Stepan (SCL)
Market Price (6/27/2026): $55.68 | Market Cap: $1.3 BilSector: Materials | Industry: Specialty Chemicals
Stepan (SCL)
Market Price (6/27/2026): $55.68Market Cap: $1.3 BilSector: MaterialsIndustry: Specialty Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldDividend Yield is 2.8% Low stock price volatilityVol 12M is 37% Megatrend and thematic driversMegatrends include Advanced Materials, Sustainable Consumption, and Sustainable & Green Buildings. Themes include Specialty Chemicals for Performance, Show more. | Weak multi-year price returns2Y Excs Rtn is -63%, 3Y Excs Rtn is -104% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.6% 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 -2.7% Key risksSCL key risks include [1] high susceptibility to volatile raw material and energy costs, Show more. |
| Attractive yieldDividend Yield is 2.8% |
| Low stock price volatilityVol 12M is 37% |
| Megatrend and thematic driversMegatrends include Advanced Materials, Sustainable Consumption, and Sustainable & Green Buildings. Themes include Specialty Chemicals for Performance, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -63%, 3Y Excs Rtn is -104% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.6% |
| 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 -2.7% |
| Key risksSCL key risks include [1] high susceptibility to volatile raw material and energy costs, Show more. |
Qualitative Assessment
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Updated on 6/26/2026
Stepan (SCL) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strategic Restructuring Plan "Project Catalyst" Provided a Positive Outlook.
Stepan Company announced "Project Catalyst" on February 23, 2026, an operational plan designed to achieve approximately $100 million in pre-tax savings over the next two years. This initiative involves optimizing Stepan's global manufacturing footprint through consolidation, including the closure of its Fieldsboro, NJ site and decommissioning select assets in Elwood, IL, and Stalybridge, UK. The company expects adjusted EBITDA growth in fiscal year 2026 as a result of these efficiency improvements.
2. Fiscal Q1 2026 Adjusted Earnings Surpassed Analyst Expectations.
On April 28, 2026, Stepan reported its fiscal Q1 2026 earnings, posting an adjusted EPS of $0.45. This figure exceeded analysts' consensus estimates, with some sources indicating a beat of $0.06 over a $0.39 estimate or a 114.29% positive surprise over a $0.21 estimate. While the company reported a net loss of $41.4 million, this was primarily due to a $65.4 million pre-tax restructuring charge related to Project Catalyst. Despite these charges, adjusted net income was $10.3 million, and organic sales volume remained flat, supported by strong demand in Crop Productivity, Oilfield, and Industrial Cleaning sectors.
Show more
Stepan (SCL) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strategic Restructuring Plan "Project Catalyst" Provided a Positive Outlook.
Stepan Company announced "Project Catalyst" on February 23, 2026, an operational plan designed to achieve approximately $100 million in pre-tax savings over the next two years. This initiative involves optimizing Stepan's global manufacturing footprint through consolidation, including the closure of its Fieldsboro, NJ site and decommissioning select assets in Elwood, IL, and Stalybridge, UK. The company expects adjusted EBITDA growth in fiscal year 2026 as a result of these efficiency improvements.
2. Fiscal Q1 2026 Adjusted Earnings Surpassed Analyst Expectations.
On April 28, 2026, Stepan reported its fiscal Q1 2026 earnings, posting an adjusted EPS of $0.45. This figure exceeded analysts' consensus estimates, with some sources indicating a beat of $0.06 over a $0.39 estimate or a 114.29% positive surprise over a $0.21 estimate. While the company reported a net loss of $41.4 million, this was primarily due to a $65.4 million pre-tax restructuring charge related to Project Catalyst. Despite these charges, adjusted net income was $10.3 million, and organic sales volume remained flat, supported by strong demand in Crop Productivity, Oilfield, and Industrial Cleaning sectors.
Show more
Updated on 6/26/2026
Stepan (SCL) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strategic Restructuring Plan "Project Catalyst" Provided a Positive Outlook.
Stepan Company announced "Project Catalyst" on February 23, 2026, an operational plan designed to achieve approximately $100 million in pre-tax savings over the next two years. This initiative involves optimizing Stepan's global manufacturing footprint through consolidation, including the closure of its Fieldsboro, NJ site and decommissioning select assets in Elwood, IL, and Stalybridge, UK. The company expects adjusted EBITDA growth in fiscal year 2026 as a result of these efficiency improvements.
2. Fiscal Q1 2026 Adjusted Earnings Surpassed Analyst Expectations.
On April 28, 2026, Stepan reported its fiscal Q1 2026 earnings, posting an adjusted EPS of $0.45. This figure exceeded analysts' consensus estimates, with some sources indicating a beat of $0.06 over a $0.39 estimate or a 114.29% positive surprise over a $0.21 estimate. While the company reported a net loss of $41.4 million, this was primarily due to a $65.4 million pre-tax restructuring charge related to Project Catalyst. Despite these charges, adjusted net income was $10.3 million, and organic sales volume remained flat, supported by strong demand in Crop Productivity, Oilfield, and Industrial Cleaning sectors.
3. Positive Analyst Sentiment and Upgraded Price Targets Indicated Future Growth Potential.
Stepan's stock benefited from a generally positive sentiment among financial analysts during this period. Multiple reports show a "Strong Buy" consensus rating from analysts, with a median price target of $75.00. This target suggests a substantial potential upside of approximately 40% from recent trading prices, reflecting analyst confidence in the company's future performance and strategic initiatives.
4. Sustained Shareholder Returns Through Consistent Dividend Increases.
On February 23, 2026, Stepan declared a quarterly cash dividend of $0.395 per share, payable on March 13, 2026. This marked the 58th consecutive year that the company has increased its cash dividend, demonstrating a long-standing commitment to returning value to shareholders and indicating financial stability.
Show less
Stepan (SCL) stock has gained about 10% since 2/28/2026 because of the following key factors:
1. Strategic Restructuring Plan "Project Catalyst" Provided a Positive Outlook.
Stepan Company announced "Project Catalyst" on February 23, 2026, an operational plan designed to achieve approximately $100 million in pre-tax savings over the next two years. This initiative involves optimizing Stepan's global manufacturing footprint through consolidation, including the closure of its Fieldsboro, NJ site and decommissioning select assets in Elwood, IL, and Stalybridge, UK. The company expects adjusted EBITDA growth in fiscal year 2026 as a result of these efficiency improvements.
2. Fiscal Q1 2026 Adjusted Earnings Surpassed Analyst Expectations.
On April 28, 2026, Stepan reported its fiscal Q1 2026 earnings, posting an adjusted EPS of $0.45. This figure exceeded analysts' consensus estimates, with some sources indicating a beat of $0.06 over a $0.39 estimate or a 114.29% positive surprise over a $0.21 estimate. While the company reported a net loss of $41.4 million, this was primarily due to a $65.4 million pre-tax restructuring charge related to Project Catalyst. Despite these charges, adjusted net income was $10.3 million, and organic sales volume remained flat, supported by strong demand in Crop Productivity, Oilfield, and Industrial Cleaning sectors.
3. Positive Analyst Sentiment and Upgraded Price Targets Indicated Future Growth Potential.
Stepan's stock benefited from a generally positive sentiment among financial analysts during this period. Multiple reports show a "Strong Buy" consensus rating from analysts, with a median price target of $75.00. This target suggests a substantial potential upside of approximately 40% from recent trading prices, reflecting analyst confidence in the company's future performance and strategic initiatives.
4. Sustained Shareholder Returns Through Consistent Dividend Increases.
On February 23, 2026, Stepan declared a quarterly cash dividend of $0.395 per share, payable on March 13, 2026. This marked the 58th consecutive year that the company has increased its cash dividend, demonstrating a long-standing commitment to returning value to shareholders and indicating financial stability.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 11.2% change in SCL stock from 2/28/2026 to 6/26/2026 was primarily driven by a 10.7% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6262026 | Change |
|---|---|---|---|
| Stock Price ($) | 50.12 | 55.71 | 11.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,332 | 2,343 | 0.5% |
| P/S Multiple | 0.5 | 0.5 | 10.7% |
| Shares Outstanding (Mil) | 23 | 23 | 0.0% |
| Cumulative Contribution | 11.2% |
Market Drivers
2/28/2026 to 6/26/2026| Return | Correlation | |
|---|---|---|
| SCL | 11.2% | |
| Market (SPY) | 6.6% | 44.5% |
| Sector (XLB) | -3.0% | 69.0% |
Fundamental Drivers
The 24.8% change in SCL stock from 11/30/2025 to 6/26/2026 was primarily driven by a 22.8% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6262026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.64 | 55.71 | 24.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,304 | 2,343 | 1.7% |
| P/S Multiple | 0.4 | 0.5 | 22.8% |
| Shares Outstanding (Mil) | 23 | 23 | -0.1% |
| Cumulative Contribution | 24.8% |
Market Drivers
11/30/2025 to 6/26/2026| Return | Correlation | |
|---|---|---|
| SCL | 24.8% | |
| Market (SPY) | 7.3% | 30.8% |
| Sector (XLB) | 16.5% | 46.8% |
Fundamental Drivers
The 5.9% change in SCL stock from 5/31/2025 to 6/26/2026 was primarily driven by a 5.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312025 | 6262026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.59 | 55.71 | 5.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,222 | 2,343 | 5.5% |
| P/S Multiple | 0.5 | 0.5 | 0.5% |
| Shares Outstanding (Mil) | 23 | 23 | -0.1% |
| Cumulative Contribution | 5.9% |
Market Drivers
5/31/2025 to 6/26/2026| Return | Correlation | |
|---|---|---|
| SCL | 5.9% | |
| Market (SPY) | 25.1% | 32.5% |
| Sector (XLB) | 21.9% | 54.7% |
Fundamental Drivers
The -34.9% change in SCL stock from 5/31/2023 to 6/26/2026 was primarily driven by a -23.2% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6262026 | Change |
|---|---|---|---|
| Stock Price ($) | 85.54 | 55.71 | -34.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,749 | 2,343 | -14.8% |
| P/S Multiple | 0.7 | 0.5 | -23.2% |
| Shares Outstanding (Mil) | 23 | 23 | -0.6% |
| Cumulative Contribution | -34.9% |
Market Drivers
5/31/2023 to 6/26/2026| Return | Correlation | |
|---|---|---|
| SCL | -34.9% | |
| Market (SPY) | 81.3% | 45.0% |
| Sector (XLB) | 45.9% | 60.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SCL Return | 5% | -13% | -10% | -30% | -25% | 19% | -48% |
| Peers Return | 22% | -19% | 20% | -23% | -36% | 21% | -29% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| SCL Win Rate | 50% | 42% | 50% | 42% | 33% | 67% | |
| Peers Win Rate | 55% | 52% | 45% | 38% | 35% | 63% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SCL Max Drawdown | -20% | -25% | -44% | -30% | -34% | -33% | |
| Peers Max Drawdown | -22% | -41% | -21% | -34% | -49% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HUN, DOW, LYB, EMN, CE. See SCL 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 6/26/2026 (YTD)
How Low Can It Go
| Event | SCL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.2% | -18.8% |
| % Gain to Breakeven | 37.3% | 23.1% |
| Time to Breakeven | 302 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -33.7% | -9.5% |
| % Gain to Breakeven | 50.8% | 10.5% |
| Time to Breakeven | 70 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.0% | -33.7% |
| % Gain to Breakeven | 42.9% | 50.9% |
| Time to Breakeven | 6 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -18.7% | -19.2% |
| % Gain to Breakeven | 23.0% | 23.8% |
| Time to Breakeven | 38 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -14.5% | -12.2% |
| % Gain to Breakeven | 16.9% | 13.9% |
| Time to Breakeven | 36 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -23.0% | -6.8% |
| % Gain to Breakeven | 29.9% | 7.3% |
| Time to Breakeven | 137 days | 15 days |
In The Past
Stepan's stock fell -27.2% during the 2025 US Tariff Shock. Such a loss loss requires a 37.3% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | SCL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.2% | -18.8% |
| % Gain to Breakeven | 37.3% | 23.1% |
| Time to Breakeven | 302 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -33.7% | -9.5% |
| % Gain to Breakeven | 50.8% | 10.5% |
| Time to Breakeven | 70 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.0% | -33.7% |
| % Gain to Breakeven | 42.9% | 50.9% |
| Time to Breakeven | 6 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -23.0% | -6.8% |
| % Gain to Breakeven | 29.9% | 7.3% |
| Time to Breakeven | 137 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -31.9% | -53.4% |
| % Gain to Breakeven | 46.8% | 114.4% |
| Time to Breakeven | 29 days | 1085 days |
In The Past
Stepan's stock fell -27.2% during the 2025 US Tariff Shock. Such a loss loss requires a 37.3% 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 Stepan (SCL)
Stepan Company (SCL) is a global manufacturer and supplier of specialty and intermediate chemicals, serving other manufacturers across diverse industries. Essentially, Stepan produces critical chemical ingredients that are foundational components in a wide variety of consumer and industrial end products.
The company operates through three key segments. Its Surfactants segment provides principal ingredients for consumer cleaning products like detergents, shampoos, and body washes, as well as industrial cleaning solutions, agricultural emulsifiers, and various industrial applications. The Polymers segment offers materials such as polyurethane polyols, vital for thermal insulation in construction, and base raw materials for coatings, adhesives, sealants, and elastomers (CASE), alongside resins and plasticizers used in construction materials, automotive, and other consumer goods. Lastly, the Specialty Products segment supplies flavors, emulsifiers, and solubilizers essential for food, nutritional supplement, and pharmaceutical applications, serving markets across the United States, Europe, Brazil, Mexico, and internationally.
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Here are 1-2 brief analogies for Stepan (SCL):
- Stepan is like the "Intel Inside" for a vast array of consumer and industrial products, supplying the essential chemical ingredients that go into items from laundry detergent and shampoo to thermal insulation and food additives.
- Think of Stepan as a super-diversified ingredient supplier, similar to a company like International Flavors & Fragrances (IFF), but instead of just flavors and fragrances, Stepan provides fundamental chemical ingredients for everything from household cleaners and construction materials to nutritional supplements and pharmaceuticals.
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- Surfactants: These are key ingredients in consumer and industrial cleaning products, fabric softeners, disinfectants, and various agricultural and industrial applications.
- Polyurethane Polyols: Used to produce rigid foam for thermal insulation in construction and as a base for coatings, adhesives, sealants, and elastomers.
- Polyester Resins: Offered in liquid and powdered forms, these are utilized in coatings, adhesives, sealants, and elastomers applications.
- Phthalic Anhydride: A chemical component used in resins and plasticizers for construction materials, automotive parts, and other consumer products.
- Specialty Products (Flavors, Emulsifiers, Solubilizers): These are ingredients for food, flavoring, nutritional supplements, and pharmaceutical applications.
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Stepan Company (SCL) sells primarily to other companies, specifically to other manufacturers.
The provided background information describes the types of industries and products that utilize Stepan's chemicals, but it does not identify the specific names of Stepan's major customer companies.
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Luis E. Rojo, President and Chief Executive Officer
Luis E. Rojo was appointed President and Chief Executive Officer of Stepan Company in October 2024. Prior to this role, he served as the Company's Vice President and Chief Financial Officer from April 2018 to October 2024. Before joining Stepan, Mr. Rojo had a 21-year career at Procter & Gamble Co., where he held increasingly senior finance leadership roles.
Ruben Velasquez, Vice President and Chief Financial Officer
Ruben Velasquez was appointed Vice President and Chief Financial Officer of Stepan Company, effective July 15, 2025. He joined Stepan from 3M Company, where he spent 19 years in various progressively senior finance roles. His most recent position at 3M was Vice President of Global Finance Transformation from 2022 to 2024. Mr. Velasquez also held roles such as Vice President Global Finance and CFO Manufacturing & Supply Chain Operations, and Vice President Global Finance and CFO Consumer Business at 3M, and served as Finance Director and Country CFO at 3M Russia and 3M Colombia. His finance career began at Ecopetrol in Colombia, where he held senior finance leadership roles, including Finance Director Corporate FP&A and Treasury, and Interim Vice President and Corporate Chief Financial Officer. He holds an MBA from Northwestern University and a BS in Industrial Engineering from Universidad de Los Andes.
Robert J. Haire, Executive Vice President, Supply Chain
Sean T. Moriarty, Vice President and General Manager, Surfactants
Richard F. Stepan, Vice President and General Manager, Polymers
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Key Risks to Stepan Company (SCL)
- Volatility in Raw Material and Energy Costs, and Resulting Margin Pressure: Stepan Company faces significant exposure to fluctuating raw material and energy costs, which directly impacts its profitability, especially within its primary Surfactants segment. The company has struggled to consistently pass on these higher costs, leading to thin net profit margins.
- Macroeconomic Weakness and Fluctuations in End-Market Demand: General economic downturns and soft demand in specific end-markets pose a key risk to Stepan Company's sales volumes and overall profitability. This particularly affects its Polymers segment due to low construction activity in Europe, and global consumer commodity products within the Surfactants segment.
- Operational Risks from Strategic Initiatives and High Fixed Costs: The company faces operational and financial risks associated with the costly ramp-up of new facilities, such as the alkoxylation facility in Pasadena, Texas, which has led to increased depreciation and impacted net income. Additionally, while initiatives like "Project Catalyst" aim for cost savings, there is an explicit execution risk, with potential delays, higher costs, or lower-than-expected savings that could negatively impact long-term growth and profitability. Operating in the chemical sector also entails structurally higher baseline costs for environmental and regulatory compliance.
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Stepan Company's main products and services operate within several addressable markets, detailed as follows:
Surfactants Segment
- Global Surfactants Market: The global surfactants market size was approximately USD 49.71 billion in 2025 and is projected to reach USD 77.25 billion by 2034.
- U.S. Surfactants Market: The U.S. surfactants market is projected to reach USD 12.82 billion by 2032.
Polymers Segment
- Global Polyols Market (including Polyurethane Polyols): The global polyols market was valued at USD 31.0 billion in 2025 and is estimated to reach USD 48.3 billion by 2034.
- Global Saturated Polyester Resin Market: This market was estimated at USD 5.38 billion in 2023 and is projected to reach USD 7.91 billion by 2030.
- Global Unsaturated Polyester Resin Market: The global unsaturated polyester resin market was valued at USD 7.32 billion in 2024 and is expected to reach USD 10.49 billion by 2032.
- Global Phthalic Anhydride Market: The global phthalic anhydride market size was valued at USD 10.20 billion in 2023 and is predicted to reach USD 16.26 billion by 2032.
Specialty Products Segment
- Global Food Flavors Market: The global food flavors market size was valued at USD 16.70 billion in 2025 and is projected to grow to USD 26.52 billion by 2034.
- Global Emulsifiers Market (including food, personal care, and pharmaceutical applications): The global emulsifiers market size was USD 11.46 billion in 2025 and is projected to reach USD 22.91 billion by 2034.
- Global Nutraceutical Ingredients Market (including Nutritional Supplement Ingredients): The global dietary supplements ingredients market size is likely to be valued at USD 181.6 billion in 2025 and is estimated to reach USD 301.3 billion by 2032.
- Global Pharmaceutical Excipients Market: The global pharmaceutical excipients market is estimated to be valued at USD 10.96 billion in 2025 and is expected to reach USD 19.29 billion by 2032.
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Stepan Company (SCL) is poised for future revenue growth over the next two to three years, driven by strategic investments, expanded production capabilities, targeted market penetration, optimized pricing, and operational efficiencies. These initiatives are expected to enhance its position in the specialty and intermediate chemicals markets.
Here are 3-5 expected drivers of future revenue growth for Stepan Company:
- Strategic Investments in Capacity Expansion: A significant driver is the new alkoxylation facility in Pasadena, Texas, which became operational in the first quarter of 2025 and is projected to reach full operational contribution by the second half of 2025. This expansion is critical for growing Stepan's alkoxylation business and enhancing its product offerings, contributing to volume growth and supply chain efficiencies. The facility is expected to achieve 70-80% utilization in 2026 and full utilization in 2027.
- Increased Production Capacity for High-Demand Product Lines: Stepan is focusing on specific high-demand product lines, exemplified by a 25% annual increase in its Alpha Olefin Sulfonates (AOS) production capacity, announced in June 2025. This expansion targets versatile surfactants used in consumer cleaning products, personal care items, and various industrial applications, including agricultural and oilfield sectors.
- Market Penetration and Expansion in High-Growth Sectors: The company is actively pursuing new market penetration and strengthening its presence in existing high-growth sectors, such as the agricultural and oilfield industries, which demonstrated double-digit volume growth in Q1 2025. Additionally, Stepan is targeting high-value niches, including premium surfactants for personal care and aromatic polyester polyols for rigid foam insulation, aiming to capture higher-margin, sustained-demand opportunities.
- Optimized Pricing Strategies and Favorable Product/Customer Mix: Stepan's revenue growth is also expected to be driven by its ongoing pricing strategies and a favorable shift in its product and customer mix. The company aims for consistent volume growth and margin improvement by enhancing execution and focusing on high-margin, growth-oriented markets.
- "Project Catalyst" for Cost Savings and Operational Efficiency: While primarily a cost-reduction initiative, "Project Catalyst," which targets approximately $100 million in pre-tax savings over the next two years, is expected to support adjusted EBITDA growth and positive free cash flow in 2026. This strategic transformation aims to enhance the competitiveness of Stepan's cost base and optimize its global manufacturing footprint, indirectly driving revenue by improving overall operational efficiency and competitiveness.
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Share Repurchases
- Stepan Company's Board of Directors authorized the company to repurchase up to $150,000,000 of its common stock in October 2021.
- The share repurchase program does not have an expiration date and repurchases may be commenced, suspended, or discontinued without prior notice.
Capital Expenditures
- Stepan's capital expenditures were $260 million in 2023, $123 million in 2024, and $122.5 million in 2025.
- The latest Last Twelve Months (LTM) capital expenditure value was $92.2 million as of September 27, 2025.
- A key focus of capital expenditures included the new alkoxylation facility in Pasadena, Texas, which began operations in the first quarter of 2025. Expected capital expenditures for 2026 are around $110 million, allocated for both growth projects and normal base capital expenditures.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Stepan Earnings Notes | 12/16/2025 | |
| With Stepan Stock Surging, Have You Considered The Downside? | 10/17/2025 | |
| SCL Dip Buy Analysis | 07/10/2025 | |
| Stepan Total Shareholder Return (TSR): -26.9% in 2024 and -15.6% 3-yr compounded annual returns (below peer average) | 03/07/2025 | |
| Stepan (SCL) Operating Cash Flow Comparison | 02/17/2025 | |
| Stepan (SCL) Net Income Comparison | 02/16/2025 | |
| Stepan (SCL) Operating Income Comparison | 02/15/2025 | |
| Stepan (SCL) Revenue Comparison | 02/13/2025 | |
| Stepan vs. S&P500 Correlation | 10/03/2024 | |
| Stepan Price Volatility | 09/24/2024 | |
| ARTICLES | ||
| Stocks Trading At 52-Week Low | 11/04/2025 |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 52.56 |
| Mkt Cap | 6.7 |
| Rev LTM | 9,066 |
| Op Inc LTM | 446 |
| FCF LTM | 268 |
| FCF 3Y Avg | 545 |
| CFO LTM | 1,092 |
| CFO 3Y Avg | 1,280 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -6.6% |
| Rev Chg 3Y Avg | -7.5% |
| Rev Chg Q | -3.6% |
| QoQ Delta Rev Chg LTM | -0.9% |
| Op Inc Chg LTM | -49.7% |
| Op Inc Chg 3Y Avg | -31.4% |
| Op Mgn LTM | 2.9% |
| Op Mgn 3Y Avg | 4.8% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 7.7% |
| CFO/Rev 3Y Avg | 9.7% |
| FCF/Rev LTM | 2.3% |
| FCF/Rev 3Y Avg | 3.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.7 |
| P/S | 0.6 |
| P/Op Inc | 20.4 |
| P/EBIT | -12.8 |
| P/E | -7.8 |
| P/CFO | 8.1 |
| Total Yield | -1.6% |
| Dividend Yield | 4.4% |
| FCF Yield 3Y Avg | 3.9% |
| D/E | 0.9 |
| Net D/E | 0.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -10.8% |
| 3M Rtn | -15.7% |
| 6M Rtn | 17.8% |
| 12M Rtn | 3.4% |
| 3Y Rtn | -34.6% |
| 1M Excs Rtn | -8.6% |
| 3M Excs Rtn | -27.7% |
| 6M Excs Rtn | 13.3% |
| 12M Excs Rtn | -15.8% |
| 3Y Excs Rtn | -103.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Surfactants | 1,666 | 1,532 | 1,603 | 1,883 | 1,563 |
| Polymers | 584 | 585 | 642 | 789 | 713 |
| Specialty Products | 82 | 63 | 80 | 101 | 70 |
| Total | 2,332 | 2,180 | 2,326 | 2,773 | 2,346 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Surfactants | 67 | 86 | 72 | 163 | 166 |
| Polymers | 43 | 41 | 61 | 83 | 74 |
| Specialty Products | 26 | 21 | 11 | 30 | 14 |
| Unallocated Corporate Expenses | -58 | -77 | -86 | -68 | -80 |
| Business restructuring | -0 | -3 | |||
| Total | 79 | 70 | 59 | 207 | 171 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Surfactants | 1,631 | 1,579 | 1,586 | 1,579 | 1,245 |
| Polymers | 537 | 523 | 537 | 566 | 557 |
| Unallocated Assets | 108 | 132 | 170 | 192 | 186 |
| Specialty Products | 82 | 71 | 71 | 96 | 78 |
| Total | 2,358 | 2,305 | 2,363 | 2,433 | 2,066 |
Price Behavior
Price Behavior
| Market Price | $55.71 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -15.9% | |
| 50 Days | 200 Days | |
| DMA Price | $51.86 | $49.49 |
| DMA Trend | up | up |
| Distance from DMA | 7.4% | 12.6% |
| 3M | 1YR | |
| Volatility | 28.2% | 36.6% |
| Downside Capture | 74.32 | 105.65 |
| Upside Capture | 82.04 | 87.14 |
| Correlation (SPY) | 41.9% | 31.3% |
SCL Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.81 | 1.41 | 0.98 | 1.00 | 1.00 | 0.99 |
| Up Beta | 1.68 | 1.21 | 0.73 | 0.62 | 0.89 | 1.01 |
| Down Beta | 2.22 | 2.62 | 0.78 | 1.52 | 1.00 | 0.89 |
| Up Capture | 150% | 85% | 99% | 109% | 82% | 55% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 11 | 23 | 33 | 72 | 137 | 377 |
| Down Capture | 217% | 239% | 128% | 94% | 118% | 106% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 18 | 30 | 52 | 113 | 374 |
[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 SCL | |
|---|---|---|---|---|
| SCL | 5.4% | 36.6% | 0.22 | - |
| Sector ETF (XLB) | 20.7% | 17.5% | 0.92 | 53.9% |
| Equity (SPY) | 21.2% | 12.4% | 1.26 | 31.2% |
| Gold (GLD) | 21.8% | 27.7% | 0.70 | 5.2% |
| Commodities (DBC) | 21.8% | 18.6% | 0.92 | -16.1% |
| Real Estate (VNQ) | 16.1% | 13.6% | 0.85 | 32.0% |
| Bitcoin (BTCUSD) | -44.7% | 42.5% | -1.27 | 18.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SCL | |
|---|---|---|---|---|
| SCL | -12.9% | 30.3% | -0.42 | - |
| Sector ETF (XLB) | 7.2% | 19.0% | 0.27 | 60.7% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 49.5% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 6.6% |
| Commodities (DBC) | 7.4% | 19.5% | 0.28 | 9.1% |
| Real Estate (VNQ) | 3.4% | 18.9% | 0.08 | 47.3% |
| Bitcoin (BTCUSD) | 10.7% | 54.0% | 0.39 | 20.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SCL | |
|---|---|---|---|---|
| SCL | 0.7% | 31.6% | 0.09 | - |
| Sector ETF (XLB) | 10.3% | 20.7% | 0.44 | 59.6% |
| Equity (SPY) | 15.2% | 18.0% | 0.72 | 53.5% |
| Gold (GLD) | 11.8% | 16.1% | 0.60 | 2.5% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 15.3% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 44.2% |
| Bitcoin (BTCUSD) | 54.6% | 66.4% | 0.95 | 12.5% |
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Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/28/2026 | -6.3% | -3.6% | 1.9% |
| 2/23/2026 | -20.4% | -24.3% | -29.4% |
| 7/30/2025 | -9.7% | -8.2% | -7.0% |
| 2/19/2025 | 0.1% | 1.4% | -5.6% |
| 10/30/2024 | 2.0% | 1.9% | 4.3% |
| 7/31/2024 | -6.0% | -18.6% | -14.1% |
| 4/30/2024 | -1.8% | 2.6% | -1.9% |
| 2/20/2024 | -2.3% | -3.3% | -6.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 12 | 11 |
| # Negative | 13 | 10 | 11 |
| Median Positive | 2.0% | 1.9% | 5.8% |
| Median Negative | -3.2% | -5.8% | -7.0% |
| Max Positive | 5.1% | 6.0% | 15.4% |
| Max Negative | -20.4% | -24.3% | -29.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/28/2026 | -6.3% | -3.6% | 1.9% |
| 2/23/2026 | -20.4% | -24.3% | -29.4% |
| 7/30/2025 | -9.7% | -8.2% | -7.0% |
| 2/19/2025 | 0.1% | 1.4% | -5.6% |
| 10/30/2024 | 2.0% | 1.9% | 4.3% |
| 7/31/2024 | -6.0% | -18.6% | -14.1% |
| 4/30/2024 | -1.8% | 2.6% | -1.9% |
| 2/20/2024 | -2.3% | -3.3% | -6.4% |
| 10/18/2023 | 1.6% | 1.9% | 11.0% |
| 7/26/2023 | -3.2% | -1.8% | -11.4% |
| 4/25/2023 | -8.9% | -9.3% | -2.3% |
| 2/16/2023 | -5.0% | -4.6% | -12.9% |
| 10/19/2022 | 3.6% | 1.8% | 11.1% |
| 7/27/2022 | 5.1% | 3.0% | 3.7% |
| 4/26/2022 | 1.7% | 5.1% | 8.6% |
| 2/17/2022 | -1.1% | -6.9% | -9.4% |
| 10/20/2021 | 3.4% | 2.5% | 2.8% |
| 7/28/2021 | -0.3% | 0.7% | -1.6% |
| 4/27/2021 | -1.8% | 1.6% | 1.5% |
| 2/18/2021 | -3.0% | -0.3% | 5.8% |
| 10/21/2020 | 0.3% | 0.9% | 7.4% |
| 7/22/2020 | 3.2% | 6.0% | 15.4% |
| SUMMARY STATS | |||
| # Positive | 9 | 12 | 11 |
| # Negative | 13 | 10 | 11 |
| Median Positive | 2.0% | 1.9% | 5.8% |
| Median Negative | -3.2% | -5.8% | -7.0% |
| Max Positive | 5.1% | 6.0% | 15.4% |
| Max Negative | -20.4% | -24.3% | -29.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/30/2020 | 10-Q |
| 03/31/2020 | 04/30/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 10/30/2019 | 10-Q |
| 06/30/2019 | 07/31/2019 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Asset Divestiture Proceeds | 30.00 Mil | ||||||
| 2027 Pre-tax savings | 100.00 Mil | ||||||
Prior: Q4 2025 Earnings Reported 2/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Pre-tax savings | 100.00 Mil | ||||||
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Specialty Chemicals Resources |
| SpecialChem |
| Chemical Week |
| ICIS |
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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Core Cache Last Updated: 6/26/2026