KWR

MKT CAP:$2B

Quaker Chemical Corporation

Market Cap

$2B

Basic Materials·Chemicals - Specialty·🇺🇸 United States·NYSE

Materials·Chemicals·🇺🇸·NYSE

Stock Price

$135.72-$3.24 (-2.33%)

Apr 23, 2026

Company Details

Quaker Chemical Corporation develops, produces, and markets various formulated chemical specialty products for a range of heavy industrial and manufacturing applications. The company operates through four segments: Americas; Europe, Middle ...

CEO

Joseph A. Berquist

IPO Date

Mar 17, 1980

Website

www.quakerhoughton.com

Key Metrics TTM

Revenue

$1.9B

+2.4% YoY

Net Income

-$2M

EPS (Diluted)

-$0.12

Free Cash Flow

$121M

Revenue / Share

$108.34

Gross Margin

35.1%

Operating Margin

3.0%

Net Margin

-0.1%

FCF Margin

6.4%

P/S

1.3x

P/E

—

Earnings Reports

Q1 2026

May 7, 2026

PENDING

Q4 2025

Feb 23, 2026

$468M+5.5%EPS $1.18

Q3 2025

Oct 30, 2025

$494MEPS $1.75

Q2 2025

Jul 31, 2025

$483M+4.3%EPS -$3.78

Q1 2025

May 1, 2025

$443M-5.7%EPS $0.73

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$449M	$145M	$36M
Q4 21	$447M	$139M	$31M
Q1 22	$474M	$146M	$29M
Q2 22	$492M	$150M	$32M
Q3 22	$492M	$161M	$45M
Q4 22	$485M	$156M	-$54M
Q1 23	$500M	$173M	$50M
Q3 23	$491M	$183M	$60M
Q4 23	$467M	$171M	$48M
Q1 24	$470M	$182M	$56M
Q2 24	$464M	$176M	$58M
Q4 24	$444M	$156M	$29M
Q1 25	$443M	$161M	$28M
Q2 25	$483M	$172M	-$53M
Q3 25	$494M	$181M	$47M
Q4 25	$468M	$149M	$35M

Valuation

Quarter	P/S	P/E
Q3 21	1.4x	16.0x
Q4 21	1.4x	20.0x
Q1 22	1.3x	23.6x
Q2 22	1.3x	29.1x
Q3 22	1.3x	31.0x
Q4 22	1.2x	—
Q1 23	1.2x	—
Q3 23	1.2x	184.9x
Q4 23	1.2x	325.7x
Q1 24	1.3x	20.4x
Q2 24	1.3x	19.6x
Q4 24	1.3x	23.2x
Q1 25	1.3x	24.9x
Q2 25	1.3x	—
Q3 25	1.3x	—
Q4 25	1.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$12M	$6M
Q4 21	$46M	$38M
Q1 22	-$6M	-$15M
Q2 22	-$2M	-$8M
Q3 22	-$18M	-$23M
Q4 22	$68M	$60M
Q1 23	$38M	$32M
Q3 23	$83M	$75M
Q4 23	$80M	$67M
Q1 24	$27M	$23M
Q2 24	$46M	$40M
Q4 24	$63M	$41M
Q1 25	-$3M	-$10M
Q2 25	$42M	$43M
Q3 25	$51M	$54M
Q4 25	$47M	$34M

Capital Expenditures

Quarter	CapEx
Q3 21	$6M
Q4 21	$9M
Q1 22	$9M
Q2 22	$6M
Q3 22	$5M
Q4 22	$8M
Q1 23	$6M
Q3 23	$9M
Q4 23	$13M
Q1 24	$4M
Q2 24	$7M
Q4 24	$22M
Q1 25	$7M
Q2 25	$2M
Q3 25	$2M
Q4 25	$12M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+22.3%	+24.3%
Q4 21	+15.9%	+18.6%
Q1 22	+10.3%	+15.6%
Q2 22	+13.1%	+16.2%
Q3 22	+9.6%	+8.4%
Q4 22	+8.4%	+29.3%
Q1 23	+5.5%	+1.2%
Q3 23	-0.4%	-6.4%
Q4 23	-5.1%	-6.4%
Q1 24	-3.1%	-23.1%
Q2 24	-7.3%	-10.0%
Q4 24	-9.5%	-3.7%
Q1 25	-5.2%	-0.9%
Q2 25	+2.9%	+29.4%
Q3 25	+6.5%	+10.4%
Q4 25	+5.5%	+4.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$3M	0.7%
Q1 24	$4M	0.8%
Q2 24	$0	0.0%
Q4 24	$3M	0.6%
Q1 25	$3M	0.7%
Q2 25	$4M	0.8%
Q3 25	$4M	0.7%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 21	—	$104M	—
Q4 21	—	$102M	—
Q1 22	—	$112M	—
Q2 22	—	$116M	—
Q3 22	—	$115M	—
Q4 22	—	$112M	—
Q1 23	—	$120M	—
Q3 23	—	$123M	—
Q4 23	$50M	$122M	—
Q1 24	—	$124M	—
Q2 24	—	$117M	—
Q4 24	—	—	$125M
Q1 25	—	$119M	—
Q2 25	—	$127M	—
Q3 25	—	—	$126M
Q4 25	—	—	$114M

Revenue Segments

Quarter	Metals	Metalworking and Other
Q2 25	$155M	$328M
Q3 25	$160M	$334M

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea	Global Specialty Businesses
Q3 21	$151M	$99M	$122M	$77M
Q4 21	$147M	$101M	$115M	$84M
Q1 22	$211M	$117M	$146M	—
Q2 22	$173M	$100M	$123M	$97M
Q3 22	$187M	$91M	$113M	$101M
Q4 22	$241M	$112M	$132M	—
Q1 23	$251M	$96M	$152M	—
Q3 23	$246M	$105M	$140M	—
Q4 23	$227M	$105M	$136M	—
Q1 24	$230M	$102M	$138M	—
Q2 24	$224M	$102M	$138M	—
Q4 24	$209M	$110M	$126M	—
Q1 25	$214M	$100M	$129M	—
Q2 25	$221M	$122M	$140M	—
Q3 25	$223M	$127M	$144M	—
Q4 25	$208M	$126M	$135M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$162M	$0	$162M
Q2 22	$202M	$0	$202M
Q3 22	$139M	$0	$139M
Q4 22	$181M	$0	$181M
Q1 23	$190M	$0	$190M
Q2 23	$189M	$0	$189M
Q3 23	$198M	$0	$198M
Q4 23	$195M	$0	$195M
Q1 24	$196M	$0	$196M
Q2 24	$189M	$0	$189M
Q3 24	$212M	$0	$212M
Q4 24	$189M	$0	$189M
Q1 25	$186M	$0	$186M
Q2 25	$202M	$0	$202M
Q3 25	$172M	$0	$172M
Q4 25	$180M	$0	$180M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	18M	+0.1%	+0.4%
Q4 21	18M	-0.0%	+0.3%
Q1 22	18M	-0.1%	-0.0%
Q2 22	18M	-0.1%	-0.0%
Q3 22	18M	+0.1%	-0.1%
Q4 22	18M	+0.1%	+0.0%
Q1 23	18M	+0.2%	+0.3%
Q3 23	18M	+0.1%	+0.4%
Q4 23	18M	-0.0%	+0.3%
Q1 24	18M	+0.1%	+0.4%
Q2 24	18M	+0.0%	+0.2%
Q4 24	18M	-1.0%	-0.9%
Q1 25	18M	0.0%	-0.9%
Q2 25	18M	-1.0%	-1.9%
Q3 25	17M	-1.0%	-2.9%
Q4 25	17M	+0.1%	-1.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$106.9K	4K
Q4 21	$95.1K	5K
Q1 22	$100.9K	5K
Q2 22	$104.8K	5K
Q3 22	$104.7K	5K
Q4 22	$105.4K	5K
Q1 23	$108.7K	5K
Q3 23	$106.7K	5K
Q4 23	$106.2K	4K
Q1 24	$106.8K	4K
Q2 24	$105.4K	4K
Q4 24	$100.9K	4K
Q1 25	$100.7K	4K
Q2 25	$109.9K	4K
Q3 25	$112.2K	4K
Q4 25	$99.7K	5K

Revenue / Employee