% to consolidated revenue in the fourth quarter of 2025.
- In 2024, Quaker Houghton invested in its business by acquiring two companies that complement its global portfolio of products and services.
Capital Expenditures
- As of the latest twelve months ending August 2, 2025, Quaker Houghton's capital expenditure was $6.16 million.
- The company's capital expenditure peaked in 2022.
- Since 2018, capital expenditure has decreased by 52%, with the last twelve months (LTM) showing a 78% decline.
Latest Trefis Analyses
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| 07312025 | KWR | Quaker Houghton | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 36.3% | 20.1% | 0.0% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 151.80 |
| Mkt Cap | 4.2 |
| Rev LTM | 3,098 |
| Op Inc LTM | 256 |
| FCF LTM | 191 |
| FCF 3Y Avg | 153 |
| CFO LTM | 269 |
| CFO 3Y Avg | 223 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.4% |
| Rev Chg 3Y Avg | 0.7% |
| Rev Chg Q | 7.4% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | 6.4% |
| Op Inc Chg 3Y Avg | 11.0% |
| Op Mgn LTM | 12.6% |
| Op Mgn 3Y Avg | 13.2% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 12.5% |
| CFO/Rev 3Y Avg | 12.4% |
| FCF/Rev LTM | 8.8% |
| FCF/Rev 3Y Avg | 9.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.2 |
| P/S | 2.2 |
| P/Op Inc | 16.9 |
| P/EBIT | 22.0 |
| P/E | 30.9 |
| P/CFO | 19.0 |
| Total Yield | 3.8% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 3.0% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -7.6% |
| 3M Rtn | -17.4% |
| 6M Rtn | -0.3% |
| 12M Rtn | -2.3% |
| 3Y Rtn | 15.2% |
| 1M Excs Rtn | -13.0% |
| 3M Excs Rtn | -25.9% |
| 6M Excs Rtn | -10.7% |
| 12M Excs Rtn | -30.8% |
| 3Y Excs Rtn | -66.9% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $141.84 | |
| Market Cap ($ Bil) | 2.5 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -21.1% | |
| 50 Days | 200 Days | |
| DMA Price | $131.91 | $138.78 |
| DMA Trend | up | down |
| Distance from DMA | 7.5% | 2.2% |
| 3M | 1YR | |
| Volatility | 43.9% | 40.9% |
| Downside Capture | 236.61 | 139.04 |
| Upside Capture | 92.18 | 131.61 |
| Correlation (SPY) | 44.3% | 40.6% |
KWR Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.94 | 1.28 | 0.77 | 1.23 | 1.32 | 1.22 |
| Up Beta | 0.98 | 0.81 | 0.67 | 0.94 | 1.51 | 1.38 |
| Down Beta | -3.90 | 1.54 | 1.72 | 1.76 | 1.38 | 1.15 |
| Up Capture | 90% | 111% | 34% | 125% | 128% | 86% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 19 | 30 | 59 | 118 | 357 |
| Down Capture | -11% | 167% | 77% | 110% | 114% | 107% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 9 | 23 | 33 | 65 | 133 | 393 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KWR | |
|---|---|---|---|---|
| KWR | 38.5% | 41.0% | 0.89 | - |
| Sector ETF (XLB) | 19.4% | 16.8% | 0.88 | 58.3% |
| Equity (SPY) | 29.5% | 12.0% | 1.86 | 40.4% |
| Gold (GLD) | 35.5% | 26.8% | 1.11 | 9.2% |
| Commodities (DBC) | 42.9% | 18.7% | 1.77 | -21.8% |
| Real Estate (VNQ) | 15.2% | 13.1% | 0.82 | 45.9% |
| Bitcoin (BTCUSD) | -31.3% | 41.8% | -0.78 | 19.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KWR | |
|---|---|---|---|---|
| KWR | -8.4% | 39.2% | -0.12 | - |
| Sector ETF (XLB) | 4.6% | 18.9% | 0.14 | 62.3% |
| Equity (SPY) | 14.0% | 17.0% | 0.64 | 56.6% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 7.5% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 11.5% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 49.8% |
| Bitcoin (BTCUSD) | 11.6% | 55.3% | 0.41 | 23.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KWR | |
|---|---|---|---|---|
| KWR | 6.6% | 37.4% | 0.28 | - |
| Sector ETF (XLB) | 10.3% | 20.6% | 0.45 | 63.9% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 59.2% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 4.9% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 19.9% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 49.7% |
| Bitcoin (BTCUSD) | 66.7% | 66.9% | 1.06 | 14.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/23/2026 | -6.9% | -14.2% | -28.6% |
| 10/30/2025 | 10.5% | 4.9% | 7.3% |
| 7/31/2025 | 3.1% | 10.4% | 26.8% |
| 2/24/2025 | 2.6% | -5.2% | -6.2% |
| 10/31/2024 | 6.3% | 12.1% | 5.6% |
| 8/5/2024 | -2.6% | -3.9% | 0.6% |
| 2/29/2024 | -1.2% | -1.4% | 1.1% |
| 11/2/2023 | 11.2% | 9.8% | 28.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 13 |
| # Negative | 8 | 10 | 9 |
| Median Positive | 5.1% | 10.6% | 7.3% |
| Median Negative | -4.5% | -6.6% | -6.2% |
| Max Positive | 22.2% | 25.3% | 28.4% |
| Max Negative | -7.4% | -14.2% | -28.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Gross Margin Improvement | |||||||
| 2026 Revenue Growth | |||||||
| 2026 Adjusted EBITDA Growth | |||||||
Prior: Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue Growth | |||||||
| Q4 2025 Earnings Growth | |||||||
| 2026 Run-rate cost savings | 20.00 Mil | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Berquist, Joseph A | CEO and President | Direct | Buy | 5132025 | 103.62 | 482 | 49,944 | 1,268,604 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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