Quaker Chemical (KWR) Cash Flow: Operating & Free Cash Flow

Quaker Chemical (KWR) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Quaker Chemical generated $136.45M of operating cash flow and spent $55.86M on capital expenditures. That left free cash flow of $80.60M, down 62.7% from $215.86M a year earlier, or 4.3% of revenue. It returned $75.91M to shareholders through $34.39M in dividends and $41.52M in share buybacks.

Quaker Chemical Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Quaker Chemical Corporation (KWR) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-2.47	116.73	112.87	-15.84	121.43	39.79	31.88	59.81	22.30
Depreciation & Amortization	93.45	84.12	81.99	80.47	86.55	83.25	44.90	19.71	19.97
Deferred Income Tax	-30.43	-10.03	-12.09	-16.95	-13.43	-37.21	-22.43	-0.07	18.76
Stock Based Compensation	0.00	14.99	14.61	11.67	11.04	11.00	4.86	3.72	4.19
Change in Working Capital	-43.52	-3.66	81.47	-117.38	-136.35	29.57	6.94	-9.79	-2.78
Change in Accounts Receivable	24.23	24.98	32.17	-59.11	-67.47	17.17	19.93	-2.82	-1.94
Change in Inventory	-12.24	-3.24	49.75	-29.86	-84.43	-3.85	10.84	-10.55	-6.14
Change in Accounts Payable	-30.27	-8.64	0.00	0.00	0.00	0.00	-22.45	0.19	12.38
Change in Other Working Capital	-25.24	-16.76	-0.46	-28.41	15.56	16.25	-1.37	3.39	-7.09
Other Operating Activities	119.41	2.44	0.18	99.84	-20.31	52.00	16.22	5.39	2.33
Net Cash from Operating Activities	136.45	204.58	279.02	41.79	48.93	178.39	82.37	78.78	64.76
Investing Activities
Capital Expenditures	-55.86	11.28	-38.80	-28.54	-21.46	-17.90	-15.55	-12.89	-10.87
Acquisitions	-161.21	-39.30	0.00	-13.12	-42.42	-56.23	-893.41	-0.50	-5.36
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.71
Other Investing Activities	2.95	-48.40	11.18	1.46	14.74	2.75	0.33	1.03	2.34
Net Cash from Investing Activities	-214.12	-76.42	-27.62	-40.19	-49.13	-71.39	-908.63	-12.36	-13.90
Financing Activities
Debt Repayment	139.13	-37.86	-204.21	58.89	14.24	-49.76	888.34	-26.79	-2.85
Common Stock Issued	-1.39	0.00	0.00	0.00	0.00	0.00	1.37	0.08	3.90
Common Stock Repurchased	-41.52	-49.25	0.00	0.00	0.00	0.00	-1.37	0.00	-5.86
Dividends Paid	-34.39	-33.17	-31.65	-30.10	-28.60	-27.56	-21.83	-19.32	-18.61
Other Financing Activities	0.00	-2.38	-2.75	-4.11	0.89	2.07	-22.38	-0.80	-31.79
Net Cash from Financing Activities	61.83	-122.66	-238.61	24.67	-13.47	-75.26	844.13	-46.91	-55.21
Summary
Effect of Forex Changes on Cash	6.78	-11.14	0.77	-10.49	-3.06	6.59	1.26	-6.14	5.40
Net Change in Cash	-9.05	-5.65	13.56	15.79	-16.72	38.34	19.13	13.38	1.06
Cash at Beginning of Period	188.88	194.53	180.96	165.18	181.90	143.56	124.43	111.05	88.82
Cash at End of Period	179.83	188.88	194.53	180.96	165.18	181.90	143.56	124.43	89.88
Free Cash Flow	80.60	215.86	240.22	13.26	27.48	160.49	66.83	65.89	53.89
Supplemental Disclosures
Interest Paid	42.79	44.54	54.89	29.07	19.30	-	-	-	-
Income Taxes Paid	-	60.58	57.41	35.33	34.78	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Quaker Chemical Cash Flow

What is Quaker Chemical's free cash flow?

Quaker Chemical generated free cash flow of $80.60M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $136.45M minus $55.86M of capital expenditures. That was down 62.7% from $215.86M a year earlier. Free cash flow equaled 4.3% of revenue.

How much does Quaker Chemical spend on capital expenditures?

Quaker Chemical spent $55.86M on capital expenditures in fiscal 2025, compared with $11.28M a year earlier. That equals 40.9% of operating cash flow.

Does Quaker Chemical pay dividends or buy back shares?

Yes. In fiscal 2025 Quaker Chemical returned $34.39M in dividends and $41.52M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition