ConAgra Foods Inc (CAG)
Current ratio
| May 31, 2024 | May 26, 2024 | May 31, 2023 | May 28, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,149,500 | 3,149,500 | 3,385,000 | 3,385,000 | 3,033,700 |
| Total current liabilities | US$ in thousands | 3,241,800 | 3,241,800 | 4,440,700 | 4,440,700 | 3,518,800 |
| Current ratio | 0.97 | 0.97 | 0.76 | 0.76 | 0.86 |
May 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,149,500K ÷ $3,241,800K
= 0.97
The current ratio of ConAgra Foods Inc has displayed some fluctuation over the years. As of May 31, 2022, the current ratio was 0.86, indicating that the company had $0.86 in current assets for every $1 in current liabilities. By May 28, 2023, the ratio decreased to 0.76 and remained the same on May 31, 2023. This suggests a potential liquidity concern as the company may have difficulty meeting its short-term obligations.
However, there was an improvement in the current ratio to 0.97 as of May 26, 2024 and it remained the same on May 31, 2024. This indicates that ConAgra Foods Inc had $0.97 in current assets for every $1 in current liabilities, reflecting a better ability to cover short-term debts.
It is important to closely monitor the company's current ratio over time to ensure it maintains a healthy balance between current assets and current liabilities, which is crucial for its financial stability and ability to meet its short-term obligations.
Peer comparison
May 31, 2024