Koppers vs Quaker Chemical
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KIRA’s take AI analyst
I put Koppers and Quaker Chemical side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Koppers
KOP
7/11
Operating marginNet marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Quaker Chemical
KWR
4/11
Revenue growth5-year growthGross marginFCF margin
Side by side
Best in the row
| Latest fiscal year | KOP FY25 | KWR FY25 |
|---|---|---|
| Size | ||
| Market cap | $761M | $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 | — | 27.6x |
| Piotroski F-score | 8 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

