Input and raw-material costsnegative · 4 filings
“In addition, favorable raw material costs were partially offset by higher operating costs.”10-Q · Apr 23, 2026 ↗
NewMarket Corporation
NEU
Market read
NewMarket Corporation's current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
What changed
- Operating cash flow covered net income at 1.05x, improving versus the comparable period.
- Revenue decreased 4.5% versus the comparable filing period.
Company+2.3% todayVolume comparison unavailable
Market group0 of 1 activePetroleum Additives · unavailable
Disclosed network0 of 3 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- NEU's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if NEU's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
Evidence that supports
- Operating cash flow covered net income at 1.05x, improving versus the comparable period.
Evidence that challenges
- Revenue decreased 4.5% versus the comparable filing period.
- Operating margin fell 1.4 percentage points.
- Gross margin fell 0.7 percentage points.
What would clarify the read
- NEU's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements64
Verified relationships3
Evidence supporting the case
- Operating cash flow covered net income at 1.36x in the latest annual period.
Evidence challenging the case
- Latest annual revenue changed -2.2% year over year.
- Operating margin changed -1.2 percentage points in the latest annual period.
- Net margin changed -1.2 percentage points in the latest annual period.
- Input and raw-material costs has repeated adverse evidence across 4 filings.
Questions before a position
- P/E is 24% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 75% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
884.436m+47.1%12m+7.3%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.4B+17.2%$17.71-1.9%
2022-12-31$2.8B+17.3%$27.77-6.7%
2023-12-31$2.7B-2.4%$40.44-4.5%
2024-12-31$2.8B+3.3%$48.22-0.3%
2025-12-31$2.7B-2.2%$44.44-1.8%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesmixed · 3 filings
“These cash flows included repurchases of our common stock of $125.6 million, principal payments of $50.0 million on the 3.78% senior notes, and cash dividends of $28.0 million, which were partially offset by net borrowings of $106.0 million on the revolving c…”10-Q · Apr 23, 2026 ↗
Demand and volumepositive · 1 filings
“The extension of drain intervals has generally offset increased demand due to higher vehicle population, new hardware, and more miles driven.”10-K · Feb 12, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.0× · EV/sales 3.3×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
884.43+2.3% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for NEU. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-04-23 against the comparable filing from 2025-04-24.
OperationscautiousEvidence score -3
liquidityconstructiveEvidence score +1
valuationpremium
What improved
- Operating cash flow covered net income at 1.05x, improving versus the comparable period.
What weakened
- Revenue decreased 4.5% versus the comparable filing period.
- Operating margin fell 1.4 percentage points.
- Gross margin fell 0.7 percentage points.
Filing receipts
“For the three months comparison periods of 2026 and 2025, the specialty materials segment reported higher net sales due to the acquisition of Calca in the fourth quarter of 2025, but lower operating profit primarily due to the impact of product shipment mix at AMPAC.”
“This increase was partially offset by the impact of product shipment mix at AMPAC.”
“The following table details the approximate components of the changes in petroleum additives net sales between the first three months of 2026 and 2025. (in millions) Three Months Period ended March 31, 2025 $ 645.5 Lubricant additives shipments (38.9) Fuel additives shipments 3.1 Selling prices, including product mix (9.9) Foreign currency impact, net 10.0 Period ended March 31, 2026 $ 609.8 When comparing the first three months of 2026 and 2025, lower lubricant additives shipments, partially offset by an increase in fuel additives shipments, resulted in the decrease in petroleum additives net sales.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind NEU
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
BRK-BBerkshire Hathaway Inc.competitorFeb 12, 2026 ▾
“In the lubricant additives submarket, our major competitors are The Lubrizol Corporation (a wholly-owned subsidiary of Berkshire Hathaway Inc.), Infineum (a joint venture between ExxonMobil Chemical and Shell plc), and Chevron Oronite Company LLC.”
IOSPInnospec Inc.competitorFeb 12, 2026 ▾
“In the gasoline detergent market, we compete mainly against BASF, Chevron Oronite Company LLC, Innospec Inc., and The Lubrizol Corporation.”
SHELShell plccompetitorFeb 12, 2026 ▾
“In the lubricant additives submarket, our major competitors are The Lubrizol Corporation (a wholly-owned subsidiary of Berkshire Hathaway Inc.), Infineum (a joint venture between ExxonMobil Chemical and Shell plc), and Chevron Oronite Company LLC.”
Filing peers
No filing peers are available for this name yet.
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What is moving around it
Live connections
NEU is currently a Leader in the organic co-movement group Petroleum Additives. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for NEU; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.