Does QUAKER CHEMICAL CORPORATION have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores QUAKER CHEMICAL CORPORATION (KWR) 28.2 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 60, returns on capital 16, balance-sheet safety 0, capital discipline 26.

Is KWR stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $86.40 per share versus a recent price of $150.61 — 74% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has KWR's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 28.2 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

QUAKER CHEMICAL CORPORATION

KWR · Energy · $2.6B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power60

Median gross margin 36.0% over 10y, very stable.

Returns on capital16

Median ROIC 6.3%, above the 9% hurdle in 30% of years.

Balance-sheet safety0

Net debt/EBITDA 5.8x, interest coverage 1x.

Capital discipline26

Owner earnings -20.9%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

74% above value

Owner earnings (normalized): $134.8M
Est. intrinsic value / share: $86.40
Recent price: $150.61
Discount to value: 74% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

18 years of fundamentals

The business, in plain English

QUAKER CHEMICAL CORPORATION booked $1.9B of revenue in FY2025 in the Energy sector and kept 36.0% of it as gross profit — a solid-margin business by that measure. After every other cost, −0.1% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $451.5M (FY2009) to $1.9B (FY2025) — about 9.4% a year compounded over 16 years.

It earned 1.7% on invested capital in FY2025, with a median of 13.6% across 17 filed years. The Returns on Capital filter above scores it 16/100.

The balance sheet carried $870.6M of total debt in FY2025 against $7.5M of owner earnings — roughly 116.4 years of owner earnings to retire it all. Balance-Sheet Safety scores it 0/100.

Put together: Pricing Power is the strongest of the four filters (60/100) and Balance-Sheet Safety the weakest (0/100), which is how KWR lands at 28/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$1.9B FY2025

Gross marginRevenue kept after cost of goods36.0% FY2025

Return on invested capitalOperating profit on the capital employed1.7% FY2025

Owner earningsCash an owner could take out$7.5M FY2025

Gaps in a line mean that item isn’t in KWR’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale28.2 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — KWR has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Energy context

#6 of 7 scored Energy companies, ranked by Moat Score.

Nearest peers by Moat Score

#3MPC MARATHON PETROLEUM CORPORATION37.1 out of 100, No moatNo moat
#4CVI CVR ENERGY, INC32.7 out of 100, No moatNo moat
#5PBF PBF ENERGY INC.31.9 out of 100, No moatNo moat
#7DK DELEK US HOLDINGS, INC.22.7 out of 100, No moatNo moat

Compare KWR with its nearest peers →All Energy companies on the Index →

Common questions about KWR

Does QUAKER CHEMICAL CORPORATION have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores QUAKER CHEMICAL CORPORATION (KWR) 28.2 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 60, returns on capital 16, balance-sheet safety 0, capital discipline 26.
Is KWR stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $86.40 per share versus a recent price of $150.61 — 74% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has KWR's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 28.2 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell KWR. See the disclaimer.