Allegheny Technologies Incorporated (ATI)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,737,700 | 2,476,400 | 2,306,700 | 2,066,000 | 2,303,000 |
| Total current liabilities | US$ in thousands | 977,100 | 963,900 | 856,400 | 653,300 | 849,200 |
| Current ratio | 2.80 | 2.57 | 2.69 | 3.16 | 2.71 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,737,700K ÷ $977,100K
= 2.80
ATI Inc's current ratio has generally shown a fluctuating trend over the past five years, ranging from 2.57 to 3.16. A current ratio of 2.80 as of December 31, 2023, indicates that the company has $2.80 in current assets for every $1 in current liabilities. This signifies a strong liquidity position, as the company has sufficient short-term assets to cover its short-term obligations. However, it is lower compared to the previous year's ratio of 2.57, suggesting a slight improvement in the company's ability to meet its short-term financial commitments. Overall, the current ratio indicates that ATI Inc has maintained a healthy liquidity position over the years, although attention should be paid to monitoring and managing working capital efficiently to ensure continued financial stability.