CEVA Inc (CEVA)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 209,371 | 177,625 | 188,980 | 167,559 | 178,552 |
| Total current liabilities | US$ in thousands | 26,887 | 33,278 | 35,440 | 28,180 | 26,378 |
| Current ratio | 7.79 | 5.34 | 5.33 | 5.95 | 6.77 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $209,371K ÷ $26,887K
= 7.79
CEVA Inc's current ratio has fluctuated over the past five years. The current ratio measures the company's ability to meet its short-term obligations with its current assets. A higher current ratio is generally seen as favorable, indicating that the company has more current assets relative to its current liabilities.
In 2023, CEVA Inc's current ratio stands at 7.79, showcasing a significant increase compared to the previous year. This implies that the company has significantly more current assets relative to current liabilities, reflecting a stronger liquidity position.
However, it is important to note that the current ratio was lower in the years 2020 and 2021, albeit still above 5, suggesting a slight reduction in liquidity during those periods. The highest current ratio was recorded in 2019 at 6.77, indicating a very strong liquidity position at that time.
Overall, CEVA Inc's current ratio has shown variability over the years, but the current ratio for 2023 indicates a robust liquidity position, which could imply the company's ability to easily cover its short-term obligations using its current assets.
Peer comparison
Dec 31, 2023