Coca-Cola Consolidated Inc. (COKE)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,705,130 | 1,245,800 | 1,076,660 | 851,237 | 830,276 |
| Total current liabilities | US$ in thousands | 1,091,330 | 905,156 | 834,856 | 647,060 | 622,195 |
| Current ratio | 1.56 | 1.38 | 1.29 | 1.32 | 1.33 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,705,130K ÷ $1,091,330K
= 1.56
The current ratio of Coca-Cola Consolidated Inc has shown a generally increasing trend over the past five years, indicating an improvement in the company's short-term liquidity position. The current ratio increased from 1.33 in 2019 to 1.56 in 2023. This suggests that the company's current assets are sufficient to cover its current liabilities by 1.56 times as of December 31, 2023, compared to 1.33 times as of December 29, 2019.
Although the current ratio dipped slightly in 2022, the overall trend indicates that the company has been effectively managing its short-term liquidity over the years. A current ratio above 1 indicates that Coca-Cola Consolidated Inc has more current assets than current liabilities, which is a positive sign for creditors and investors as it signifies the company's ability to meet its short-term obligations.
Furthermore, the current ratio exceeding 1.5 in 2023 suggests that the company has a strong liquidity position, providing a buffer to cover any unexpected changes in its operating environment or cash flow challenges. Overall, the increasing trend in the current ratio of Coca-Cola Consolidated Inc reflects a healthy balance between current assets and current liabilities, indicating a stable financial position in the short term.
Peer comparison
Dec 31, 2023