KWRNYSEMiscellaneous Products of Petroleum & CoalUS GAAP · USD

Quaker Houghton

Quaker Chemical Corp., doing business as Quaker Houghton, develops and supplies industrial process fluids and related chemical management services for heavy manufacturing. Its products are used in metalworking and metal production applications across steel, aluminum, automotive, aerospace, offshore energy, container, mining, and general industrial markets, with operations in more than 25 countries.

Ask about the company
Revenue1,889m USD
+2.7 %y/y
Operating profit (EBIT)53.0m USD
−72.8 %y/y
EBIT margin2.8%
−7.8 ppy/y
Net income-2.5m USD
−102.1 %y/y
Free cash flow80.6m USD
−50.5 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

05001,0001,5002,000m USD2020: 1,418 m USD2020: EBIT 59 m USD20202021: 1,761 m USD2021: EBIT 150 m USD20212022: 1,944 m USD2022: EBIT 52 m USD20222023: 1,953 m USD2023: EBIT 214 m USD20232024: 1,840 m USD2024: EBIT 195 m USD20242025: 1,889 m USD2025: EBIT 53 m USD20251,88953
RevenueOperating profit (EBIT)
Ask Clarifo about Quaker Houghton

Business

Share of revenue
Metalworking fluids19 %

Fluids used in cutting, forming, drawing, and machining operations.

Rolling lubricants18 %

Lubricants used in steel and aluminum rolling mills.

Hydraulic fluids12 %

Hydraulic and control fluids for industrial equipment and systems.

Surface solutions11 %

Chemistries for cleaning, treating, and preparing metal surfaces.

Other specialty process fluids40 %

Corrosion inhibitors, quenchants, greases, and niche industrial fluids.

Products

Reported · share of revenue
67.7%32.3%FY2025100 %
  • Metalworking and Other67.7 %
  • Metals32.3 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

The company sells primarily to industrial manufacturers that need process fluids embedded in production lines and metalworking operations. Its customer base includes steel, aluminum, automotive, aerospace, offshore energy, container, mining, industrial equipment, and durable goods producers, often through multi-site or global purchasing organizations. Customers buy for product performance, process consistency, technical service, and line efficiency rather than for commodity chemical supply alone.

Steel and aluminum producers

Buy rolling lubricants, metalworking fluids, and surface chemistries for high-volume production lines.

Automotive manufacturers and suppliers

Buy process fluids for machining, forming, stamping, and assembly-related metal operations.

Aerospace and industrial equipment

Buy specialized fluids where precision, cleanliness, and technical support matter.

Offshore, mining, and energy

Buy niche fluids such as offshore sub-sea energy control fluids and heavy-duty lubricants.

General metalworking and durable goods

Buy a broad mix of fluids and services for machining, cleaning, and maintenance.

Strategy

The company’s strategy centers on technical differentiation, customer-specific formulations, and embedded chemical management services that make it harder for customers to switch suppliers. It also emphasizes global reach, new business wins, and selective acquisitions to broaden product coverage and customer access across industrial end markets. Sustainability and operational execution are part of the model because customers increasingly expect process efficiency, compliance, and lower environmental impact.

Grow through technical service and customer-specific solutionsMedium term

Process fluids are sticky when tied to plant operations and service support.

Expand global footprint and end-market coverageMedium term

Industrial production is regional, so local presence improves service and access.

Use acquisitions to add capabilities and market reachMedium term

Acquisitions can broaden the product set and strengthen local positions.

Improve mix toward higher-value specialty applicationsLong term

Specialized fluids and services are more differentiated than commodity products.

Geography

Quaker Houghton organizes its business across three reportable regions: Americas, EMEA, and Asia/Pacific. The company operates in over 25 countries, with headquarters in Conshohocken, Pennsylvania, and a global footprint that supports local technical service and customer-specific formulations. Regional demand matters because the business is tied to industrial production volumes, customer plant locations, and foreign currency exposure.

Risks

Demand is tied to industrial production volumes in steel, aluminum, automotive, aerospace, and related markets, so downturns in those industries can quickly affect sales. The business also faces raw-material volatility, supply-chain disruption, tariff and trade-policy uncertainty, and product-liability or regulatory exposure because its formulations rely on many petrochemical and specialty inputs. International operations add foreign-exchange, tax, and country-specific compliance risk, while customer concentration can amplify the impact of a few large accounts.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Cyclical end-market demand1Raw-material price volatility2Tariffs and trade policy uncertainty3Product liability and regulatory exposure4Foreign exchange and international operations5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Cyclical end-market demandImpact: HighLikelihood: Medium

    Sales depend on production volumes in steel, aluminum, automotive, and aerospace.

    Exposure: Global industrial customers

  2. Raw-material price volatilityImpact: HighLikelihood: Medium

    Inputs include many crude-oil- and natural-gas-derived chemicals.

    ExposureApproximately 3000 raw materials
  3. Tariffs and trade policy uncertaintyImpact: MediumLikelihood: High

    Trade actions can disrupt supply chains and customer purchasing patterns.

    Exposure: Americas and EMEA mentioned in filings

  4. Product liability and regulatory exposureImpact: MediumLikelihood: Medium

    Specialty chemical manufacture and use can lead to claims, recalls, or compliance costs.

    ExposureEnvironmentalHealthSafety laws
  5. Foreign exchange and international operationsImpact: MediumLikelihood: Medium

    A large share of business is outside the U.S., creating translation and local-market risk.

    Exposure: Over 25 countries

Ask Clarifo about Quaker Houghton

Accounting

Judgemental items
Customer sales incentives and returns

These estimates affect net sales and reserve balances.

Impact: Can change reported revenue and receivables

Credit loss reserves

Customer insolvency can require specific reserves on trade receivables.

Impact: Affects bad-debt expense and working capital

Goodwill and intangible impairment

Acquired businesses and regional performance can trigger impairment charges.

Impact: Can create large non-cash charges

Acquisition-related amortization

Definite-lived intangibles and fair-value step-ups add recurring expense.

Impact: Reduces reported earnings after acquisitions

Hyperinflationary currency remeasurement

Argentina and Türkiye affiliates are subject to U.S. GAAP hyperinflation accounting.

Impact: Creates non-cash foreign exchange gains or losses

Similar listed companies

Publicly listed companies with a comparable business focus.

Ryerson Holding Corp

RYZ · Wholesale-Metals Service Centers & of fices

NewMarket Corp

NEU · Industrial Organic Chemicals

Imperial Oil Limited

IMO · Petroleum Refining

Eastman Chemical Company

EMN · Plastic Materials, Synth Resins & Nonvulcan Elastomers

Chevron Corporation

CVX · Petroleum Refining

Hawkins, Inc

HWKN · Wholesale-Chemicals & Allied Products

Last updated: 24/09/2026

Quaker Houghton (KWR) Revenue, Earnings & Financials 2025 – Clarifo