SCL

MKT CAP:$1B

Stepan Company

Market Cap

$1B

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

Materials·Chemicals·🇺🇸·NYSE

Stock Price

$51.17+$4.01 (+8.50%)

Apr 21, 2026

Company Details

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products. It operates through three segments: Surfactants, Polymers, and Specialty Product...

CEO

Luis E. Rojo

IPO Date

Mar 17, 1992

Website

www.stepan.com

Key Metrics TTM

Revenue

$2.3B

+7.0% YoY

Net Income

$47M

EPS (Diluted)

$2.05

Free Cash Flow

-$31M

Revenue / Share

$101.88

Gross Margin

11.6%

Operating Margin

3.0%

Net Margin

2.0%

FCF Margin

-1.3%

P/S

0.5x

P/E

25.2x

Earnings Reports

Q1 2026

Apr 28, 2026

PENDING

FY 2025

Feb 26, 2026

$2.3B+7.0%EPS $2.05

Q4 2025

Feb 26, 2026

$554M+5.4%EPS $0.22

Q3 2025

Nov 5, 2025

$590M+7.9%EPS $0.47

Q2 2025

Aug 6, 2025

$595M+6.9%EPS $0.50

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$675M	$109M	$63M
Q2 22	$752M	$132M	$78M
Q3 22	$719M	$118M	$55M
Q4 22	$627M	$68M	$12M
Q1 23	$651M	$74M	$21M
Q2 23	$580M	$66M	$18M
Q3 23	$562M	$71M	$20M
Q4 23	$532M	$66M	$230.0K
Q1 24	$551M	$70M	$20M
Q2 24	$556M	$70M	$19M
Q3 24	$547M	$76M	$24M
Q4 24	$526M	$57M	$8M
Q1 25	$593M	$75M	$28M
Q2 25	$595M	$72M	$18M
Q3 25	$590M	$71M	$22M
Q4 25	$554M	$52M	$854.0K

Valuation

Quarter	P/S	P/E
Q1 22	0.9x	15.9x
Q2 22	0.9x	15.4x
Q3 22	0.8x	14.3x
Q4 22	0.9x	16.6x
Q1 23	0.9x	19.8x
Q2 23	0.8x	27.5x
Q3 23	0.7x	31.2x
Q4 23	0.9x	51.2x
Q1 24	0.9x	53.2x
Q2 24	0.9x	54.3x
Q3 24	0.8x	38.5x
Q4 24	0.7x	29.3x
Q1 25	0.6x	22.5x
Q2 25	0.6x	21.6x
Q3 25	0.5x	23.9x
Q4 25	0.5x	23.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$21M	-$81M
Q2 22	$59M	-$10M
Q3 22	$37M	-$39M
Q4 22	$86M	-$10M
Q1 23	-$72M	-$164M
Q2 23	$108M	$40M
Q3 23	$70M	$16M
Q4 23	$69M	$22M
Q1 24	$42M	$11M
Q2 24	$30M	-$208.0K
Q3 24	$23M	$83M
Q4 24	$68M	$32M
Q1 25	$7M	-$26M
Q2 25	$11M	-$14M
Q3 25	$70M	$40M
Q4 25	$60M	-$31M

Capital Expenditures

Quarter	CapEx
Q1 22	$60M
Q2 22	$69M
Q3 22	$76M
Q4 22	$96M
Q1 23	$92M
Q2 23	$68M
Q3 23	$54M
Q4 23	$47M
Q1 24	$30M
Q2 24	$30M
Q3 24	$60M
Q4 24	$36M
Q1 25	$33M
Q2 25	$26M
Q3 25	$30M
Q4 25	$91M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+25.6%	+26.5%
Q2 22	+26.2%	+25.1%
Q3 22	+19.3%	+18.1%
Q4 22	+2.8%	+4.3%
Q1 23	-3.5%	+3.0%
Q2 23	-22.8%	-16.6%
Q3 23	-21.8%	-18.3%
Q4 23	-15.2%	-13.6%
Q1 24	-15.4%	-15.7%
Q2 24	-4.1%	-4.3%
Q3 24	-2.7%	-3.7%
Q4 24	-1.2%	-2.6%
Q1 25	+7.6%	+6.3%
Q2 25	+6.9%	+7.2%
Q3 25	+7.9%	+8.7%
Q4 25	+5.4%	+6.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	0.4%
Q2 22	$4M	0.5%
Q3 22	$3M	0.4%
Q4 22	$4M	0.6%
Q1 23	$999.0K	0.2%
Q2 23	$1M	0.2%
Q3 23	$2M	0.3%
Q4 23	$2M	0.4%
Q1 24	$1M	0.2%
Q2 24	$2M	0.3%
Q3 24	$2M	0.3%
Q4 24	$0	0.0%
Q1 25	$1M	0.2%
Q2 25	$2M	0.3%
Q3 25	$1M	0.2%
Q4 25	$5M	0.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$16M	$22M	$15M	—
Q2 22	$17M	$24M	$16M	—
Q3 22	$17M	$34M	$15M	—
Q4 22	$17M	$23M	$13M	—
Q1 23	$15M	$23M	$13M	—
Q2 23	$14M	$23M	$11M	—
Q3 23	$14M	$23M	$12M	—
Q4 23	$15M	$25M	$12M	—
Q1 24	$14M	$23M	$11M	—
Q2 24	$14M	$25M	$12M	—
Q3 24	$14M	$26M	$11M	—
Q4 24	$14M	$25M	$11M	—
Q1 25	$15M	$21M	$12M	—
Q2 25	$15M	$23M	$15M	—
Q3 25	$14M	$23M	$11M	—
Q4 25	$16M	—	—	$37M

Revenue Segments

Quarter	Polymers	Specialty Products	Surfactants
Q1 22	$187M	$20M	$468M
Q2 22	$239M	$28M	$485M
Q3 22	$215M	$30M	$475M
Q4 22	$148M	$24M	$455M
Q1 23	$161M	$22M	$468M
Q2 23	$165M	$24M	$392M
Q3 23	$170M	$19M	$374M
Q4 23	$147M	$15M	$369M
Q1 24	$146M	$15M	$391M
Q2 24	$160M	$17M	$380M
Q3 24	$150M	$14M	$383M
Q1 25	$146M	$17M	$430M
Q2 25	$163M	$20M	$411M
Q3 25	$144M	$24M	$422M
Q4 25	$132M	$20M	$402M

Revenue by Geography

Quarter	Asia	Europe	Latin America	North America
Q1 22	$29M	$175M	$87M	$385M
Q2 22	$26M	$191M	$100M	$435M
Q3 22	$26M	$167M	$100M	$426M
Q4 22	$28M	$140M	$84M	$375M
Q1 23	$29M	$165M	$82M	$376M
Q2 23	$23M	$138M	$79M	$340M
Q3 23	$25M	$130M	$77M	$330M
Q4 23	$25M	$129M	$69M	$309M
Q1 24	$24M	$136M	$78M	$313M
Q2 24	$24M	$132M	$84M	$316M
Q3 24	$26M	$132M	$85M	$304M
Q1 25	$26M	$146M	$83M	$338M
Q2 25	$23M	$141M	$91M	$339M
Q3 25	$27M	$131M	$99M	$333M
Q4 25	$17M	$124M	$86M	$327M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$236M	$0	$236M
Q2 22	$195M	$0	$195M
Q3 22	$166M	$0	$166M
Q4 22	$174M	$0	$174M
Q1 23	$127M	$0	$127M
Q2 23	$134M	$0	$134M
Q3 23	$106M	$0	$106M
Q4 23	$130M	$0	$130M
Q1 24	$126M	$0	$126M
Q2 24	$125M	$0	$125M
Q3 24	$147M	$0	$147M
Q4 24	$100M	$0	$100M
Q1 25	$108M	$0	$108M
Q2 25	$89M	$0	$89M
Q3 25	$119M	$0	$119M
Q4 25	$133M	$0	$133M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	23M	-0.4%	-0.7%
Q2 22	23M	-0.5%	-1.2%
Q3 22	23M	-0.1%	-0.8%
Q4 22	23M	-0.2%	-1.1%
Q1 23	23M	0.0%	-0.7%
Q2 23	23M	-0.2%	-0.5%
Q3 23	23M	-0.1%	-0.5%
Q4 23	23M	-0.6%	-0.9%
Q1 24	23M	+0.7%	-0.2%
Q2 24	23M	-0.1%	-0.0%
Q3 24	23M	-0.1%	-0.0%
Q4 24	23M	-0.0%	+0.5%
Q1 25	23M	-0.1%	-0.3%
Q2 25	23M	-0.0%	-0.2%
Q3 25	23M	+0.0%	-0.2%
Q4 25	23M	+0.0%	-0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$276.9K	2K
Q2 22	$308.2K	2K
Q3 22	$294.9K	2K
Q4 22	$255.7K	2K
Q1 23	$265.6K	2K
Q2 23	$236.4K	2K
Q3 23	$229.2K	2K
Q4 23	$222.7K	2K
Q1 24	$230.8K	2K
Q2 24	$232.9K	2K
Q3 24	$228.9K	2K
Q4 24	$219.4K	2K
Q1 25	$247.6K	2K
Q2 25	$248.2K	2K
Q3 25	$246.4K	2K
Q4 25	$7M	85

Revenue / Employee