Abbott Laboratories (ABT)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 22,670,000 | 25,224,000 | 24,239,000 | 20,441,000 | 15,667,000 |
| Total current liabilities | US$ in thousands | 13,841,000 | 15,489,000 | 13,105,000 | 11,907,000 | 10,863,000 |
| Current ratio | 1.64 | 1.63 | 1.85 | 1.72 | 1.44 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $22,670,000K ÷ $13,841,000K
= 1.64
The current ratio for Abbott Laboratories has been relatively stable in recent years, ranging from 1.44 in 2019 to 1.85 in 2021. As of December 31, 2023, the current ratio stands at 1.64, indicating that the company has $1.64 in current assets for every $1 in current liabilities.
A current ratio above 1 suggests that Abbott Laboratories has sufficient current assets to cover its short-term liabilities. While the current ratio has fluctuated over the years, it has generally remained within an acceptable range, demonstrating the company's ability to meet its short-term obligations.
Overall, Abbott Laboratories' current ratio of 1.64 as of December 31, 2023, reflects a healthy liquidity position and indicates that the company is well-positioned to meet its short-term financial obligations.
Peer comparison
Dec 31, 2023