NewMarket Corporation (NEU)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	2,786,558	2,775,261	2,717,464	2,692,366	2,698,419	2,737,628	2,766,527	2,805,036	2,764,799	2,658,807	2,584,965	2,452,047	2,356,110	2,307,324	2,197,986	2,018,129	2,010,931	2,017,595	2,060,543	2,213,096
Total current assets	US$ in thousands	77,476	1,137,630	1,115,240	1,119,320	1,039,570	1,065,590	1,140,100	1,131,560	1,192,120	1,174,100	1,160,960	1,114,330	1,388,170	1,366,860	1,423,470	1,352,470	898,078	854,362	790,024	930,934
Total current liabilities	US$ in thousands	374,478	401,953	419,516	390,794	364,164	332,204	349,038	358,496	423,887	426,135	446,634	411,699	725,087	391,397	372,125	335,853	312,455	308,899	233,983	312,912
Working capital turnover		—	3.77	3.91	3.70	4.00	3.73	3.50	3.63	3.60	3.55	3.62	3.49	3.55	2.37	2.09	1.99	3.43	3.70	3.71	3.58

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,786,558K ÷ ($77,476K – $374,478K)
= —

The working capital turnover of NewMarket Corporation has fluctuated over the past few years. The ratio indicates how efficiently the company is using its working capital to generate sales revenue.

From March 31, 2020, to December 31, 2021, the working capital turnover ranged from 1.99 to 3.70. This suggests some variability in how effectively the company was managing its working capital during this period.

From March 31, 2022, to December 31, 2024, the working capital turnover remained relatively stable, averaging around 3.70. This indicates that the company's efficiency in converting working capital into sales revenue improved and remained consistent during this period.

However, it is worth noting the absence of data for December 31, 2024. Overall, the trend suggests that NewMarket Corporation has been able to maintain a healthy level of working capital turnover in recent years, indicating efficient utilization of its working capital resources.