Apogee Enterprises Inc (APOG)
Current ratio
| Mar 2, 2024 | Nov 25, 2023 | Aug 26, 2023 | May 27, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 358,639 | 372,459 | 376,314 | 393,725 | 383,101 | 396,690 | 424,218 | 371,161 | 337,892 | 366,874 | 343,894 | 332,132 | 350,674 | 345,635 | 311,732 | 330,693 | 381,910 | 396,916 | 391,334 | 392,789 |
| Total current liabilities | US$ in thousands | 244,705 | 236,575 | 224,286 | 233,159 | 242,549 | 232,037 | 233,383 | 207,065 | 232,946 | 217,890 | 199,649 | 188,205 | 217,552 | 211,700 | 361,786 | 379,530 | 276,857 | 399,542 | 371,262 | 214,905 |
| Current ratio | 1.47 | 1.57 | 1.68 | 1.69 | 1.58 | 1.71 | 1.82 | 1.79 | 1.45 | 1.68 | 1.72 | 1.76 | 1.61 | 1.63 | 0.86 | 0.87 | 1.38 | 0.99 | 1.05 | 1.83 |
March 2, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $358,639K ÷ $244,705K
= 1.47
The current ratio of Apogee Enterprises Inc has fluctuated over the past few quarters, ranging from a low of 0.86 to a high of 1.83. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A current ratio above 1 indicates that a company has more current assets than current liabilities, which is generally seen as a healthy sign.
Apogee's current ratio has been mostly above 1.5 in recent quarters, with the highest ratio of 1.83 reported in Jun 1, 2019. This suggests that the company has had a comfortable level of current assets to cover its short-term obligations during this period.
However, it is important to note the decrease in the current ratio in the last two quarters which could indicate potential liquidity challenges. A current ratio below 1 would suggest that the company may have difficulties meeting its short-term obligations with its current assets.
Overall, the current ratio of Apogee Enterprises Inc has exhibited variability but has generally remained at a level indicative of the company's ability to manage its short-term liabilities with its current assets. Further monitoring and analysis of the trend is recommended to assess the company's liquidity position.