Astec Industries Inc (ASTE)
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 | 719,500 | 746,300 | 675,900 | 680,400 | 696,400 | 649,600 | 661,500 | 675,700 | 636,000 | 644,800 | 634,500 | 592,000 | 565,800 | 533,158 | 530,405 | 534,182 | 506,300 | 529,884 | 557,535 | 576,073 |
| Total current liabilities | US$ in thousands | 299,000 | 282,200 | 264,100 | 272,000 | 274,000 | 283,900 | 273,400 | 256,500 | 223,300 | 212,000 | 207,800 | 185,100 | 170,300 | 161,239 | 144,027 | 168,890 | 172,800 | 173,081 | 173,936 | 190,793 |
| Current ratio | 2.41 | 2.64 | 2.56 | 2.50 | 2.54 | 2.29 | 2.42 | 2.63 | 2.85 | 3.04 | 3.05 | 3.20 | 3.32 | 3.31 | 3.68 | 3.16 | 2.93 | 3.06 | 3.21 | 3.02 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $719,500K ÷ $299,000K
= 2.41
The current ratio of Astec Industries Inc. has displayed fluctuations over the past eight quarters, ranging from 2.29 to 2.64. The ratio measures the company's ability to cover its short-term obligations with its current assets.
In general, a current ratio above 1 indicates that a company has more current assets than current liabilities, suggesting a strong liquidity position. Astec Industries Inc. consistently maintains a current ratio above 2, indicating a healthier liquidity position and a strong ability to meet its short-term obligations.
The fluctuations in the current ratio over the quarters may be due to variations in the company's current assets and current liabilities. Overall, the company appears to have a sound liquidity position, with current assets significantly exceeding current liabilities, providing a cushion to meet its short-term financial obligations.
Peer comparison
Dec 31, 2023