olivLaw · US equity research
Koppers Holdings Inc. KOP
Lumber & Wood Products (No Furniture) · SIC 2400 · Vertical: Lumber and wood products (SIC 24xx)
Koppers Holdings is an integrated global provider of treated wood products, wood preservation chemicals and carbon compounds, with leading positions in railroad crossties and utility poles. Net sales in fiscal 2025 were 1,879.3 million USD, and in the second quarter of 2026 the company reported a net loss driven by 215.8 million USD of impairment, restructuring and plant closure costs.
At the close of 04 Nov 2026, Koppers Holdings Inc. (KOP) stock was 42.89 USD (+2.61% on the day), with market capitalisation 811.1 m USD, dividend yield 0.79%, beta 1.02, 52-week range 26.67–52.33 USD. Latest reported quarter (Q2 2026): revenue of 520.1 m USD (+3.0% YoY), net income of -147.5 m USD (−999.4% YoY), diluted EPS -7.71 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.6
- neutral
- Bollinger (20, 2)
- 39.78 – 44.79
- in the upper half of the band · %B 0.62 · band width 11.9%
- SMA 50 / 200
- 44.60 / 41.75
- mixed trend
- MACD (12, 26, 9)
- -0.85 / -1.07
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −8.8% | −1.1% | −7.7 pp | — |
| 3 months | −16.0% | −0.5% | −15.5 pp | — |
| 6 months | +3.1% | +4.4% | −1.3 pp | — |
| Year to date | +58.4% | +12.3% | +46.1 pp | — |
| 1 year | +51.9% | +13.5% | +38.3 pp | +4.1% |
| 3 years | +13.1% | +76.4% | −63.3 pp | −11.3% |
| 5 years | +28.2% | +63.7% | −35.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 554.3 m | 477.0 m | 456.5 m | 504.8 m | 485.3 m | 432.7 m | 455.3 m | 520.1 m |
| Cost of revenue | 433.1 m | 393.4 m | 350.7 m | 390.6 m | 368.3 m | 321.9 m | 368.7 m | 411.1 m |
| SG&A | 43.9 m | 44.0 m | 41.1 m | 39.5 m | 37.5 m | 36.8 m | 41.7 m | 40.9 m |
| Operating income | 49.7 m | 6.4 m | 27.0 m | 39.1 m | 51.8 m | 49.9 m | 22.0 m | -166.0 m |
| Depreciation & amortisation | 17.9 m | 15.3 m | 18.0 m | 18.0 m | 17.6 m | 20.0 m | 19.4 m | 17.9 m |
| Interest expense | 20.2 m | 18.3 m | 16.6 m | 17.3 m | 16.7 m | 15.5 m | 15.0 m | 15.0 m |
| Pre-tax income | 29.6 m | -14.7 m | -17.2 m | 23.9 m | 35.8 m | 38.7 m | 7.9 m | -180.0 m |
| Income tax | 10.6 m | -4.5 m | -3.3 m | 7.5 m | 12.0 m | 9.0 m | 800.0 k | -32.5 m |
| Net income | 22.8 m | -10.2 m | -13.9 m | 16.4 m | 23.8 m | 29.7 m | 7.1 m | -147.5 m |
| Diluted EPS | 1.09 | -0.49 ≈ | -0.68 | 0.81 | 1.17 | 1.46 ≈ | 0.35 | -7.71 |
| Operating cash flow | 29.8 m ≈ | 74.7 m | -22.7 m | 50.5 m ≈ | 49.6 m ≈ | 45.1 m | 46.3 m | 50.0 m ≈ |
| Capex | 15.4 m | 18.6 m | 14.3 m | 12.1 m | 12.0 m | 16.6 m | 11.4 m | 12.3 m ≈ |
| Dividends paid | 1.5 m ≈ | 1.3 m | 1.6 m | 1.6 m ≈ | 1.5 m ≈ | 1.7 m | 2.2 m | 1.6 m ≈ |
| Share repurchases | 10.4 m ≈ | 1.3 m | 19.1 m | 10.1 m ≈ | 4.1 m ≈ | 4.9 m | 29.0 m | 14.9 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.6 bn | 1.6 bn | 1.7 bn | 1.7 bn | 2.0 bn | 2.2 bn | 2.1 bn | 1.9 bn |
| Revenue YoY | +5.9% | +4.8% | +2.0% | +0.6% | +18.0% | +8.8% | −2.9% | −10.2% |
| Net income | 23.4 m | 66.6 m | 122.0 m | 85.2 m | 63.4 m | 89.2 m | 52.4 m | 56.0 m |
| Net income YoY | −19.6% | +184.6% | +83.2% | −30.2% | −25.6% | +40.7% | −41.3% | +6.9% |
| Diluted EPS | 1.10 | 3.16 | 5.71 | 3.88 | 2.98 | 4.14 | 2.46 | 2.74 |
| Diluted EPS YoY | −16.7% | +187.3% | +80.7% | −32.0% | −23.2% | +38.9% | −40.6% | +11.4% |
| net % | 1.5% | 4.1% | 7.3% | 5.1% | 3.2% | 4.1% | 2.5% | 3.0% |
| Free cash flow | -31.4 m | 78.1 m | 57.3 m | -22.0 m | -3.0 m | 25.6 m | 42.0 m | 67.5 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 38.0 m USD
- Financial debt
- 919.2 m USD
- Net debt
- 881.2 m USD
- Equity
- 574.3 m USD
- Total assets
- 1.9 bn USD
- Debt / equity
- 1.60x
- Current ratio
- 2.94x
- ROE
- 10.5%
- ROA
- 3.0%
- FCF margin
- 3.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.7 bn | 1.7 bn | 2.0 bn | 2.2 bn | 2.1 bn | 1.9 bn | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 1.3 bn | 1.3 bn | 1.6 bn | 1.7 bn | 1.7 bn | 1.4 bn | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 360.4 m ≈ | 334.1 m ≈ | 344.6 m ≈ | 424.5 m ≈ | 422.6 m ≈ | 447.8 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| SG&A | 143.1 m | 148.9 m | 153.3 m | 174.1 m | 179.3 m | 154.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | 156.7 m | 156.5 m | 137.7 m | 195.2 m | 148.2 m | 167.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 54.1 m | 57.7 m | 56.1 m | 57.0 m | 67.5 m | 73.6 m | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 210.8 m ≈ | 214.2 m ≈ | 193.8 m ≈ | 252.2 m ≈ | 215.7 m ≈ | 241.4 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 48.9 m | 40.5 m | 44.8 m | 71.0 m | 76.2 m | 66.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 110.1 m | 119.6 m | 95.4 m | 124.6 m | 69.3 m | 81.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 21.0 m | 34.5 m | 31.6 m | 34.8 m | 20.7 m | 25.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 122.0 m | 85.2 m | 63.4 m | 89.2 m | 52.4 m | 56.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | 5.71 | 3.88 | 2.98 | 4.14 | 2.46 | 2.74 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 21.4 m | 21.9 m | 21.3 m | 21.5 m | 21.3 m | 20.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | — | — | 0.20 | 0.24 | 0.28 | 0.32 | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 38.5 m | 45.5 m | 33.3 m | 66.5 m | 43.9 m | 38.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 175.1 m | 182.8 m | 215.7 m | 202.4 m | 191.8 m | 158.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 295.8 m | 313.8 m | 355.7 m | 395.7 m | 404.6 m | 411.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 564.5 m | 628.1 m | 636.8 m | 699.0 m | 680.6 m | 668.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 409.1 m | 489.1 m | 557.3 m | 631.7 m | 660.8 m | 650.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 297.8 m | 296.0 m | 294.0 m | 294.4 m | 317.1 m | 329.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 149.8 m | 131.5 m | 116.1 m | 102.2 m | 119.0 m | 106.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 1.6 bn | 1.7 bn | 1.7 bn | 1.8 bn | 1.9 bn | 1.9 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 154.1 m | 171.9 m | 207.4 m | 202.9 m | 179.1 m | 122.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 10.1 m | 2.0 m | 0 | 5.0 m | 4.9 m | 4.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 765.8 m | 781.5 m | 817.7 m | 835.4 m | 925.9 m | 914.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 292.1 m | 285.7 m | 324.0 m | 325.9 m | 325.8 m | 227.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 1.3 bn | 1.3 bn | 1.3 bn | 1.3 bn | 1.4 bn | 1.3 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 346.0 m | 410.8 m | 403.0 m | 503.0 m | 489.0 m | 574.3 m | SEC (XBRL)· 26 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 127.1 m | 103.0 m | 102.3 m | 146.1 m | 119.4 m | 122.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 69.8 m | 125.0 m | 105.3 m | 120.5 m | 77.4 m | 55.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 57.3 m ≈ | -22.0 m ≈ | -3.0 m ≈ | 25.6 m ≈ | 42.0 m ≈ | 67.5 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | 5.6 m | -89.5 m | -114.8 m | -116.0 m | -173.3 m | -72.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -128.7 m | -4.0 m | 4.8 m | 2.6 m | 35.7 m | -58.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | 0 | 0 | 4.2 m | 5.0 m | 5.9 m | 6.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 1.6 m | 11.5 m | 23.6 m | 20.1 m | 50.8 m | 38.2 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 30 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 811.1 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet20
- Growth0
- Quality11
- Returns100
- Valuation44
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.21 – 254.48 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)111.94 – 254.48 (Mid 159.86)WACC 7.1% · starting FCFF 190.9 m USD · terminal value share of EV 80%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)4.21 – 5.66 (Mid 4.82)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 30/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -2.6% | 0 (on a fixed band) | 13% |
| Net margin · Quality | -4.6% | 30 (vs peers) | 8% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -1.7% | 0 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | -2.8% | 0 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | 26.3x | 0 (on a fixed band) | 13% |
| Interest coverage · Balance sheet | -0.7x | 0 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 2.3x | 100 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 51.2x | 0 (on a fixed band) | 13% |
| FCF yield · Valuation | 17.1% | 100 (on a fixed band) | 10% |
| Shareholder yield (distributions) · Returns | 7.4% | 100 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | 5.0% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet20/100 · 3/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality11/100 · 2/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation44/100 · 2/3 factors with a value
Memo
KOPPERS HOLDINGS INC. (KOP). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.9 bn USD in 2025; YoY growth -10.2%; net margin -4.6%; ROE -19.0%; net debt/EBITDA 26.3x.
The estimated value range is 58.07–130.07 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 82.34 USD, the price of 42.89 USD leaves a potential of 92.0% (value / price − 1) and a margin of safety of 47.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 30/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.3x
- FCF yield: 17.1%
- Shareholder yield (distributions): 7.4%
- Payout ratio (FCF): 5.0%
- The price is below the estimated value range
What contradicts it
- ROIC: -2.6%
- Net margin: -4.6%
- Revenue CAGR 3Y: -1.7%
- EPS CAGR 3Y: -2.8%
- Net debt / EBITDA: 26.3x
- Interest coverage: -0.7x
- EV/EBITDA: 51.2x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, P/E (TTM).
Versus the vertical median
Lumber and wood products (SIC 24xx) · same major group (2-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TREXTrex Company, Inc. | 5.7 bn | 33.2 | 17.3% | 13.9% | +2.0% | +63% / −19% |
| FBINFortune Brands Innovations, Inc. | 5.6 bn | 44.6 | 5.5% | 2.9% | −3.2% | −8% / −31% |
| LPXLouisiana-Pacific Corporation | 5.5 bn | 80.8 | 3.9% | 2.7% | −7.9% | −4% / +29% |
| CVCOCavco Industries, Inc. | 5.2 bn | 28.8 | 16.6% | 7.7% | +11.4% | +14% / +140% |
| SKYChampion Homes, Inc. | 5.2 bn | 28.6 | 11.8% | 6.8% | +7.3% | +12% / +60% |
| UFPIUfp Industries, Inc. | 4.7 bn | 20.9 | 7.5% | 3.6% | −5.0% | −7% / −21% |
| KOPKoppers Holdings Inc. | 811.1 m | — | -19.0% | -4.6% | −10.2% | +52% / +13% |
| LEGHLegacy Housing Corporation | 755.8 m | 11.9 | 11.4% | 30.1% | −10.7% | +59% / +42% |
| JELDJELD-WEN Holding, Inc. | 94.6 m | — | -454.4% | -5.3% | −14.9% | −59% / −93% |
| NWGLCL Workshop Group Ltd | 7.3 m | — | -64.0% | -40.5% | −15.4% | −96% / −99% |
| WFGWest Fraser Timber Co. Ltd. | — | — | -14.6% | -17.2% | −11.5% | +13% / −4% |
1- and 3-year price returns: for KOP from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Koppers Holdings is an integrated global provider of treated wood products, wood preservation chemicals and carbon compounds, with leading positions in railroad crossties and utility poles. Net sales in fiscal 2025 were 1,879.3 million USD, and in the second quarter of 2026 the company reported a net loss driven by 215.8 million USD of impairment, restructuring and plant closure costs.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- High indebtednesshigh
Total debt and covenants in the credit facility could restrict investment and shareholder distributions 1.
- Raw material volatilityhigh
Prices for wood, copper and coal tar can swing sharply, and the company cannot always pass these costs on to customers 1.
- Customer concentrationmedium
Top customers account for a significant share of sales, and losing one could hurt profitability 1.
- Environmental and legal exposuremedium
The company may face compliance costs or lawsuits tied to environmental regulation 1.
- Tariff and geopolitical riskmedium
Tariffs and sanctions could affect suppliers and customers in Canada, Denmark, Mexico and China 1.
Investment thesis
What would need to be true (bull case)
- If the Catalyst transformation and network optimization deliver the targeted savings, margins could gradually recover and cash flow could support debt reduction 3.
- Rising utility pole demand linked to datacenters could give medium-term support to the RUPS segment 1.
- The PC leadership and vertical integration in CMC and RUPS could sustain supply advantages over competitors 1.
What would break the thesis
What to watch
- Trend of adjusted EBITDA margin and the 2026 guidanceQ3 2026
- Progress on the Stickney closure and RUPS network optimization2026
- Reduction of total debt and free cash flow generationnext 10-K
- Impact of import tariffs on raw material costs2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Koppers operates three principal segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC) and Carbon Materials and Chemicals (CMC) 1. The company presents itself as the largest supplier of railroad crossties to Class I railroads in North America and the second largest producer of utility poles in the United States 1. The RUPS and CMC segments are vertically integrated, with creosote produced in CMC largely consumed internally in tie treating 1.
The core activity relies on a network of wood treating plants located near timber sources and the rail lines of major customers 1. The company buys hardwood, scrap copper and coal tar, raw materials whose prices and availability are sensitive 1.
In February 2026 Koppers decided to idle production at two facilities, in Vance (Alabama) and Florence (South Carolina), to optimize its network and reduce operating costs 1. In the second quarter of 2026 the company accelerated the closure of its CMC plant in Stickney, Illinois 3.
Segments
Railroad and Utility Products and Services (RUPS)
The RUPS segment sells treated crossties to railroads in the United States and Canada and utility poles to electric and telephone utilities 1. In the second quarter of 2026 sales declined slightly, with higher utility pole volumes offset by lower crosstie prices 3.
Market context
North American crosstie demand has been in the range of 18 to 22 million crossties per year, and the 2026 estimate is close to the 2025 level 1. Utility pole demand is expected to grow, driven mainly by datacenter construction for artificial intelligence 1. The wood preservation market depends on homeowner renovation spending, which Harvard's index projects to ease later in 2026 1.
The coal tar and carbon pitch market is shrinking over the long term as global coke-based steel output declines outside Asia 1. Aluminum smelting is moving toward emerging economies where the company has less presence 1.
Trends
- Rising demand for utility polestailwind
Datacenter build-out for artificial intelligence and grid modernization could support RUPS volumes over the medium term 1.
- Slower renovation spendingheadwind
If homeowner renovation spending eases after 2026, demand for PC wood preservatives for residential lumber could slow 1.
- Declining coke-based steel outputheadwind
Lower availability of coal tar affects the CMC segment and could force further restructuring 1.
- Tariffs and trade uncertaintymixed
Import tariffs and possible retaliation could raise raw material costs, although the company intends to offset them where possible 1.
Competitive position
In crossties the company has one principal competitor, Stella-Jones Inc., plus several smaller regional competitors 1. In creosote and coal tar the principal competitor in North America and Europe is Rain Carbon Inc. 1.
The stated competitive advantage rests on vertical integration of creosote and treating plants located on customers' rail lines 1. In PC, the company relies on internal copper compound production and technical services for customers 1.
- Stella-Jones Inc.
Principal stated competitor in the North American railroad crosstie market 1.
- Rain Carbon Inc.
Principal stated competitor in creosote for North America and Europe 1.
- Smaller regional competitors
Several local competitors are mentioned across segments without detailed identification in the source 1.
- Global wood preservative suppliers
The company states it faces various competitors in each region where the PC segment operates 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report11 May 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report08 May 2026
- Current report08 May 2026Results of operations · Exit or disposal costs · Departure or appointment of officers · Shareholder vote · Regulation FD disclosure · Financial statements and exhibits
- Current report (amendment)07 May 2026Departure or appointment of officers · Financial statements and exhibits
- Proxy statement27 Mar 2026
- Current report (amendment)18 Mar 2026Departure or appointment of officers · Financial statements and exhibits
- Annual report26 Feb 2026
- Current report26 Feb 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Koppers Holdings Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Koppers Holdings Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Koppers Holdings Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.