ABM Industries Incorporated (ABM)
Current ratio
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,710,700 | 1,561,200 | 1,401,200 | 1,441,900 | 1,275,400 |
| Total current liabilities | US$ in thousands | 1,217,900 | 1,353,200 | 1,285,800 | 986,900 | 902,400 |
| Current ratio | 1.40 | 1.15 | 1.09 | 1.46 | 1.41 |
October 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,710,700K ÷ $1,217,900K
= 1.40
The current ratio of ABM Industries Inc. has fluctuated over the past five years. As of October 31, 2023, the current ratio stands at 1.40, which indicates that the company's short-term liquidity position has improved compared to the previous year. This means that the company has $1.40 in current assets for every $1 of current liabilities.
In 2022, the current ratio was 1.15, reflecting a slight decline from the prior year's ratio of 1.09 in 2021. However, there was a notable improvement in 2020 with a current ratio of 1.46, indicating a strong liquidity position, followed by a relatively stable ratio of 1.41 in 2019.
Overall, the current ratio shows some variability, but it generally indicates that ABM Industries Inc. has maintained a satisfactory ability to meet its short-term obligations over the years, with a particularly strong position in 2020. However, it is important to consider other factors and additional financial metrics in conjunction with the current ratio for a comprehensive assessment of the company's liquidity.
Peer comparison
Oct 31, 2023