Current Ratio
since 2005
Calculation
Albemarle Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1.89 | = | 5,186,917) | ÷ | 2,741,015) |
| Dec 31, 2021 | 1.07 | = | 2,007,981) | ÷ | 1,874,335) |
| Dec 31, 2020 | 1.22 | = | 2,206,184) | ÷ | 1,801,849) |
| Dec 31, 2019 | 1.58 | = | 2,225,109) | ÷ | 1,408,996) |
| Dec 31, 2018 | 1.69 | = | 1,998,421) | ÷ | 1,183,173) |
| Dec 31, 2017 | 2.06 | = | 2,477,563) | ÷ | 1,200,925) |
| Dec 31, 2016 | 2.90 | = | 3,306,618) | ÷ | 1,140,103) |
| Dec 31, 2015 | 1.13 | = | 1,831,003) | ÷ | 1,616,685) |
| Dec 31, 2014 | 2.94 | = | 3,348,850) | ÷ | 1,139,886) |
| Dec 31, 2013 | 3.40 | = | 1,482,915) | ÷ | 436,363) |
| Dec 31, 2012 | 3.66 | = | 1,407,313) | ÷ | 385,009) |
| Dec 31, 2011 | 3.38 | = | 1,355,620) | ÷ | 401,178) |
| Dec 31, 2010 | 3.70 | = | 1,348,198) | ÷ | 364,177) |
| Dec 31, 2009 | 2.92 | = | 1,032,087) | ÷ | 353,264) |
| Dec 31, 2008 | 2.69 | = | 1,178,923) | ÷ | 438,367) |
| Dec 31, 2007 | 2.61 | = | 1,053,438) | ÷ | 402,917) |
| Dec 31, 2006 | 1.99 | = | 960,854) | ÷ | 482,949) |
| Dec 31, 2005 | 2.07 | = | 873,663) | ÷ | 421,917) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The analysis of Albemarle Corp.'s short-term liquidity position from 2005 to 2022 reveals three distinct phases characterized by initial expansion, a period of sustained compression, and a recent recovery in the current ratio.
- Liquidity Expansion (2005–2013)
- During this period, the company maintained a strong liquidity position. The current ratio rose from 2.07 in 2005 to a peak of 3.70 in 2010. This growth was driven by a steady increase in current assets, which grew from approximately 873 million to 1.48 billion, while current liabilities remained relatively stable, fluctuating between 353 million and 436 million.
- Liquidity Compression and Volatility (2014–2021)
- A significant shift occurred starting in 2014, marked by a substantial increase in current liabilities, which jumped from 436 million in 2013 to 1.14 billion in 2014. This period was characterized by heightened volatility; the current ratio dropped sharply to 1.13 in 2015 before rebounding to 2.90 in 2016. Following 2016, a consistent downward trend in liquidity is observed, with the current ratio declining annually from 2.90 to a low of 1.07 in 2021. This decline reflects a faster growth rate in current liabilities relative to current assets during these years.
- Recent Asset Surge (2022)
- In 2022, there was a marked improvement in the liquidity ratio, which increased to 1.89. This recovery was primarily driven by a substantial increase in current assets, which reached a period high of approximately 5.19 billion, effectively offsetting the continued rise in current liabilities to 2.74 billion.
Overall, while the company ended the period with a healthier liquidity position than in 2021, the long-term trend indicates a transition from a high-cash/low-liability structure to a more leveraged short-term balance sheet with higher absolute values for both assets and liabilities.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Comparison to Competitors
Albemarle Corp., current ratio, long-term trends, comparison to competitors
| Albemarle Corp. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Dec 31, 2022 | 1.89 | 0.79 | 0.99 |
| Dec 31, 2021 | 1.07 | 0.74 | 0.88 |
| Dec 31, 2020 | 1.22 | 0.80 | 1.00 |
| Dec 31, 2019 | 1.58 | 0.85 | 1.02 |
| Dec 31, 2018 | 1.69 | 1.33 | 1.01 |
| Dec 31, 2017 | 2.06 | 0.99 | 1.12 |
| Dec 31, 2016 | 2.90 | 1.16 | 1.28 |
| Dec 31, 2015 | 1.13 | 1.39 | 1.24 |
| Dec 31, 2014 | 2.94 | 1.14 | 0.96 |
| Dec 31, 2013 | 3.40 | 1.09 | 1.25 |
| Dec 31, 2012 | 3.66 | 1.13 | 1.68 |
| Dec 31, 2011 | 3.38 | 1.03 | 1.05 |
| Dec 31, 2010 | 3.70 | 1.13 | 1.07 |
| Dec 31, 2009 | 2.92 | 1.23 | 1.27 |
| Dec 31, 2008 | 2.69 | 0.77 | 0.99 |
| Dec 31, 2007 | 2.61 | 0.91 | 0.97 |
| Dec 31, 2006 | 1.99 | 1.17 | 1.18 |
| Dec 31, 2005 | 2.07 | 1.07 | 1.22 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Chemicals)
Albemarle Corp., current ratio, long-term trends, comparison to sector (chemicals)
| Albemarle Corp. | Chemicals | |
|---|---|---|
| Dec 31, 2022 | 1.89 | 0.84 |
| Dec 31, 2021 | 1.07 | 0.79 |
| Dec 31, 2020 | 1.22 | 0.85 |
| Dec 31, 2019 | 1.58 | 0.90 |
| Dec 31, 2018 | 1.69 | 1.25 |
| Dec 31, 2017 | 2.06 | 1.06 |
| Dec 31, 2016 | 2.90 | 1.23 |
| Dec 31, 2015 | 1.13 | 1.31 |
| Dec 31, 2014 | 2.94 | 1.05 |
| Dec 31, 2013 | 3.40 | 1.17 |
| Dec 31, 2012 | 3.66 | 1.36 |
| Dec 31, 2011 | 3.38 | 1.04 |
| Dec 31, 2010 | 3.70 | 1.10 |
| Dec 31, 2009 | 2.92 | 1.25 |
| Dec 31, 2008 | 2.69 | 0.86 |
| Dec 31, 2007 | 2.61 | 0.93 |
| Dec 31, 2006 | 1.99 | 1.18 |
| Dec 31, 2005 | 2.07 | 1.13 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
Albemarle Corp., current ratio, long-term trends, comparison to industry (materials)
| Albemarle Corp. | Materials | |
|---|---|---|
| Dec 31, 2022 | 1.89 | 1.20 |
| Dec 31, 2021 | 1.07 | 1.19 |
| Dec 31, 2020 | 1.22 | 1.14 |
| Dec 31, 2019 | 1.58 | 1.15 |
| Dec 31, 2018 | 1.69 | 1.57 |
| Dec 31, 2017 | 2.06 | 1.50 |
| Dec 31, 2016 | 2.90 | 1.77 |
| Dec 31, 2015 | 1.13 | 1.53 |
| Dec 31, 2014 | 2.94 | 1.40 |
| Dec 31, 2013 | 3.40 | 1.61 |
| Dec 31, 2012 | 3.66 | 2.11 |
| Dec 31, 2011 | 3.38 | 1.95 |
| Dec 31, 2010 | 3.70 | 1.82 |
| Dec 31, 2009 | 2.92 | 1.84 |
| Dec 31, 2008 | 2.69 | 1.17 |
| Dec 31, 2007 | 2.61 | 1.20 |
| Dec 31, 2006 | 1.99 | 1.39 |
| Dec 31, 2005 | 2.07 | 1.23 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).