Koppers Holdings (KOP) FY2025 results: revenue $1.9 billion, down 10.2% on the year
Koppers Holdings Inc. (KOP) reported revenue of $1.9 billion for fiscal 2025, the year ended 31 December 2025, down 10.2% on the year before. Net income was $56 million, up 6.9%, and diluted earnings per share $2.74. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.
Revenue
$1.9 billion
-10.2% on the year
FY2018FY2025
Operating margin
8.9%
7.1% a year earlier
FY2018FY2025
Net income
$56 million
+6.9% on the year
FY2018FY2025
Diluted EPS
$2.74
+11.4% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 6 new.
Quarterly sales fell 9.3 percent: Net sales were $432.7 million against $477.0 million. Adjusted EBITDA was $53.2 million against $55.2 million, down 3.6 percent.
Full-year sales fell 10.2 percent: Full-year net sales were $1.88 billion against $2.09 billion. Adjusted EBITDA was $256.7 million against $261.6 million, and adjusted EPS $4.07 against $4.11.
Railroad and utility margin rose: RUPS net sales fell 3.2 percent to $208.7 million. Its adjusted EBITDA margin was 10.4 percent against 8.1 percent a year earlier.
Performance Chemicals sales fell on share: PC net sales fell 13.6 percent to $127.8 million, which management linked to a shift in U.S. market share. Adjusted EBITDA margin was 21.8 percent against 19.3 percent.
Carbon Materials earnings fell sharply: CMC adjusted EBITDA fell 60.4 percent to $3.6 million on net sales down 15.2 percent to $96.2 million. Adjusted EBITDA margin was 3.7 percent against 8.0 percent.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
122
119
146
+2.6%
Capital expenditure
55.0
77.4
120
-28.9%
Free cash flow
67.5
42.0
25.6
+60.7%
Free cash flow margin
3.6%
2.0%
1.2%
Cash from investing
-72.7
-173
-116
Cash from financing
-58.5
35.7
2.6
Depreciation and amortisation
73.6
67.5
57.0
+9.0%
Share-based compensation
13.8
20.8
17.3
-33.7%
Buybacks
38.2
50.8
20.1
-24.8%
Dividends paid
6.4
5.9
5.0
+8.5%
Dividend per share
$0.32
$0.28
$0.24
+14.3%
Diluted shares, weighted
20m
21m
22m
-4.2%
Shares outstanding at period end
19m
20m
21m
-4.1%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
574
489
499
+17.5%
Non-controlling interest
0.3
0.3
4.1
0.0%
Debt
928
940
849
-1.2%
Operating lease liabilities
76.1
64.4
67.4
+18.2%
Other liabilities
308
397
416
-22.5%
Total liabilities and equity
1,887
1,890
1,836
-0.2%
Fixed assets
651
661
632
-1.5%
Goodwill
329
317
294
+3.9%
Intangible assets
107
119
102
-10.3%
Cash and equivalents
38.0
43.9
66.5
-13.4%
Receivables
159
192
202
-17.3%
Inventory
411
405
396
+1.6%
Other assets
192
153
143
+25.4%
Total assets
1,887
1,890
1,836
-0.2%
10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.