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Quaker Houghton KWR Surface solutions — Concentration risk (as a percent)

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Metal removal fluids
19%-15.2%
Rolling lubricants
18.3%-10.7%
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12.2%-14.1%

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Other financials

Income statement

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Revenue$480.5M+8.5%
Gross profit$176.7M+9.6%
Operating income$33.6M+21.6%
Net income$19.7M+52.2%
EPS (diluted)$1.13+54.8%

Balance sheet

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Cash & equivalents$169.7M-8.9%
Total debt$947.3M+17.4%
Total equity$1.4B-0.7%
Total assets$2.8B+5.2%

Cash flow

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Operating cash flow$3.8M+224%
CapEx$10.7M-13.6%
Free cash flow-$6.9M+55.3%

Valuation

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Market cap$2.92B+32.3%
Enterprise value$3.7B+22.6%
P/S1.5×+0.3×

Profitability

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Gross margin36.1%-0.6pp
Operating margin3.1%-6.1pp
Net margin-0.5%-7.1pp
FCF margin4.6%-2.2pp

Returns & leverage

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Return on equity-0.6%-9.4pp
Debt / equity0.7×+0.1×
Current ratio2.5×0.0×

Where this comes from

Reported directly by Quaker Houghton in its filing.

Tagged under the XBRL concept us-gaap:ConcentrationRiskPercentage1.

The source filing: Quaker Houghton’s 10-K, filed February 23, 2026.

Filed
Feb 23, 2026, 4:40 PM EST
Fiscal year
FY2025
Accession
0001628280-26-010694
Major Product Line202520242023
Metal removal fluids19.0%22.4%23.6%
Rolling lubricants18.3%20.5%19.5%
Hydraulic fluids12.2%14.2%14.1%
Surface solutions10.9%5.2%5.0%

Item 8. Financial Statements and Supplementary Data.

FAQ

What is Quaker Houghton's surface solutions — concentration risk (as a percent)?
Quaker Houghton (KWR) reported surface solutions — concentration risk (as a percent) of 2.7% in Q4 2025.
How has Quaker Houghton's surface solutions — concentration risk (as a percent) changed year-over-year?
Quaker Houghton's surface solutions — concentration risk (as a percent) increased by 109.6% year-over-year, from 1.3% to 2.7%.
What is the long-term trend for Quaker Houghton's surface solutions — concentration risk (as a percent)?
Over 2 years (2023 to 2025), Quaker Houghton's surface solutions — concentration risk (as a percent) has grown at a 47.6% compound annual growth rate (CAGR), from 5% to 10.9%.
What does surface solutions — concentration risk (as a percent) mean?
This metric represents the proportion of revenue or business activity within the Surface Solutions segment that is derived from a limited number of key customers or specific market channels. A higher percentage indicates increased vulnerability to the loss of a major client or a downturn in a specific niche market. Monitoring this concentration helps investors assess the stability and diversification of the segment's income streams.

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