Compass Minerals International Inc (CMP)

Current ratio

		Jun 30, 2024	Mar 31, 2024	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	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
Total current assets	US$ in thousands	547,000	598,100	627,800	600,900	532,100	700,800	684,700	562,000	479,300	522,200	585,200	883,300	611,900	756,300	685,400	620,400	626,200	780,000	695,400	625,200
Total current liabilities	US$ in thousands	188,400	200,900	204,200	274,600	246,000	276,000	218,700	233,100	189,400	224,200	197,400	427,700	393,900	296,700	301,800	261,000	259,300	295,900	277,900	276,400
Current ratio		2.90	2.98	3.07	2.19	2.16	2.54	3.13	2.41	2.53	2.33	2.96	2.07	1.55	2.55	2.27	2.38	2.41	2.64	2.50	2.26

June 30, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $547,000K ÷ $188,400K
= 2.90

The current ratio of Compass Minerals International Inc has fluctuated over the past few quarters, ranging from a low of 1.55 to a high of 3.13. Overall, the company maintains a healthy current ratio, indicating a strong ability to meet its short-term obligations with its current assets.

The current ratio has shown some variability, possibly due to changes in the company's current assets and liabilities. A ratio above 1.0 suggests that the company has more current assets than current liabilities, offering a cushion for short-term financial obligations.

In analyzing the trend of the current ratio, it is important to note the improvement seen in recent quarters, with the ratio consistently above 2.0. This suggests that Compass Minerals International Inc is in a solid financial position in terms of its liquidity and ability to cover its short-term obligations.

Overall, the current ratio trend indicates that the company has been effective in managing its working capital and maintaining a healthy balance between current assets and liabilities.