Rojo also emphasized capital allocation discipline, noting Stepan generated positive free cash flow in 2025, reduced net debt, and improved its leverage ratio from 2.8x to 2.5x by year-end.Despite what management described as a challenging macroeconomic environment for the chemical sector—including raw material inflation and tariff impacts—Rojo said the company delivered full-year adjusted EBITDA of $199 million , up 6% year over year. Organic volume increased 2% for the year, driven by growth in crop produ ...