Asbury Automotive Group Inc (ABG)

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	3,057,100	2,054,900	2,003,900	2,050,200	1,909,800	1,812,600	1,601,500	1,813,900	1,929,400	1,150,500	1,132,500	1,317,600	1,405,700	1,298,000	1,591,700	1,753,200	1,602,600	1,448,000	1,529,500	1,628,600
Total current liabilities	US$ in thousands	2,875,700	994,500	1,049,600	1,068,300	1,033,400	1,158,700	1,156,900	1,584,800	1,597,900	659,200	759,300	1,048,700	1,223,400	1,212,700	893,200	1,181,900	1,247,000	1,235,100	1,272,600	1,416,800
Current ratio		1.06	2.07	1.91	1.92	1.85	1.56	1.38	1.14	1.21	1.75	1.49	1.26	1.15	1.07	1.78	1.48	1.29	1.17	1.20	1.15

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $3,057,100K ÷ $2,875,700K
= 1.06

Asbury Automotive Group Inc's current ratio has fluctuated over the past eight quarters, ranging from a low of 1.06 in Q4 2023 to a high of 2.07 in Q3 2023. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A ratio above 1 indicates that the company has more current assets than current liabilities.

In Q4 2023, the current ratio dropped to 1.06, which suggests that the company may have had difficulty meeting its short-term obligations with its current assets during that period. However, in the previous quarter, Q3 2023, the current ratio was a much healthier 2.07, indicating a strong ability to cover short-term liabilities.

Overall, Asbury Automotive Group Inc's current ratio has shown some volatility, but has generally remained above 1 in most quarters, indicating a relatively healthy liquidity position. It would be important to further analyze the company's current assets and liabilities to understand the factors driving these fluctuations and assess the company's short-term liquidity risk.