American Axle & Manufacturing (AXL)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,006,600 | 1,993,400 | 1,856,000 | 1,877,000 | 1,857,800 |
| Total current liabilities | US$ in thousands | 1,201,600 | 1,199,300 | 1,039,900 | 979,300 | 1,026,400 |
| Current ratio | 1.67 | 1.66 | 1.78 | 1.92 | 1.81 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,006,600K ÷ $1,201,600K
= 1.67
The current ratio of American Axle & Manufacturing Holdings Inc has exhibited some fluctuations over the past five years. In 2023, the current ratio stood at 1.67, which was a slight increase from the previous year but slightly lower than the ratio in 2021.
The current ratio is a liquidity measure that indicates the company's ability to cover its short-term liabilities with its short-term assets. A current ratio above 1 signifies that the company has more current assets than current liabilities, implying a strong liquidity position.
While the current ratio has shown some variability, it generally indicates that American Axle & Manufacturing Holdings Inc has been able to maintain a healthy liquidity position over the years. However, it is essential to consider other financial metrics and qualitative factors to get a comprehensive understanding of the company's overall financial health.
Peer comparison
Dec 31, 2023