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Koppers

KOP NYSE Commodity Chemicals Financials FY2016–FY2025

Koppers' revenue fell 10.2% to $1.9 billion in fiscal 2025. Its operating margin was 8.9%, up from 7.1% a year earlier. Free cash flow was $68 million, up 60.7%. It paid out $45 million in dividends and buybacks, 66% of free cash flow. The diluted share count fell 4.2%.

Last close · Oct 23, 2026

$40.18

1.4%
Value it Compare
Revenue Total sales reported in the income statement.
$1.9B
10.2% vs prior year
Operating margin Operating income as a share of revenue.
8.9%
1.8 pts
Net income Profit after all expenses, interest and tax.
$56.0M
6.9%
Free cash flow Cash from operations minus capital spending.
$67.5M
60.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
8.1%
0.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$767M
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Koppers does

No business description yet.

Legal name
KOPPERS HOLDINGS INC.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001315257-26-000012
0001315257

Revenue and margins

Koppers had $1.9B of revenue in fiscal 2025, down 10.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 7.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $67.5M in fiscal 2025, 3.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Koppers returned $44.6M to shareholders in fiscal 2025, 66% of free cash flow. The diluted share count fell 4.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Koppers yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$890M and divides by 20.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Koppers can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $45.5M$33.3M$66.5M$43.9M$38.0M
Debt incl. finance leases $789M$825M$849M$940M$928M
Net debt / EBITDA 3.5x4.1x3.1x4.2x3.7x
Debt / equity 1.9x2.1x1.7x1.9x1.6x
Interest coverage 3.9x3.1x2.8x1.9x2.5x
Current ratio 2.2x2.0x2.1x2.1x2.9x
Quick ratio 1.1x0.9x0.9x0.9x1.1x
Total assets $1.7B$1.7B$1.8B$1.9B$1.9B
Total liabilities $1.3B$1.3B$1.3B$1.4B$1.3B
Shareholders' equity $407M$399M$499M$489M$574M
Net debt (− = net cash) $744M$792M$783M$896M$890M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$5.6M

4 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 31, 2026 Ball M LeroyCEO, Director Sold 4,000 $45.96 $0.2M Form 4
Aug 19, 2026 Ball M LeroyCEO, Director Sold 3,000 $45.84 $0.1M Form 4
Aug 12, 2026 Stephen G LucasSVP, Culture and Engagement Sold 1,308 $44.55 $0.1M Form 4
Aug 11, 2026 James A. SullivanPresident and CTO Sold 7,500 $50.00 $0.4M Form 4
Aug 10, 2026 Bradley A PearceCAO Sold 2,000 $51.01 $0.1M Form 4
Aug 7, 2026 James A. SullivanPresident and CTO Sold 80,000 $50.01 $4.0M Form 4
Jun 18, 2026 Ball M LeroyCEO, Director Sold 3,412 $43.90 $0.1M Form 4
Jun 11, 2026 Ball M LeroyCEO, Director Sold 4,141 $41.34 $0.2M Form 4
May 13, 2026 Ball M LeroyCEO, Director Sold 2,659 $42.55 $0.1M Form 4
Mar 17, 2026 Ball M LeroyCEO, Director Sold 2,489 $37.91 $0.1M Form 4
Mar 2, 2026 Ball M LeroyCEO, Director Sold 6,275 $36.87 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✕ ✓ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✕ ✕
F-score 8 / 95 / 98 / 9
Accruals ratio −3.2%−3.6%−3.5%
Altman Z'' 3.232.973.52

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Koppers KOP $767M −10.2% 8.9% 3.6% 8.1% — 8
Hawkins HWKN $2.8B 11.2% 11.2% 7.9% 13.1% 34.3x 4 Compare →
Dow DOW $23.5B −7.0% — −3.6% −4.1% — 3 Compare →
Quaker Chemical KWR $2.7B 2.7% 2.8% 4.3% 1.3% 27.8x 5 Compare →
Ashland Global ASH $3.4B −13.7% −42.5% 2.0% −17.5% 69.5x 5 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.4B $1.5B $1.6B $1.6B $1.7B $1.7B $2.0B $2.2B $2.1B $1.9B
Gross profit $290M $322M $302M $331M $360M $334M $345M $425M $423M $448M
Research and development $6.6M $9.0M — — — — — — — —
Operating income $93.4M $124M $84.4M $125M $157M $157M $138M $195M $148M $168M
Interest expense $50.8M $42.5M $54.1M $61.7M $48.9M $40.5M $44.8M $71.0M $76.2M $66.1M
Pretax income $38.5M $60.3M $31.2M $63.7M $110M $120M $95.4M $125M $69.3M $81.2M
Income tax $11.4M $29.0M $25.7M $0.0M $21.0M $34.5M $31.6M $34.8M $20.7M $25.2M
Net income $29.3M $29.1M $23.4M $66.6M $122M $85.2M $63.4M $89.2M $52.4M $56.0M
Diluted EPS $1.39 $1.32 $1.10 $3.16 $5.71 $3.88 $2.98 $4.14 $2.46 $2.74
Diluted shares 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B
Cash flow
Cash from operations $120M $102M $78.3M $115M $127M $103M $102M $146M $119M $123M
Capital expenditure $49.9M $67.5M $110M $37.2M $69.8M $125M $105M $121M $77.4M $55.0M
Free cash flow $69.6M $34.3M −$31.4M $78.1M $57.3M −$22.0M −$3.0M $25.6M $42.0M $67.5M
Depreciation and amortization $52.9M $49.8M $46.9M $51.4M $54.1M $57.7M $56.1M $57.0M $67.5M $73.6M
Stock-based compensation $8.9M $10.6M $12.5M $12.1M $11.3M $13.0M $13.2M $17.3M $20.8M $13.8M
Acquisitions $0.0M $0.0M $264M $0.0M $0.0M $0.0M $14.7M $0.0M $99.3M $20.7M
Share buybacks $0.3M $5.2M $31.8M $0.9M $1.6M $11.5M $23.6M $20.1M $50.8M $38.2M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $4.2M $5.0M $5.9M $6.4M
Dividends and buybacks $0.3M $5.2M $31.8M $0.9M $1.6M $11.5M $27.8M $25.1M $56.7M $44.6M
Balance sheet
Cash and short-term investments $20.8M $50.9M $37.4M $32.3M $38.5M $45.5M $33.3M $66.5M $43.9M $38.0M
Total debt $671M $689M $1.0B $912M $784M $789M $825M $849M $940M $928M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $438M $507M $540M $520M $565M $628M $637M $699M $681M $669M
Current liabilities $293M $281M $299M $296M $292M $286M $324M $326M $326M $227M
Inventory $229M $237M $285M $289M $296M $314M $356M $396M $405M $411M
Property and equipment, net $281M $328M $418M $359M $409M $489M $557M $632M $661M $651M
Total assets $1.1B $1.2B $1.5B $1.6B $1.6B $1.7B $1.7B $1.8B $1.9B $1.9B
Total liabilities $1.1B $1.1B $1.4B $1.4B $1.3B $1.3B $1.3B $1.3B $1.4B $1.3B
Shareholders' equity $30.4M $99.9M $56.2M $147M $342M $407M $399M $499M $489M $574M
Margins
Gross margin 20.5% 21.8% 19.3% 20.2% 21.6% 19.9% 17.4% 19.7% 20.2% 23.8%
Operating margin 6.6% 8.4% 5.4% 7.6% 9.4% 9.3% 7.0% 9.1% 7.1% 8.9%
EBITDA margin 10.3% 11.8% 8.4% 10.8% 12.6% 12.8% 9.8% 11.7% 10.3% 12.9%
Net margin 2.1% 2.0% 1.5% 4.1% 7.3% 5.1% 3.2% 4.1% 2.5% 3.0%
FCF margin 4.9% 2.3% −2.0% 4.8% 3.4% −1.3% −0.2% 1.2% 2.0% 3.6%
Returns
Return on capital 9.5% 9.0% 4.8% 12.1% 11.9% 9.9% 7.8% 11.3% 7.8% 8.1%
Return on capital employed 11.5% 14.4% 8.0% 10.2% 12.2% 11.7% 10.0% 13.5% 9.6% 10.4%
Return on equity — 44.7% 30.0% 65.5% 49.9% 22.8% 15.7% 19.9% 10.6% 10.5%
Return on assets 2.7% 2.5% 1.8% 4.4% 7.7% 5.2% 3.8% 5.0% 2.8% 3.0%
Growth
Revenue growth −13.0% 4.2% 5.9% 4.8% 2.0% 0.6% 18.0% 8.8% −2.9% −10.2%
Net income growth — −0.7% −19.6% 184.6% 83.2% −30.2% −25.6% 40.7% −41.3% 6.9%
EPS growth — −5.0% −16.7% 187.3% 80.7% −32.1% −23.2% 38.9% −40.6% 11.4%
FCF growth −20.0% −50.7% −191.6% — −26.6% −138.4% — — 64.1% 60.7%
Share count change 2.5% 4.5% −3.1% −1.2% 1.5% 2.6% −2.8% 1.1% −1.2% −4.2%
Financial health
Net debt / EBITDA 4.4x 3.7x 7.4x 5.0x 3.5x 3.5x 4.1x 3.1x 4.2x 3.7x
Debt / equity — 6.9x — 6.2x 2.3x 1.9x 2.1x 1.7x 1.9x 1.6x
Interest coverage 1.8x 2.9x 1.6x 2.0x 3.2x 3.9x 3.1x 2.8x 1.9x 2.5x
Current ratio 1.5x 1.8x 1.8x 1.8x 1.9x 2.2x 2.0x 2.1x 2.1x 2.9x
Quick ratio 0.7x 1.0x 0.9x 0.8x 0.9x 1.1x 0.9x 0.9x 0.9x 1.1x
Capital allocation
Capex / revenue 3.5% 4.6% 7.0% 2.3% 4.2% 7.5% 5.3% 5.6% 3.7% 2.9%
Stock comp / revenue 0.6% 0.7% 0.8% 0.7% 0.7% 0.8% 0.7% 0.8% 1.0% 0.7%
Payouts / FCF 0.4% 15.2% — 1.2% 2.8% — — 98.1% 135.0% 66.1%
Quality scores
Piotroski F-score 7.0 8.0 5.0 7.0 7.0 5.0 5.0 8.0 5.0 8.0
Altman Z'' 1.4 2.1 1.6 1.8 2.5 2.9 2.8 3.2 3.0 3.5
Accruals ratio −8.2% −6.4% −4.1% −3.2% −0.3% −1.1% −2.3% −3.2% −3.6% −3.5%

Source: SEC EDGAR XBRL filings (CIK 0001315257). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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