Asbury Automotive Group Inc (ABG)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,057,100 | 1,909,800 | 1,929,400 | 1,405,700 | 1,602,600 |
| Total current liabilities | US$ in thousands | 2,875,700 | 1,033,400 | 1,597,900 | 1,223,400 | 1,247,000 |
| Current ratio | 1.06 | 1.85 | 1.21 | 1.15 | 1.29 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,057,100K ÷ $2,875,700K
= 1.06
The current ratio for Asbury Automotive Group Inc has shown fluctuations over the past five years, ranging from 1.06 in 2023 to 1.85 in 2022. A current ratio above 1 indicates that the company has more current assets than current liabilities, which is generally considered favorable. The significant decrease in the current ratio from 2022 to 2023 may raise concerns about the company's short-term liquidity and ability to cover its current obligations. It would be important to further analyze the composition of current assets and liabilities to understand the underlying factors driving these changes and assess the company's financial health.
Peer comparison
Dec 31, 2023