Balchem Corporation (BCPC)
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 | 314,242 | 341,222 | 336,534 | 335,603 | 335,803 | 368,111 | 377,141 | 319,804 | 322,232 | 300,275 | 287,263 | 281,204 | 266,888 | 270,122 | 263,862 | 270,681 | 254,946 | 239,949 | 231,885 | 221,666 |
| Total current liabilities | US$ in thousands | 148,491 | 108,038 | 114,386 | 116,523 | 140,042 | 142,085 | 144,143 | 123,529 | 143,802 | 104,926 | 100,759 | 88,763 | 94,428 | 68,413 | 67,960 | 71,720 | 92,258 | 72,023 | 62,091 | 63,810 |
| Current ratio | 2.12 | 3.16 | 2.94 | 2.88 | 2.40 | 2.59 | 2.62 | 2.59 | 2.24 | 2.86 | 2.85 | 3.17 | 2.83 | 3.95 | 3.88 | 3.77 | 2.76 | 3.33 | 3.73 | 3.47 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $314,242K ÷ $148,491K
= 2.12
Balchem Corp.'s current ratio has shown fluctuations over the past eight quarters. The current ratio measures the company's ability to meet its short-term liabilities with its current assets. A higher current ratio indicates a stronger ability to cover short-term obligations.
In Q4 2023, the current ratio decreased to 2.12 from 3.16 in the previous quarter, Q3 2023. This suggests a potential decrease in the company's short-term liquidity position compared to the previous period.
Despite the recent decrease, the current ratio has generally remained above 2 over the past eight quarters, indicating that Balchem Corp. has typically had a strong ability to cover its short-term liabilities with its current assets.
Some quarters have shown higher current ratios, such as Q3 2023 at 3.16 and Q2 2023 at 2.94, which may indicate better liquidity positions during those periods.
It is important for investors and analysts to assess the trend in the current ratio over time and consider other financial metrics to gain a comprehensive understanding of Balchem Corp.'s overall financial health and liquidity position.
Peer comparison
Dec 31, 2023