NewMarket Corporation (NEU)

Current ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total current assets	US$ in thousands	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	879,398	826,933	829,434	856,146
Total current liabilities	US$ in thousands	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	308,895	280,478	283,479	259,973
Current ratio		2.85	3.21	3.27	3.16	2.81	2.76	2.60	2.71	1.91	3.49	3.83	4.03	2.87	2.77	3.38	2.98	2.85	2.95	2.93	3.29

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,039,570K ÷ $364,164K
= 2.85

The current ratio of NewMarket Corp., which represents the company's ability to cover its short-term liabilities with its current assets, has shown a generally positive trend over the past eight quarters. The current ratio ranged from 2.60 to 3.27 during this period.

The ratios consistently stayed above 2.0, indicating that NewMarket Corp. had more than enough current assets to cover its short-term liabilities in all quarters. This suggests that the company has a strong liquidity position and is capable of meeting its short-term obligations comfortably.

The upward trend observed in the current ratio is a positive sign, as it indicates an improvement in the company's liquidity position over time. The highest current ratio of 3.27 was recorded in Q2 2023, showing the company's ability to cover its short-term liabilities was particularly strong during that period.

Overall, based on the current ratio analysis, NewMarket Corp. appears to have a solid financial standing in terms of liquidity, with a consistent ability to meet its short-term obligations throughout the quarters under consideration.