NEWMARKET CORPORATION vs Westlake Corporation, two Chemicals stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Fuel additives are NewMarket's quiet franchise: a 23.71% return on equity and a 15.25% net margin from chemistry dosed into fuels and reordered through the cycle. Westlake makes commodity chemicals and building products, and this downturn drove it to a negative 18.09% return and a negative 14.91% margin. NewMarket generated a 5.87% free-cash yield while Westlake burned cash at a negative 5.18%. The prices show the divide: NewMarket at 18.04 times earnings and 4.25 times book, Westlake with no earnings multiple and 1.08 times book, near liquidation math. NewMarket's 1.42% dividend comes straight from profit; Westlake's 2.75% is paid while it waits out the trough.
Comparison updated 2026-07-11.
| Metric | NEU | WLK |
|---|---|---|
| Price | $762.64 | $75.50 |
| Market cap | $7.1B | $9.7B |
| Sector | Chemicals | Chemicals |
| Stage | Mature | Mature |
| Implied growth (priced in) | -4.1% | — |
| P/E | 17.4 | — |
| P/B | 4.10 | 1.07 |
| P/S | 2.64 | 0.88 |
| EV/EBITDA | 12.2 | — |
| Revenue growth | -3.5% | -8.7% |
| Gross margin | 33.0% | 4.2% |
| Operating margin | 21.4% | -6.5% |
| Net margin | 15.3% | -14.9% |
| Return on equity | 23.7% | -18.1% |
| Return on assets | 11.7% | -8.3% |
| Return on invested capital | 15.4% | -9.0% |
| FCF yield | 6.1% | -5.3% |
| Dividend yield | 1.5% | 2.8% |
| Debt / equity | 0.54 | 0.67 |
| Current ratio | 2.55 | 2.17 |
| Altman Z (solvency) | 4.19 | 1.87 |
| Piotroski F (quality) | 7 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.