Central Garden & Pet Company (CENT)
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 | 1,714,060 | 1,707,120 | 1,741,680 | 1,653,880 | 1,512,620 | 1,553,850 | 1,633,240 | 1,623,890 | 1,531,720 | 1,543,660 | 1,682,750 | 1,407,190 | 1,547,710 | 1,525,280 | 1,467,290 | 1,358,930 | 1,321,080 | 1,307,190 | 1,349,630 | 1,352,290 |
| Total current liabilities | US$ in thousands | 494,171 | 457,987 | 496,387 | 475,949 | 423,039 | 465,892 | 516,187 | 570,749 | 513,350 | 522,319 | 511,007 | 536,763 | 441,212 | 440,262 | 385,250 | 357,100 | 343,860 | 278,525 | 278,813 | 299,128 |
| Current ratio | 3.47 | 3.73 | 3.51 | 3.47 | 3.58 | 3.34 | 3.16 | 2.85 | 2.98 | 2.96 | 3.29 | 2.62 | 3.51 | 3.46 | 3.81 | 3.81 | 3.84 | 4.69 | 4.84 | 4.52 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,714,060K ÷ $494,171K
= 3.47
Central Garden & Pet Company has exhibited fluctuating current ratios over the past years, indicating changes in its short-term liquidity position. The current ratio, which measures the company's ability to meet its short-term obligations with its current assets, has generally been above 3, indicating a healthy liquidity position.
The current ratio peaked at 4.84 in September 2019, reflecting strong short-term liquidity at that time. However, it has since declined, reaching a low of 2.62 in March 2022, which might have raised concerns about the company's ability to cover its current liabilities with its current assets.
In the most recent period, the current ratio has improved to 3.47 as of December 31, 2023, suggesting a positive trend in the company's short-term liquidity position. Overall, while the current ratio has experienced fluctuations, it has generally remained above 2, indicating that Central Garden & Pet Company has maintained a satisfactory level of short-term liquidity to meet its obligations.
Peer comparison
Dec 31, 2023