Allegheny Technologies Incorporated (ATI)

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	2,737,700	2,599,700	2,458,600	2,316,300	2,476,400	2,369,400	2,311,700	2,285,700	2,306,700	2,689,100	1,996,500	2,093,400	2,066,000	2,086,300	2,201,600	2,508,000	2,303,000	2,422,400	2,261,400	2,177,900
Total current liabilities	US$ in thousands	977,100	829,300	897,500	824,000	963,900	822,800	799,900	877,200	856,400	1,207,300	599,100	689,200	653,300	563,700	614,400	1,059,200	849,200	763,300	759,200	760,000
Current ratio		2.80	3.13	2.74	2.81	2.57	2.88	2.89	2.61	2.69	2.23	3.33	3.04	3.16	3.70	3.58	2.37	2.71	3.17	2.98	2.87

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $2,737,700K ÷ $977,100K
= 2.80

The current ratio of ATI Inc has exhibited some variability over the past eight quarters, ranging from a low of 2.57 in Q4 2022 to a high of 3.13 in Q3 2023. The current ratio measures the company's ability to meet its short-term obligations with its current assets, with a higher ratio indicating a stronger liquidity position. The company's current ratio has generally been above 2.5, which is considered a healthy benchmark, suggesting that ATI Inc has sufficient current assets to cover its current liabilities. However, the fluctuations in the current ratio over the quarters indicate some volatility in the company's liquidity position, which could be due to factors such as changes in current assets or liabilities. Overall, the current ratio trend of ATI Inc suggests that it has maintained a relatively stable and satisfactory liquidity position in the recent quarters.