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KOP

Koppers Holdings Inc.

KOP

Koppers Holdings Inc. • NYSE
$29.67 ▲ 0.17% (+0.05)
Market Cap $581.95 M
52w High $39.46
52w Low $22.99
Dividend Yield 0.32%
P/E 35.75
Volume 93.98K
Outstanding Shares 19.61M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $485.3M ▼ $65.2M ▼ $23.8M ▲ 4.904% ▲ $1.21 ▲ $61.033M ▼
Q2-2025 $504.8M ▲ $75.1M ▼ $16.4M ▲ 3.249% ▲ $0.82 ▲ $74.7M ▲
Q1-2025 $456.5M ▼ $78.8M ▲ $-13.9M ▼ -3.045% ▼ $-0.68 ▼ $64.7M ▲
Q4-2024 $477M ▼ $77.2M ▲ $-10.2M ▼ -2.138% ▼ $-0.5 ▼ $39.6M ▼
Q3-2024 $554.3M $71.5M $22.8M 4.113% $1.12 $77.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $37.9M ▼ $1.895B ▼ $1.349B ▼ $545.6M ▲
Q2-2025 $38.4M ▲ $1.931B ▲ $1.404B ▲ $526.8M ▲
Q1-2025 $33.3M ▼ $1.891B ▲ $1.393B ▼ $498M ▲
Q4-2024 $43.9M ▼ $1.89B ▼ $1.401B ▼ $488.7M ▼
Q3-2024 $44.5M $1.96B $1.427B $532.3M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $23.8M ▲ $49.6M ▼ $800K ▲ $-50.6M ▼ $-500K ▼ $37.6M ▼
Q2-2025 $16.4M ▲ $50.5M ▲ $-21.7M ▼ $-25.4M ▼ $5.1M ▲ $38.4M ▲
Q1-2025 $-13.9M ▼ $-22.7M ▼ $-17.6M ▲ $28.7M ▲ $-10.6M ▼ $-37M ▼
Q4-2024 $-10.2M ▼ $74.7M ▲ $-18.9M ▼ $-52.7M ▼ $-600K ▲ $56.1M ▲
Q3-2024 $19M $29.8M $-12.8M $-23.2M $-4.4M $14.4M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Carbon Materials And Chemicals
Carbon Materials And Chemicals
 $250.00M ▲$100.00M ▼$100.00M ▲$110.00M ▲
Performance Chemicals
Performance Chemicals
 $320.00M ▲$10.00M ▼$10.00M ▲$-10.00M ▼
Railroad And Utility Products And Services
Railroad And Utility Products And Services
 $470.00M ▲$230.00M ▼$250.00M ▲$230.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has generally trended upward over the past few years, though the most recent year shows a small step back from the prior peak. Profitability is positive but not especially strong, with modest margins that leave limited cushion if conditions worsen. Operating profit and EBITDA have been relatively steady, suggesting the core business is fairly resilient, but net income and earnings per share have bounced around rather than showing a smooth upward path. Overall, Koppers is generating consistent but somewhat volatile earnings in a cyclical, industrial business where pricing, input costs, and demand shifts can matter a lot.

Balance Sheet

Balance Sheet The balance sheet shows a business that is asset-heavy and meaningfully leveraged. Total assets have inched higher over time, reflecting ongoing investment in plants, equipment, and working capital. Debt sits noticeably above the equity base, indicating a reliance on borrowing to fund operations and growth. Cash on hand is relatively low compared with the size of the business, which means Koppers depends on ongoing cash generation and access to credit rather than a large cash buffer. Equity has improved over the last several years, which is a positive sign, but the company still operates with a fairly geared capital structure, a point of risk if industry conditions weaken or interest costs rise.

Cash Flow

Cash Flow Koppers consistently generates positive cash flow from its operations, which is a key strength. However, the free cash flow left after capital spending is thin and somewhat uneven from year to year. The company spends heavily on capital projects, likely to maintain and upgrade its facilities and support growth. This reinvestment is a long‑term positive but does mean there is not a lot of spare cash once those needs are covered. Periods of weaker operating cash flow, combined with steady investment needs, can pressure liquidity and reinforce reliance on debt markets and bank lines.

Competitive Edge

Competitive Edge Koppers occupies a specialized niche in treated wood products and carbon compounds, serving critical infrastructure markets like utilities, railroads, and heavy industry. Its vertically integrated model—owning both the treatment chemicals and the treated wood product operations—offers clear advantages in cost control, supply reliability, and product consistency. This structure, combined with a global footprint and long‑standing customer relationships, creates a meaningful competitive moat that is not easy to replicate. At the same time, the company operates in markets that are cyclical and exposed to industrial and construction activity, and it faces capable rivals in wood treatment and specialty chemicals. Its edge appears to stem more from integration, service, and scale than from pure pricing power.

Innovation and R&D

Innovation and R&D Innovation is a key pillar of Koppers’ strategy. Its MicroPro wood treatment technology is a good example: it emphasizes environmental benefits, improved performance, and certifications that matter for regulators and customers. The company’s Global Technology Center works on new carbon products and coatings, aiming to tap into areas like advanced materials and potentially battery components. Koppers also leans into a circular, byproduct‑reuse model, which aligns with sustainability trends and can improve economics over time. Recent moves to expand in utility markets and explore advanced carbon applications show an intent to grow in more specialized, higher‑value segments. The main uncertainty is how quickly and profitably these innovations will scale in markets that are still developing and competitive.

Summary

Koppers is a mature, industrial specialty chemicals and wood products business with steady revenues, modest but positive profitability, and a meaningful competitive moat rooted in vertical integration and long customer relationships. The company’s balance sheet is workable but leveraged, and its cash generation, while consistently positive, is largely absorbed by ongoing capital investment, leaving only a slim free cash flow margin. Its strategic strengths lie in its integrated model, environmental and technology positioning, and focus on essential infrastructure markets. Key risks center on industry cyclicality, relatively thin margins, reliance on debt, and execution on new innovation and growth initiatives. Overall, this is an established, niche infrastructure supplier trying to steadily upgrade its portfolio and technology while managing the usual financial pressures of a capital‑intensive business.

NEWS

November 26, 2025 · 4:30 PM UTC

Koppers Management Participating in BofA Securities Leveraged Finance Conference

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November 17, 2025 · 7:55 AM UTC

Koppers Announces Participation in Southwest IDEAS Investor Conference

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November 7, 2025 · 7:55 AM UTC

KOPPERS REPORTS THIRD QUARTER 2025 RESULTS

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November 6, 2025 · 12:58 PM UTC

Koppers Holdings Inc. Declares Quarterly Cash Dividend

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November 5, 2025 · 4:30 PM UTC

Koppers Holdings Names Laura Posadas to Board

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