Koppers vs Quaker Chemical
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The short version
- Quaker Chemical is the larger business, with $1.9B of revenue in fiscal 2025 against $1.9B for Koppers.
- Quaker Chemical grew revenue faster (2.7%, against −10.2%).
- Koppers kept more of each dollar of sales as operating profit (8.9% operating margin, against 2.8%).
- Quaker Chemical turned more of its sales into free cash flow (4.3% FCF margin, against 3.6%).
- Koppers earned a higher return on the capital invested in it (8.1%, against 1.3%).
| Latest fiscal year | KOP · FY25 | KWR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $767M | $2.7B |
| Revenue | $1.9B | $1.9B |
| Free cash flow | $67.5M | $80.6M |
| Net income | $56.0M | −$2.5M |
| Growth | ||
| Revenue growth | −10.2% | 2.7% |
| 5-year growth | 2.4% | 5.9% |
| Share count change | −4.2% | −2.2% |
| Profitability | ||
| Gross margin | 23.8% | 36.0% |
| Operating margin | 8.9% | 2.8% |
| Net margin | 3.0% | −0.1% |
| FCF margin | 3.6% | 4.3% |
| Return on capital | 8.1% | 1.3% |
| Return on equity | 10.5% | −0.2% |
| Balance sheet | ||
| Net debt | $890M | $726M |
| Net debt / EBITDA | 3.7x | 6.1x |
| Dividends and buybacks | $44.6M | $75.9M |
| Valuation & quality | ||
| P/E | — | 27.8x |
| Piotroski F-score | 8 | 5 |
Revenue
FY16
KOP $1.4B
KWR $747M
FY17
KOP $1.5B
KWR $820M
FY18
KOP $1.6B
KWR $868M
FY19
KOP $1.6B
KWR $1.1B
FY20
KOP $1.7B
KWR $1.4B
FY21
KOP $1.7B
KWR $1.8B
FY22
KOP $2.0B
KWR $1.9B
FY23
KOP $2.2B
KWR $2.0B
FY24
KOP $2.1B
KWR $1.8B
FY25
KOP $1.9B
KWR $1.9B
KOP
KWR
Operating margin
FY16
KOP 6.6%
KWR 11.4%
FY17
KOP 8.4%
KWR 7.7%
FY18
KOP 5.4%
KWR 10.1%
FY19
KOP 7.6%
KWR 4.1%
FY20
KOP 9.4%
KWR 4.2%
FY21
KOP 9.3%
KWR 8.5%
FY22
KOP 7.0%
KWR 2.7%
FY23
KOP 9.1%
KWR 11.0%
FY24
KOP 7.1%
KWR 10.6%
FY25
KOP 8.9%
KWR 2.8%
KOP
KWR
Free cash flow
FY16
KOP $69.6M
KWR $63.8M
FY17
KOP $34.3M
KWR $53.9M
FY18
KOP −$31.4M
KWR $65.9M
FY19
KOP $78.1M
KWR $66.8M
FY20
KOP $57.3M
KWR $160M
FY21
KOP −$22.0M
KWR $27.5M
FY22
KOP −$3.0M
KWR $13.3M
FY23
KOP $25.6M
KWR $240M
FY24
KOP $42.0M
KWR $163M
FY25
KOP $67.5M
KWR $80.6M
KOP
KWR
Return on capital
FY16
KOP 9.5%
KWR 16.0%
FY17
KOP 9.0%
KWR 8.1%
FY18
KOP 4.8%
KWR 16.4%
FY19
KOP 12.1%
KWR 3.6%
FY20
KOP 11.9%
KWR 2.9%
FY21
KOP 9.9%
KWR 5.5%
FY22
KOP 7.8%
KWR 1.3%
FY23
KOP 11.3%
KWR 6.8%
FY24
KOP 7.8%
KWR 6.9%
FY25
KOP 8.1%
KWR 1.3%
KOP
KWR
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.