Albany International Corporation (AIN)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 877,964 | 838,439 | 758,801 | 717,276 | 618,334 |
| Total current liabilities | US$ in thousands | 248,679 | 211,316 | 208,166 | 190,863 | 202,719 |
| Current ratio | 3.53 | 3.97 | 3.65 | 3.76 | 3.05 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $877,964K ÷ $248,679K
= 3.53
The current ratio of Albany International Corp. has been relatively stable over the past five years, ranging from 3.05 in 2019 to 3.97 in 2022. The ratio indicates the company's ability to meet its short-term obligations with its current assets. A current ratio above 1 suggests that the company has more current assets than current liabilities, which is generally considered favorable.
The current ratio of Albany International Corp. has shown a declining trend from 2022 to 2023, decreasing from 3.97 to 3.53. While the current ratio of 3.53 is still above 1, indicating the company's ability to cover its short-term liabilities, the decreasing trend may warrant further investigation into the company's liquidity position. It is important to monitor whether this trend continues in the upcoming periods and if there are any specific reasons behind the decrease in the current ratio.
Overall, based on the current ratio data provided, Albany International Corp. has maintained a strong liquidity position over the years, with current assets consistently exceeding current liabilities. However, the recent decline in the current ratio from 2022 to 2023 may indicate a potential shift in the company's liquidity position that requires careful monitoring and analysis.