Quaker Chemical Corp (KWR) 2025 Annual Report: Key Investor Insights

Overview

Quaker Chemical Corp, a leading provider in the “Miscellaneous Products of Petroleum & Co” sector, has released its annual 10-K report for the fiscal year ended December 31, 2025. The company is headquartered at One Quaker Park, 901 Hector Street, Conshohocken, PA, and is listed on the New York Stock Exchange under the trading symbol KWR.

Key Financial Highlights

• Aggregate Market Value: The market value of voting and non-voting common equity held by non-affiliates as of June 30, 2025, was \$1,514,771,520.
• Shares Outstanding: As of February 16, 2026, there are 17,335,075 shares of Common Stock outstanding (\$1.00 par value).
• Stock Exchange: Shares are traded on the New York Stock Exchange.

Corporate & Regulatory Status

• Well-Known Seasoned Issuer: Quaker Chemical is classified as a well-known seasoned issuer, indicating strong compliance and market presence.
• Reporting Compliance: The company has filed all required reports under Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and has submitted all Interactive Data Files as required by Regulation S-T.
• Internal Controls: The company’s management assessment of the effectiveness of internal controls over financial reporting has been attested by its registered public accounting firm under Section 404(b) of the Sarbanes-Oxley Act.
• Error Corrections: No corrections of errors to previously issued financial statements or restatements requiring recovery analysis of incentive-based compensation were indicated.
• Shell Company Status: Quaker Chemical is not a shell company.

Shareholder & Price-Sensitive Information

• Share Repurchase Programs: The report references the existence of share repurchase programs, including the “A2024 Share Repurchase Program” and other equity compensation plans. These programs can impact share count and market value and may be price sensitive.
• Business Acquisitions: The company disclosed business acquisitions, such as “Dipsol Chemicals Co Ltd” and “Natech Ltd”. The integration and performance of these acquired entities may affect future financial results and shareholder value.
• Segment Reporting: Quaker Chemical provides detailed segment reporting by product lines (e.g., Metal Removal Fluids, Rolling Lubricants, Hydraulic Fluids) and geographical regions (Americas, EMEA, Asia Pacific, China, Other Non-US including China). This transparency enables investors to assess regional and product-specific performance and risks.
• Customer Concentration Risks: The company highlights customer concentration risks, including top five customer exposures and concentration by product line and geographical benchmarks. This is a critical factor for investors as changes in major customer relationships could materially impact sales.
• Intangible Assets and Investments: Disclosure of intangible assets (e.g., technology-based assets, trademarks, customer relationships) and equity method investments (e.g., Houghton Korea, Kelko Panama, Nippon Quaker Japan) signal ongoing investments in intellectual property and joint ventures that may affect long-term growth and profitability.
• Derivative Instruments: The company uses interest rate swaps, currency swaps, and foreign exchange forwards to manage financial risks. These instruments can affect reported earnings and cash flows, and may become price-sensitive in volatile markets.

Corporate Governance & Executive Information

• Portions of the definitive Proxy Statement for the 2026 Annual Meeting of Shareholders are incorporated by reference into Part III of the report. This includes details on directors, executive officers, executive compensation, security ownership, and related party transactions.
• Quaker Chemical maintains robust corporate governance practices, including attestation of internal controls, and does not use the extended transition period for complying with new or revised financial accounting standards.

Summary for Investors

• Potential Share Price Drivers:
  • Share repurchase programs and equity compensation plans may reduce outstanding shares and increase EPS.
  • Business acquisitions and integration of new subsidiaries could drive revenue growth or pose execution risks.
  • Customer concentration and geographic diversification are key risk factors that could impact future results.
  • Financial instrument usage (derivatives) may introduce earnings volatility.
• Key Risks:
  • Dependence on major customers and specific product lines.
  • Exposure to regional economic conditions and foreign exchange movements.
  • Integration risks related to acquisitions.
  • Regulatory compliance and changes in accounting standards.

Table of Contents

• Part I: Business (Page 2)
• Mine Safety Disclosures (Page 20)
• Information About Executive Officers (Page 21)
• Part II: Market for Common Equity, Stockholder Matters, Issuer Purchases of Equity Securities (Page 24)
• Management’s Discussion and Analysis of Financial Condition and Results of Operations (Page 26)
• Quantitative and Qualitative Disclosures About Market Risk (Page 41)
• Financial Statements and Supplementary Data (Page 44)
• Changes in and Disagreements With Accountants (Page 96)
• Disclosure Regarding Foreign Jurisdictions Preventing Inspections (Page 97)
• Directors, Executive Officers and Corporate Governance (Page 97)
• Executive Compensation (Page 97)
• Security Ownership of Certain Beneficial Owners and Management (Page 97)
• Certain Relationships and Related Transactions, Director Independence (Page 97)

Conclusion

The 2025 annual report for Quaker Chemical Corp provides crucial information for investors regarding financial health, compliance, business risk, acquisitions, and governance. Key areas that could affect share price include acquisitions, customer concentration, share repurchase activities, and the use of derivatives. Investors should monitor these developments closely for their potential impact on future performance.

Disclaimer: This article is a summary and interpretation of Quaker Chemical Corp’s 2025 10-K annual report. It is intended for informational purposes only and does not constitute investment advice. Investors should review the full SEC filing and consult with financial advisors before making investment decisions. The information presented may be subject to change and should not be relied upon as the sole basis for investment.

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