Ciena Corp (CIEN)
Current ratio
| Nov 2, 2024 | Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,544,420 | 3,575,780 | 3,385,900 | 3,188,910 | 2,611,160 |
| Total current liabilities | US$ in thousands | 999,840 | 932,021 | 1,040,580 | 909,030 | 760,701 |
| Current ratio | 3.54 | 3.84 | 3.25 | 3.51 | 3.43 |
November 2, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,544,420K ÷ $999,840K
= 3.54
The current ratio of Ciena Corp has shown some fluctuations over the past five years. As of November 2, 2024, the current ratio stands at 3.54, indicating that the company's current assets are 3.54 times its current liabilities. This suggests that Ciena Corp has a strong liquidity position, with more than enough current assets to cover its short-term obligations.
Comparing this to the previous years, we observe that the current ratio was highest in October 2019 at 3.84 and lowest in October 2022 at 3.25. Despite the fluctuations, the current ratio has generally remained above 3 over the past five years, reflecting a consistent ability to meet its short-term obligations.
A current ratio above 1 typically signifies a company's ability to meet its short-term liabilities, with higher ratios indicating stronger liquidity. Ciena Corp's current ratio above 3 in recent years suggests a healthy financial position with ample current assets to cover its current liabilities.
Peer comparison
Nov 2, 2024