AdvanSix Inc (ASIX)

Current ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	419,804	440,928	349,854	333,503	290,537
Total current liabilities	US$ in thousands	358,918	393,492	309,822	287,037	291,726
Current ratio		1.17	1.12	1.13	1.16	1.00

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $419,804K ÷ $358,918K
= 1.17

The current ratio of AdvanSix Inc has fluctuated in recent years as follows:
- As of December 31, 2023, the current ratio stood at 1.17, indicating that the company had $1.17 in current assets for every $1 in current liabilities.
- In comparison to the previous year (1.12), the current ratio has improved, suggesting AdvanSix Inc's ability to meet its short-term obligations strengthened.
- The current ratio for 2021 and 2020 was relatively stable at 1.13 and 1.16, respectively, showing a consistent ability to cover short-term liabilities with current assets.
- Notably, there was a significant increase in the current ratio from 2019 (1.00) to 2020 (1.16), indicating a significant improvement in liquidity and short-term financial strength over that period.

Overall, the current ratio trend for AdvanSix Inc suggests a generally healthy liquidity position, with recent improvements indicating a strengthened ability to meet short-term obligations.