Advance Auto Parts Inc (AAP)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 6,377,020 | 6,014,820 | 6,275,480 | 6,270,000 | 5,695,540 |
| Total current liabilities | US$ in thousands | 5,307,400 | 5,420,850 | 5,180,310 | 4,743,920 | 4,477,700 |
| Current ratio | 1.20 | 1.11 | 1.21 | 1.32 | 1.27 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $6,377,020K ÷ $5,307,400K
= 1.20
Advance Auto Parts Inc's current ratio has fluctuated over the past five years. The current ratio, which measures the company's ability to cover its short-term liabilities with its current assets, stood at 1.20 as of Dec 31, 2023. This represents an improvement compared to the previous year's current ratio of 1.11. However, it is lower than the current ratio observed in Dec 31, 2028 and Dec 31, 2020 which were 1.21 and 1.32 respectively. The company's current ratio has been relatively stable over the five-year period, indicating a consistent ability to meet its short-term obligations. Although the current ratio has slightly decreased in the most recent year, it is important to assess other liquidity ratios and factors to gain a comprehensive understanding of Advance Auto Parts Inc's financial health.
Peer comparison
Dec 31, 2023