Albany International Corporation (AIN)
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 | 877,964 | 856,374 | 903,800 | 889,455 | 838,439 | 808,714 | 835,099 | 788,580 | 758,801 | 751,924 | 717,482 | 704,394 | 717,276 | 680,635 | 650,480 | 659,514 | 618,334 | 599,870 | 626,775 | 612,274 |
| Total current liabilities | US$ in thousands | 248,679 | 242,797 | 181,115 | 184,691 | 211,316 | 189,537 | 188,160 | 178,067 | 208,166 | 181,501 | 175,588 | 166,962 | 190,863 | 178,909 | 177,202 | 175,621 | 202,719 | 191,542 | 196,689 | 204,798 |
| Current ratio | 3.53 | 3.53 | 4.99 | 4.82 | 3.97 | 4.27 | 4.44 | 4.43 | 3.65 | 4.14 | 4.09 | 4.22 | 3.76 | 3.80 | 3.67 | 3.76 | 3.05 | 3.13 | 3.19 | 2.99 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $877,964K ÷ $248,679K
= 3.53
Albany International Corp. has exhibited a fluctuating current ratio over the past eight quarters. The current ratio, which measures the company's ability to meet its short-term liabilities with its current assets, has ranged from a low of 3.53 in Q4 2022 to a high of 4.99 in Q2 2023. A current ratio above 1 indicates that the company has more current assets than current liabilities, suggesting a strong liquidity position.
In general, the company has maintained a current ratio above 3, indicating a comfortable level of liquidity and ability to cover its short-term obligations. However, the fluctuations in the current ratio over the quarters may warrant further investigation into the company's management of current assets and liabilities.
The recent decrease in the current ratio from Q2 2023 to Q3 2023 to 3.53 could be a cause for concern as it indicates a potential decrease in the company's ability to cover its short-term liabilities. It is important for stakeholders to monitor the trend in the current ratio and assess whether it aligns with the company's overall financial health and operational efficiency.