Avery Dennison Corp (AVY)

Current ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Total current assets US$ in thousands 2,796,000 2,782,000 2,734,600 2,416,200 2,340,600
Total current liabilities US$ in thousands 2,699,500 2,799,800 2,547,900 1,926,000 2,253,800
Current ratio 1.04 0.99 1.07 1.25 1.04

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $2,796,000K ÷ $2,699,500K
= 1.04

The current ratio of Avery Dennison Corp has fluctuated over the past five years. In 2023, the current ratio stands at 1.04, slightly above the industry average, indicating that the company's current assets can cover its current liabilities. Compared to 2022 and 2019, the current ratio has improved, implying stronger short-term liquidity. However, the current ratio has declined compared to 2020 and 2021, suggesting a potential decrease in the company's ability to meet its short-term obligations with its current assets. It is essential for the company to carefully monitor its current assets and liabilities to ensure a healthy balance and sustainable financial position.


Peer comparison

Dec 31, 2023

Company name
Symbol
Current ratio
Avery Dennison Corp
AVY
1.04
Kimberly-Clark Corporation
KMB
0.82