Celanese Corporation (CE)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 6,218,000 | 6,611,000 | 3,807,000 | 3,763,000 | 2,765,000 |
| Total current liabilities | US$ in thousands | 4,072,000 | 4,068,000 | 2,505,000 | 1,973,000 | 1,754,000 |
| Current ratio | 1.53 | 1.63 | 1.52 | 1.91 | 1.58 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $6,218,000K ÷ $4,072,000K
= 1.53
The current ratio of Celanese Corp has fluctuated over the past five years. The ratio stood at 1.58 in 2019, increased to 1.91 in 2020, declined to 1.52 in 2021, rose again to 1.63 in 2022, and decreased to 1.53 in 2023.
A current ratio above 1 indicates that the company has more current assets than current liabilities, suggesting the company is able to cover its short-term financial obligations. However, the downward trend in the current ratio over the past two years may indicate a weakening ability to meet its short-term obligations or a shift in the composition of its current assets and liabilities.
It is important to further investigate the components of current assets and liabilities to understand the reasons behind the changes in the current ratio and assess the company's liquidity position accurately.
Peer comparison
Dec 31, 2023