Compass Minerals International Inc (CMP)

Current ratio

Sep 30, 2023 Sep 30, 2022 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Total current assets US$ in thousands 600,900 562,000 756,300 780,000 721,200
Total current liabilities US$ in thousands 274,600 233,100 296,700 295,900 283,300
Current ratio 2.19 2.41 2.55 2.64 2.55

September 30, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $600,900K ÷ $274,600K
= 2.19

The current ratio of Compass Minerals International Inc has exhibited a slight downward trend over the past five years, decreasing from 2.55 in 2018 to 2.15 in 2023. This indicates a reduction in the company's ability to meet its short-term obligations using its current assets. Although the current ratio remains above 1, suggesting the company's current assets still exceed its current liabilities, the decreasing trend warrants attention. It may be indicative of potential difficulties in covering short-term obligations or managing working capital efficiently. Further analysis of the company's liquidity position and management of current assets and liabilities is advisable to better understand the factors driving this trend.


Peer comparison

Sep 30, 2023