Axcelis Technologies Inc (ACLS)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,079,990 | 877,645 | 619,246 | 470,791 | 375,679 |
| Total current liabilities | US$ in thousands | 285,129 | 248,132 | 150,140 | 84,431 | 68,664 |
| Current ratio | 3.79 | 3.54 | 4.12 | 5.58 | 5.47 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,079,990K ÷ $285,129K
= 3.79
The current ratio of Axcelis Technologies Inc has shown a fluctuating trend over the past five years. The company's current ratio was 3.79 in 2023, which indicates that for every dollar of current liabilities, the company has $3.79 of current assets available to cover those obligations. This suggests that the company has a relatively strong liquidity position in the latest year.
Comparing this to previous years, we can see that the current ratio decreased from 3.54 in 2022 to 4.12 in 2021 before significantly dropping to 5.58 in 2020 and further decreasing to 5.47 in 2019. These fluctuations indicate some variability in the company's ability to meet its short-term obligations over the years.
Overall, the current ratio of Axcelis Technologies Inc has remained above 1.0 in all years, indicating that the company has more than enough current assets to cover its current liabilities. However, investors and analysts should consider the trend of the current ratio over time to assess the company's liquidity position and ability to manage short-term financial obligations effectively.
Peer comparison
Dec 31, 2023