NewMarket (NEU)
Market Price (4/23/2026): $641.34 | Market Cap: $6.0 BilSector: Materials | Industry: Specialty Chemicals
NewMarket (NEU)
Market Price (4/23/2026): $641.34Market Cap: $6.0 BilSector: MaterialsIndustry: Specialty Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8%, FCF Yield is 8.2% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% Low stock price volatilityVol 12M is 30% Megatrend and thematic driversMegatrends include Advanced Materials, Electrification of Everything, and Renewable Energy Transition. Themes include Specialty Chemicals for Performance, Show more. | Weak multi-year price returns2Y Excs Rtn is -28% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.4%, Rev Chg QQuarterly Revenue Change % is -2.9% Key risksNEU key risks include [1] declining shipments in its primary petroleum additives business, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8%, FCF Yield is 8.2% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Advanced Materials, Electrification of Everything, and Renewable Energy Transition. Themes include Specialty Chemicals for Performance, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -28% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.4%, Rev Chg QQuarterly Revenue Change % is -2.9% |
| Key risksNEU key risks include [1] declining shipments in its primary petroleum additives business, Show more. |
Qualitative Assessment
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NewMarket (NEU) stock has lost about 5% since 12/31/2025 because of the following key factors:
1. Decline in Net Income and Earnings Per Share: NewMarket reported a decrease in net income and earnings per share for both Q4 2025 and Q1 2026. Net income for Q4 2025 was $81.3 million ($8.65 per share), down from $110.7 million ($11.56 per share) in Q4 2024, primarily due to a higher effective income tax rate. For Q1 2026, net income was $118.1 million ($12.62 per share), a slight decline from $125.9 million ($13.26 per share) in Q1 2025.
2. Weakness in Petroleum Additives Segment: The company's core petroleum additives segment experienced decreased sales and operating profit. In Q4 2025, petroleum additives sales fell to $585.1 million from $626.1 million in Q4 2024, with operating profit dropping due to a 6% decline in shipments and lower selling prices. This trend continued into Q1 2026, with petroleum additives net sales at $609.8 million, down from $645.6 million, largely driven by a 7% shipment decline from softer markets and a strategic reduction in low-margin business.
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1. Decline in Net Income and Earnings Per Share: NewMarket reported a decrease in net income and earnings per share for both Q4 2025 and Q1 2026. Net income for Q4 2025 was $81.3 million ($8.65 per share), down from $110.7 million ($11.56 per share) in Q4 2024, primarily due to a higher effective income tax rate. For Q1 2026, net income was $118.1 million ($12.62 per share), a slight decline from $125.9 million ($13.26 per share) in Q1 2025.
2. Weakness in Petroleum Additives Segment: The company's core petroleum additives segment experienced decreased sales and operating profit. In Q4 2025, petroleum additives sales fell to $585.1 million from $626.1 million in Q4 2024, with operating profit dropping due to a 6% decline in shipments and lower selling prices. This trend continued into Q1 2026, with petroleum additives net sales at $609.8 million, down from $645.6 million, largely driven by a 7% shipment decline from softer markets and a strategic reduction in low-margin business.
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Stock Movement Drivers
Fundamental Drivers
The -6.2% change in NEU stock from 12/31/2025 to 4/22/2026 was primarily driven by a -5.9% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 4222026 | Change |
|---|---|---|---|
| Stock Price ($) | 683.73 | 641.60 | -6.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,744 | 2,725 | -0.7% |
| Net Income Margin (%) | 16.3% | 15.4% | -5.9% |
| P/E Multiple | 14.3 | 14.3 | 0.5% |
| Shares Outstanding (Mil) | 9 | 9 | 0.0% |
| Cumulative Contribution | -6.2% |
Market Drivers
12/31/2025 to 4/22/2026| Return | Correlation | |
|---|---|---|
| NEU | -6.2% | |
| Market (SPY) | -5.4% | 27.1% |
| Sector (XLB) | 14.3% | 28.1% |
Fundamental Drivers
The -21.8% change in NEU stock from 9/30/2025 to 4/22/2026 was primarily driven by a -11.1% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 4222026 | Change |
|---|---|---|---|
| Stock Price ($) | 820.67 | 641.60 | -21.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,779 | 2,725 | -1.9% |
| Net Income Margin (%) | 17.3% | 15.4% | -11.1% |
| P/E Multiple | 16.0 | 14.3 | -10.3% |
| Shares Outstanding (Mil) | 9 | 9 | 0.0% |
| Cumulative Contribution | -21.8% |
Market Drivers
9/30/2025 to 4/22/2026| Return | Correlation | |
|---|---|---|
| NEU | -21.8% | |
| Market (SPY) | -2.9% | 25.6% |
| Sector (XLB) | 16.3% | 30.6% |
Fundamental Drivers
The 15.2% change in NEU stock from 3/31/2025 to 4/22/2026 was primarily driven by a 24.8% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4222026 | Change |
|---|---|---|---|
| Stock Price ($) | 557.08 | 641.60 | 15.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,787 | 2,725 | -2.2% |
| Net Income Margin (%) | 16.6% | 15.4% | -7.4% |
| P/E Multiple | 11.5 | 14.3 | 24.8% |
| Shares Outstanding (Mil) | 10 | 9 | 1.9% |
| Cumulative Contribution | 15.2% |
Market Drivers
3/31/2025 to 4/22/2026| Return | Correlation | |
|---|---|---|
| NEU | 15.2% | |
| Market (SPY) | 16.3% | 33.2% |
| Sector (XLB) | 22.4% | 38.5% |
Fundamental Drivers
The 85.6% change in NEU stock from 3/31/2023 to 4/22/2026 was primarily driven by a 52.0% change in the company's Net Income Margin (%).| (LTM values as of) | 3312023 | 4222026 | Change |
|---|---|---|---|
| Stock Price ($) | 345.64 | 641.60 | 85.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,765 | 2,725 | -1.4% |
| Net Income Margin (%) | 10.1% | 15.4% | 52.0% |
| P/E Multiple | 12.1 | 14.3 | 19.0% |
| Shares Outstanding (Mil) | 10 | 9 | 4.1% |
| Cumulative Contribution | 85.6% |
Market Drivers
3/31/2023 to 4/22/2026| Return | Correlation | |
|---|---|---|
| NEU | 85.6% | |
| Market (SPY) | 63.3% | 33.7% |
| Sector (XLB) | 35.7% | 40.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NEU Return | -12% | -7% | 79% | -1% | 32% | -6% | 80% |
| Peers Return | 19% | -41% | 11% | 5% | 7% | 11% | -3% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 3% | 88% |
Monthly Win Rates [3] | |||||||
| NEU Win Rate | 33% | 58% | 75% | 50% | 50% | 50% | |
| Peers Win Rate | 55% | 33% | 55% | 48% | 45% | 65% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NEU Max Drawdown | -24% | -17% | 0% | -6% | -9% | -15% | |
| Peers Max Drawdown | -7% | -50% | -25% | -33% | -23% | -5% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NGVT, GEVO, LOOP, SHW, ECL. See NEU 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 4/22/2026 (YTD)
How Low Can It Go
| Event | NEU | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -34.3% | -25.4% |
| % Gain to Breakeven | 52.3% | 34.1% |
| Time to Breakeven | 311 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -32.4% | -33.9% |
| % Gain to Breakeven | 47.9% | 51.3% |
| Time to Breakeven | 1,316 days | 148 days |
| 2018 Correction | ||
| % Loss | -24.1% | -19.8% |
| % Gain to Breakeven | 31.8% | 24.7% |
| Time to Breakeven | 475 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -73.3% | -56.8% |
| % Gain to Breakeven | 275.1% | 131.3% |
| Time to Breakeven | 301 days | 1,480 days |
Compare to NGVT, GEVO, LOOP, SHW, ECL
In The Past
NewMarket's stock fell -34.3% during the 2022 Inflation Shock from a high on 1/6/2021. A -34.3% loss requires a 52.3% gain to breakeven.
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About NewMarket (NEU)
NewMarket Corporation, through its subsidiaries, engages in the petroleum additives business. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils. It also provides fuel additives that are used to enhance the oil refining process and the performance of gasoline, diesel, biofuels, and other fuels to industry, government, original equipment manufacturers, and individual customers. In addition, the company engages in the antiknock compounds business, as well as contracted manufacturing and services activities; and owns and manages a real property in Virginia. It operates in North America, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and India. NewMarket Corporation was founded in 1887 and is headquartered in Richmond, Virginia.
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NewMarket (NEU) is like:
The 'Intel Inside' for lubricants and fuels, providing the essential chemical additives that make engines and machinery run smoothly and efficiently.
Qualcomm for the chemical world, designing crucial performance-enhancing ingredients that power a wide range of automotive and industrial fluids.
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- Engine Oil Additives: Additives designed for passenger cars, motorcycles, heavy-duty commercial equipment, locomotives, and ocean-going vessel engines.
- Driveline Additives: Additives designed for products such as transmission fluids, axle fluids, and off-road powertrain fluids.
- Industrial Additives: Additives designed for industrial applications including hydraulic fluids, grease, industrial gear fluids, and turbine oils.
- Fuel Additives: Additives used to enhance the oil refining process and improve the performance of gasoline, diesel, biofuels, and other fuels.
- Antiknock Compounds: Products related to the business of manufacturing and supplying antiknock compounds.
- Contracted Manufacturing and Services: Activities involving manufacturing and other services provided under contract.
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NewMarket Corporation (NEU) primarily sells its petroleum additives to other companies (Business-to-Business or B2B) rather than directly to individual consumers.
Based on the company description, its major customers are broadly categorized as:
- Companies in the **lubricant manufacturing industry** that use NewMarket's additives to produce engine oils, transmission fluids, off-road powertrain and hydraulic systems fluids, gear oils, hydraulic oils, turbine oils, and other industrial lubricants.
- Companies in the **fuel refining and blending industry** that incorporate NewMarket's fuel additives to enhance the performance of gasoline, diesel, biofuels, and other fuels.
- **Original Equipment Manufacturers (OEMs)** that may specify or purchase additives for their engines, vehicles, and industrial machinery.
- **Government entities** and other large industrial customers.
The provided background information does not list the specific names of these customer companies.
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Thomas E. Gottwald, Chairman of the Board, President and Chief Executive OfficerThomas E. Gottwald joined NewMarket, the parent company of Afton Chemical and Ethyl, in 1984, working in its petroleum additives and former plastics businesses. He succeeded his father, Bruce Gottwald, as chairman of the board in 2014 and became president and CEO in 2004. He represents the third generation of his family to lead NewMarket, with the family's relationship with the company tracing back to 1918. His grandfather, Floyd Gottwald, led the acquisition of Ethyl Corporation by Albemarle Paper Manufacturing Company in 1962, a significant event in the company's history.
Timothy K. Fitzgerald, Vice President and Chief Financial Officer
Timothy K. Fitzgerald assumed the role of Vice President and Chief Financial Officer of NewMarket Corporation on January 1, 2025. He joined the company approximately 10 years prior to this appointment as Operations Finance Director and has over 20 years of experience in finance and accounting. He previously served as the company's Treasurer and Finance Director starting in January 2024.
Bruce R. Hazelgrove III, Executive Vice President, Chief Administrative Officer and Director
Bruce R. Hazelgrove III serves as Executive Vice President, Chief Administrative Officer, and a Director of NewMarket Corporation. He was elected to the board of directors.
Brian D. Paliotti, President, Afton Chemical Corporation
Brian D. Paliotti is the President of Afton Chemical Corporation, a subsidiary of NewMarket Corporation. He was appointed to this role following Regina Anne Harm's retirement at the end of 2022.
Bryce D. Jewett III, Executive Vice President and General Counsel
Bryce D. Jewett III was elected Executive Vice President and General Counsel of NewMarket Corporation, effective January 1, 2025. Prior to joining the company in 2020, he was a Partner at McGuireWoods LLP, where his practice focused on Mergers and Acquisitions.
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```htmlKey Risks to NewMarket Corporation (NEU)
- Market Softness and Decline in Petroleum Additives Shipments: NewMarket's primary business, petroleum additives, faces significant headwinds due to a softening market and declining shipments. This segment experienced a 4.6% decrease in shipments for the first nine months of 2025 and a 4.1% decline in the third quarter of 2025, leading to reduced operating profit due to lower product shipments and selling prices. The company's substantial reliance (95% in FY2024) on petroleum additives makes it particularly vulnerable to these market conditions.
- Regulatory and Environmental Risks: The company is exposed to substantial risks related to environmental concerns and evolving regulations. Some conventional additives used in the industry are considered harmful to the environment, potentially contaminating water and soil. Compliance with stringent environmental laws and potential liabilities for environmental remediation pose ongoing challenges. Furthermore, the use of specific metallic additives, such as methylcyclopentadienyl manganese tricarbonyl (MMT), raises health concerns and risks damaging vehicle engines and emission control equipment, leading to increased regulatory scrutiny.
- Raw Material Price Volatility, Supply Chain Disruptions, and Geopolitical Factors: NewMarket is subject to fluctuations in the prices and availability of raw materials, which can negatively impact profit margins. Global political and economic instability, including events like wars or natural disasters, can disrupt critical supply chains and escalate operational costs. The company's extensive international operations also expose it to geopolitical volatility, unfavorable changes in foreign exchange rates, and complex political, economic, and regulatory environments, with tariffs being a continuous concern.
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The global transition to electric vehicles (EVs) represents a clear emerging threat. As adoption of EVs increases, demand for traditional internal combustion engine (ICE) lubricants and fuels will decrease, directly impacting NewMarket's core business in lubricant and fuel additives for ICE applications.
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NewMarket Corporation participates in several addressable markets related to petroleum additives, lubricant additives, fuel additives, and antiknock compounds.
Petroleum Additives Market
The global market for petroleum additives was valued at approximately USD 27.7 billion in 2024 and is projected to reach USD 36.3 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 4.6% from 2024 to 2030. North America holds the largest share of the global petroleum additives market, followed by Asia Pacific and Europe. The U.S. market for petroleum additives was valued at USD 7.4 billion in 2024.
Lubricant Additives Market
The global lubricant additives market was valued at USD 18.9 billion in 2025 and is estimated to grow to USD 29.6 billion by 2034, with a CAGR of 5.1% from 2026 to 2034. Other estimates for the global lubricant additives market include USD 19.46 billion in 2025, projected to reach USD 28.33 billion by 2034, and USD 18.5 billion in 2023, anticipated to reach USD 27.7 billion by 2032. In 2025, Asia-Pacific was the largest regional market for lubricant additives, valued at USD 7.18 billion. North America's lubricant additives market reached USD 4.54 billion in 2025.
Fuel Additives Market
The global fuel additives market size was valued at USD 10.29 billion in 2025 and is projected to increase to USD 17.15 billion by 2034, growing at a CAGR of 5.90% during this forecast period. Another estimate places the global fuel additives market size at USD 9.53 billion in 2024, expected to grow to USD 16.41 billion by 2035. North America dominated the fuel additives market in 2025 with a 33.80% share, equating to a valuation of USD 3.47 billion. The U.S. fuel additives market is projected to reach USD 3.73 billion by 2032.
Antiknock Compounds Market
The global antiknock agent market was valued at USD 3.5 billion in 2023 and is expected to reach USD 5.4 billion by 2030, with a CAGR of 6.2%. Another source estimates the antiknock agents market size at USD 3.42 billion in 2025, with a projected growth to USD 4.46 billion by 2030. The global gasoline antiknock agent market was valued at USD 1,287.4 million in 2024 and is projected to reach USD 1,887.6 million by 2032. Asia Pacific led the antiknock agents market with a 45.65% share in 2024. For gasoline antiknock agents specifically, Asia Pacific held the largest share at approximately 39% in 2024, with a value of USD 504.7 million.
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NewMarket Corporation (NEU) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Expansion in the Specialty Materials Segment through Acquisitions: NewMarket's strategic acquisitions of American Pacific Corporation (AMPAC) in January 2024 and Calca Solutions in October 2025 are significant drivers for the growth of its Specialty Materials segment. This segment has shown a substantial increase in sales and operating profit, with sales for the Specialty Materials segment reaching $182.5 million in 2025, notably higher than $141.2 million in 2024.
- Increased Shipments in the Petroleum Additives Segment: Despite some market softness and overall shipment declines in 2024 and 2025, NewMarket anticipates "continued strength" in its core petroleum additives segment. The company experienced a 1% increase in petroleum additives shipments in the second quarter of 2024 compared to the same period in 2023, and a small increase in lubricant additives shipments for the full year 2024. Recovery and growth in shipment volumes, particularly for lubricant additives, are expected to contribute to revenue.
- New Technology and Product Innovation in Petroleum Additives: NewMarket is focused on "technology-driven product offerings" and "investments in technology to support our customers." This includes the launch of new technologies across lubricant and fuel additive product lines, with advancements for passenger cars, commercial trucks, and renewable diesel applications, as seen in 2024 and early 2025. These innovations are vital for capturing new market opportunities and sustaining demand in its primary business.
- Strategic Focus on High-Margin Segments and Portfolio Optimization: The company is actively managing its portfolio by examining and reducing low-margin business to focus on "high-growth areas" and "portfolio profitability." This strategic shift, while potentially impacting overall shipment volumes in some lower-margin areas, aims to optimize the revenue mix towards more profitable products and segments, thereby driving higher quality and sustainable revenue growth.
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Share Repurchases
- NewMarket Corporation authorized a new share repurchase program in December 2024, allowing for the repurchase of up to $500 million of common stock through December 31, 2027. This program superseded a previous $500 million authorization from October 2021.
- The company repurchased $77 million of its common stock in 2025.
- For the first nine months of 2025, NewMarket repurchased $77.2 million of its common stock.
Share Issuance
- NewMarket's shares outstanding saw a decline over the past few years, with 0.009 billion shares outstanding at the end of 2025, a 1.38% decrease from 2024.
- Shares outstanding decreased by 0.29% in 2024 compared to 2023.
- In 2023, shares outstanding declined by 4.5% from 2022.
Outbound Investments
- NewMarket completed the acquisition of Calca Solutions, LLC on October 1, 2025, a producer of UltraPure and high-purity hydrazine for aerospace and defense.
- The company acquired American Pacific Corporation (AMPAC) in January 2024.
- Since 2024, NewMarket has committed approximately $1 billion to its Specialty Materials segment through the acquisitions of AMPAC and Calca, alongside investments to expand capacity at both operations.
Capital Expenditures
- Capital expenditures for NewMarket increased to $78 million in 2025.
- The company anticipates capital expenditures in 2026 to be between $100 million and $150 million.
- These investments are primarily focused on manufacturing and R&D infrastructure, technology, cost control, operational efficiency, and expanding production capabilities, including an investment of up to $100 million to expand AMPAC's ammonium perchlorate production.
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Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 171.76 |
| Mkt Cap | 4.3 |
| Rev LTM | 1,981 |
| Op Inc LTM | 407 |
| FCF LTM | 382 |
| FCF 3Y Avg | 317 |
| CFO LTM | 450 |
| CFO 3Y Avg | 388 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.1% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 5.2% |
| QoQ Delta Rev Chg LTM | 0.8% |
| Op Inc Chg LTM | 6.7% |
| Op Inc Chg 3Y Avg | 18.1% |
| Op Mgn LTM | 17.0% |
| Op Mgn 3Y Avg | 16.1% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 16.5% |
| CFO/Rev 3Y Avg | 15.9% |
| FCF/Rev LTM | 11.5% |
| FCF/Rev 3Y Avg | 10.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.3 |
| P/S | 3.1 |
| P/Op Inc | 10.5 |
| P/EBIT | -9.5 |
| P/E | 0.7 |
| P/CFO | 9.3 |
| Total Yield | -0.4% |
| Dividend Yield | 0.5% |
| FCF Yield 3Y Avg | 2.9% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.5% |
| 3M Rtn | -1.8% |
| 6M Rtn | -7.9% |
| 12M Rtn | 15.1% |
| 3Y Rtn | 53.4% |
| 1M Excs Rtn | -4.9% |
| 3M Excs Rtn | -5.6% |
| 6M Excs Rtn | -14.5% |
| 12M Excs Rtn | -20.3% |
| 3Y Excs Rtn | -17.6% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Petroleum additives | 2,690 | 2,754 | 2,344 | 2,002 | 2,176 |
| All other | 9 | 10 | 12 | 9 | 14 |
| Specialty materials | 0 | ||||
| Total | 2,698 | 2,765 | 2,356 | 2,011 | 2,190 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Petroleum additives | 514 | 378 | 281 | 333 | 359 |
| Specialty materials | 0 | ||||
| All other | -2 | -2 | -0 | -2 | |
| Total | 514 | 376 | 280 | 333 | 358 |
Price Behavior
Price Behavior
| Market Price | $641.60 | |
| Market Cap ($ Bil) | 6.0 | |
| First Trading Date | 08/06/1985 | |
| Distance from 52W High | -25.8% | |
| 50 Days | 200 Days | |
| DMA Price | $626.63 | $716.65 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 2.4% | -10.5% |
| 3M | 1YR | |
| Volatility | 38.8% | 30.2% |
| Downside Capture | 0.27 | 0.35 |
| Upside Capture | 97.10 | 71.32 |
| Correlation (SPY) | 27.8% | 26.2% |
NEU Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.33 | 0.98 | 0.92 | 0.75 | 0.54 | 0.58 |
| Up Beta | 0.16 | 0.48 | 1.34 | 0.51 | 0.57 | 0.67 |
| Down Beta | -0.50 | 1.37 | 1.12 | 0.39 | 0.31 | 0.37 |
| Up Capture | 104% | 101% | 57% | 62% | 63% | 42% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 13 | 24 | 35 | 68 | 143 | 403 |
| Down Capture | 36% | 88% | 92% | 121% | 77% | 81% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 9 | 18 | 28 | 58 | 109 | 346 |
[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 NEU | |
|---|---|---|---|---|
| NEU | 16.7% | 30.2% | 0.53 | - |
| Sector ETF (XLB) | 32.5% | 16.6% | 1.52 | 32.0% |
| Equity (SPY) | 26.7% | 12.5% | 1.77 | 26.8% |
| Gold (GLD) | 38.9% | 27.4% | 1.19 | 8.8% |
| Commodities (DBC) | 23.5% | 16.2% | 1.32 | 12.5% |
| Real Estate (VNQ) | 15.6% | 13.6% | 0.82 | 19.6% |
| Bitcoin (BTCUSD) | -12.8% | 42.6% | -0.21 | 13.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NEU | |
|---|---|---|---|---|
| NEU | 13.2% | 26.2% | 0.47 | - |
| Sector ETF (XLB) | 6.9% | 18.9% | 0.26 | 44.8% |
| Equity (SPY) | 10.5% | 17.1% | 0.48 | 39.3% |
| Gold (GLD) | 21.5% | 17.8% | 0.99 | 9.6% |
| Commodities (DBC) | 10.7% | 18.8% | 0.47 | 5.9% |
| Real Estate (VNQ) | 3.6% | 18.8% | 0.09 | 35.3% |
| Bitcoin (BTCUSD) | 3.8% | 56.4% | 0.29 | 15.5% |
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 NEU | |
|---|---|---|---|---|
| NEU | 6.9% | 24.8% | 0.28 | - |
| Sector ETF (XLB) | 10.7% | 20.6% | 0.46 | 47.9% |
| Equity (SPY) | 13.8% | 17.9% | 0.66 | 42.6% |
| Gold (GLD) | 13.9% | 15.9% | 0.73 | 6.5% |
| Commodities (DBC) | 8.1% | 17.6% | 0.38 | 10.2% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 35.6% |
| Bitcoin (BTCUSD) | 68.1% | 66.9% | 1.07 | 8.9% |
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 |
| 4/22/2026 | |||
| 2/11/2026 | -14.4% | -13.0% | -16.2% |
| 10/30/2025 | 2.7% | 2.1% | 0.7% |
| 7/30/2025 | 1.0% | 6.1% | 21.1% |
| 4/23/2025 | 5.4% | 6.8% | 12.3% |
| 2/3/2025 | 5.0% | 8.6% | 15.1% |
| 10/23/2024 | 4.2% | 2.5% | 3.4% |
| 7/29/2024 | 1.6% | -4.2% | -0.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 15 |
| # Negative | 10 | 11 | 9 |
| Median Positive | 4.6% | 6.1% | 8.9% |
| Median Negative | -6.0% | -4.2% | -7.0% |
| Max Positive | 9.2% | 11.6% | 21.1% |
| Max Negative | -14.4% | -13.0% | -16.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/31/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/15/2023 | 10-K |
| 09/30/2022 | 10/25/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Dividends | 3 | 9.1% | Higher New | Actual: 2.75 for Q4 2025 | |||
| 2026 Specialty Materials Capacity Expansion | |||||||
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.