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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
$7.5B
P/E ratio
16×
Div yield
1.5%
EPS (TTM)
$49
Profit margin
17%
Rev. growth
+1%
Revenue
$2.8B
Free cash flow
$450M
In plain English
NewMarket is the holding company behind Afton Chemical and Ethyl — one of a handful of firms worldwide that make the additive packages blended into almost every engine oil and fuel. It sells invisible chemistry, not finished oil: a few drops of Afton's package per litre is what lets a modern lubricant protect an engine. A 2024 deal for AMPAC added solid-rocket-motor additives for space and defense.
In simple terms
Chemistry the whole oil industry buys
NewMarket sits in the middle of the oil chain. Refiners make base oil; NewMarket's Afton makes the tiny additive package that turns that base oil into a lubricant that protects an engine; independent blenders mix the two and sell it under their own brands. Only four companies really do this at scale.
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