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