NewMarket (NewMarket) Total Inventories

: $456 Mil (As of Dec. 2023)

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NewMarket's total inventories for the quarter that ended in Dec. 2023 was $456 Mil. NewMarket's average total inventories from the quarter that ended in Sep. 2023 to the quarter that ended in Dec. 2023 was $480 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. NewMarket's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $-64.19.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. NewMarket's Days Inventory for the three months ended in Dec. 2023 was 93.91.

Inventory Turnover measures how fast the company turns over its inventory within a year. NewMarket's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.97.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. NewMarket's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.75.

NewMarket Total Inventories Historical Data

The historical data trend for NewMarket's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

NewMarket Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

365.94

401.03

498.54

631.38

456.23

NewMarket Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Total Inventories																631.38	566.14	537.38	503.41	456.23

NewMarket Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

NewMarket (NYSE:NEU) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

NewMarket's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(111.936	+	0.75 * 368.24	+	0.5 * 456.234	-	1231.81
-	0	-	0)	/	9.59009
=	-64.19

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

NewMarket's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	479.8225	/	466.224	*	365 / 4
	=	93.91

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

NewMarket's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	466.224	/	479.8225
	=	0.97

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

NewMarket's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	479.8225	/	643.35
	=	0.75

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

NewMarket Total Inventories Related Terms

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NewMarket (NewMarket) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » NewMarket Corp (NYSE:NEU) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

UG9:Germany

Address

330 South Fourth Street, Richmond, VA, USA, 23219-4350

Website

https://www.newmarket.com

NewMarket Corp is a holding company that, through its subsidiaries, manufactures and sells petroleum additives. Petroleum additives are used in lubricating oils and fuels to enhance their performance in machinery, vehicles, and other equipment. It comprises two broad product applications. Lubricant additives are formulated chemical solutions that, when blended with base fluids, improve the efficiency, durability, performance, and functionality of mineral oils, synthetic oils, and biodegradable fluids. Fuel additives are chemical components that help oil refiners meet fuel specifications or formulated packages that improve the performance of gasoline, diesel, biofuels, and other fuels. More revenue comes from the United States than any other geographic region.

Executives

Lowell Simmons Ukrop	director	330 SOUTH 4TH ST, RICHMOND VA 23219
James E Rogers	director	1021 EAST CARY STREET, PO BOX 2350, RICHMOND VA 23218-2350
Gail Ridgeway	officer: Controller	330 SOUTH 4TH STREET, RICHMOND VA 23219
Ting Xu	director	330 S 4TH ST, RICHMOND VA 23219
Jewett Bryce Dickinson Iii	officer: VP and General Counsel	330 SOUTH 4TH STREET, RICHMOND VA 23219
Hazelgrove Bruce R Iii	officer: VP - Corporate Resources	330 SOUTH FOURTH STREET, RICHMOND VA 23219
Thomas E Gottwald	director, officer: President & CEO	330 SOUTH FOURTH STREET, RICHMOND VA 23219
Regina A Harm	officer: President Afton Chemical Corp	330 SOUTH FOURTH STREET, RICHMOND VA 23219
Cameron D. Warner	officer: Treasurer	330 SOUTH FOURTH STREET, RICHMOND VA 23219
Robert A. Shama	officer: President Afton Chemical Corp	330 SOUTH FOURTH STREET, RICHMOND VA 23219
Harris H Hiter Iii	director	330 SOUTH FOURTH STREET, RICHMOND VA 23219-4350
Brian D Paliotti	officer: Vice President & CFO	330 SOUTH 4TH STREET, RICHMOND VA 23219
David A Fiorenza	officer: Vice President and Treasurer
William J Skrobacz	officer: Controller	330 SOUTH FOURTH STREET, RICHMOND VA 23219
Patrick D Hanley	director	1000 SEMMES AVE, RICHMOND VA 23224