NEWMARKET CORP
NEU · Industrial Organic Chemicals · 9.2M shares · -4%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $40M (gross $43M, SBC $3M)
Reference price $619.21 · est. market cap ~$5.7B — last insider purchase, 2026-02-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A85Dominant global lubricant/fuel-additives franchise (Afton) with top-decile margins, returns and cash generation plus a growing aerospace specialty-materials arm.
Strengths
- Top-decile operating margin (94.7th), net margin (94th), ROA (95.7th) and FCF (100th pct); ROE ~23.5%
- Wide moat: long-term multinational customer relationships, deep R&D, scale; strong interest coverage (13.7x, 87th pct)
Risks
- Net sales down 2.2% and net income down ~9% on softer volumes and low-margin business pruning
- Customer/end-market concentration in lubricant and fuel industries; some single-source raw materials
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~10% of revenue from one customer/distributor — No single customer accounted for 10% or more of our total net sales in 2025, 2024, or 2023
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$247,684, last 6mo) Form 4 ↗
- Buying back stockNet buyback — share count -4%/yr over 3y
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
31.5%
Operating margin
20.0%
Net margin
15.4%
Return on equity
23.5%
Return on assets
12.0%
ROIC
16.1%
Revenue growth (QoQ)
5.4%
Net-income growth
-9.4%
Debt / equity
0.5×
Net debt / EBITDA
1.2×
Interest coverage
13.7×
Current ratio
2.5×
Free cash flow
$491M
EBITDA
$666M
Tangible book value
$1.8B
Cash & investments
$78M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-04 | GOTTWALD THOMAS E | Gift | 1.5K | — |
| 2026-02-24 | Xu Ting | Buy | 400 | $619.21 |
| 2026-02-19 | FITZGERALD TIMOTHY K | Tax withheld | 34 | $607.04 |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 60 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 1.3K | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 60 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 120 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 120 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 150 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 120 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 150 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 180 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 180 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 180 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 180 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 120 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 180 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 180 | — |
| 2026-02-18 | GOTTWALD THOMAS E | Gift | 180 | — |
| 2026-02-18 | GOTTWALD BRUCE C | Gift | 3.0K | — |
| 2026-02-05 | Hazelgrove Bruce R III | Grant | 475 | — |
| 2026-02-05 | Hazelgrove Bruce R III | Tax withheld | 153 | $714.88 |
| 2026-02-05 | Jewett Bryce Dickinson III | Grant | 415 | — |
| 2026-02-05 | Jewett Bryce Dickinson III | Tax withheld | 136 | $714.88 |
| 2026-02-05 | Paliotti Brian D | Grant | 535 | — |
| 2026-02-05 | Paliotti Brian D | Tax withheld | 171 | $714.88 |
| 2026-02-05 | GOTTWALD THOMAS E | Grant | 655 | — |
| 2026-02-05 | GOTTWALD THOMAS E | Tax withheld | 203 | $714.88 |
| 2025-11-25 | GOTTWALD THOMAS E | Gift | 46K | — |
| 2025-11-24 | GOTTWALD THOMAS E | Gift | 51 | — |
| 2025-11-24 | GOTTWALD THOMAS E | Gift | 51 | — |
| 2025-11-24 | GOTTWALD THOMAS E | Gift | 51 | — |
| 2025-11-24 | GOTTWALD THOMAS E | Gift | 51 | — |
| 2025-09-18 | Xu Ting | Gift | 330 | — |
| 2025-09-05 | GOTTWALD BRUCE C | Gift | 2.4K | — |
| 2025-08-25 | GOTTWALD THOMAS E | Gift | 315 | — |
| 2025-07-01 | Harris H Hiter III | Grant | 144 | — |
| 2025-07-01 | GAMBILL MARK M | Grant | 144 | — |
| 2025-07-01 | Ukrop Lowell Simmons | Grant | 144 | — |
| 2025-07-01 | Xu Ting | Grant | 144 | — |
| 2025-07-01 | ROGERS JAMES E | Grant | 144 | — |
| 2025-06-27 | GOTTWALD THOMAS E | Gift | 264 | — |
| 2025-05-20 | GOTTWALD THOMAS E | Gift | 1.6K | — |
| 2025-05-12 | Hazelgrove Bruce R III | Sell | 311 | $642.43 |
| 2025-04-22 | GOTTWALD THOMAS E | Gift | 198 | — |
| 2025-04-22 | GOTTWALD THOMAS E | Gift | 132 | — |
| 2025-04-22 | GOTTWALD BRUCE C | Gift | 198 | — |
| 2025-04-22 | GOTTWALD THOMAS E | Gift | 198 | — |
| 2025-04-22 | GOTTWALD THOMAS E | Gift | 33 | — |
| 2025-04-22 | GOTTWALD THOMAS E | Gift | 33 | — |
| 2025-04-22 | GOTTWALD THOMAS E | Gift | 66 | — |
| 2025-04-22 | GOTTWALD THOMAS E | Gift | 66 | — |
| 2025-04-22 | GOTTWALD THOMAS E | Gift | 132 | — |
| 2025-02-27 | GOTTWALD THOMAS E | Tax withheld | 230 | $563.12 |
| 2025-02-27 | GOTTWALD THOMAS E | Grant | 610 | — |
| 2025-02-27 | Paliotti Brian D | Grant | 500 | — |
| 2025-02-27 | Paliotti Brian D | Tax withheld | 151 | $563.12 |
| 2025-02-27 | Hazelgrove Bruce R III | Grant | 445 | — |
| 2025-02-27 | Hazelgrove Bruce R III | Tax withheld | 134 | $563.12 |
| 2025-02-25 | FITZGERALD TIMOTHY K | Tax withheld | 23 | $562.73 |
| 2025-02-05 | PIETRANTONI ANN P | Grant | 30 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 1.4K | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 150 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 150 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 75 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 150 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 75 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 75 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 75 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 75 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 75 | — |
| 2025-01-21 | GOTTWALD THOMAS E | Gift | 150 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-04-23 | Shareholder voteOtherExhibits | filing ↗ |
| 2026-04-22 | ResultsExhibits | filing ↗ |
| 2026-02-26 | OtherExhibits | filing ↗ |
| 2026-02-26 | Exec/director changeExhibits | filing ↗ |
| 2026-02-18 | Exec/director change | filing ↗ |
| 2026-02-11 | ResultsExhibits | filing ↗ |
| 2025-12-09 | Exec/director change | filing ↗ |
| 2025-11-05 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-04-23 | 2026-04-23 | 0001193125-26-173975 ↗ |
| 10-Q | 2026-04-23 | 2026-03-31 | 0001282637-26-000009 ↗ |
| 8-K | 2026-04-22 | 2026-04-22 | 0001282637-26-000008 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001193125-26-077261 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001193125-26-077235 ↗ |
| 8-K | 2026-02-18 | 2026-02-18 | 0001193125-26-057420 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0001282637-26-000005 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001282637-26-000003 ↗ |
| 8-K | 2025-12-09 | 2025-12-09 | 0001193125-25-312832 ↗ |
| 8-K | 2025-11-05 | 2025-10-31 | 0001193125-25-267201 ↗ |
| 10-Q | 2025-10-31 | 2025-09-30 | 0001282637-25-000024 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001193125-25-258809 ↗ |