The Cooper Companies Inc. (COO)
Current ratio
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,793,900 | 1,704,900 | 1,711,000 | 1,599,300 | 1,577,500 | 1,533,600 | 1,597,700 | 1,738,200 | 1,698,100 | 1,465,300 | 1,474,600 | 1,322,600 | 1,297,400 | 1,274,200 | 1,321,300 | 1,166,200 | 1,149,900 | 1,163,400 | 1,150,800 | 1,136,600 |
| Total current liabilities | US$ in thousands | 964,900 | 969,000 | 993,600 | 949,100 | 915,800 | 1,280,200 | 1,375,700 | 1,648,400 | 1,664,400 | 732,100 | 1,063,200 | 992,700 | 961,300 | 1,004,400 | 1,128,700 | 1,025,300 | 1,068,500 | 1,110,600 | 889,400 | 940,900 |
| Current ratio | 1.86 | 1.76 | 1.72 | 1.69 | 1.72 | 1.20 | 1.16 | 1.05 | 1.02 | 2.00 | 1.39 | 1.33 | 1.35 | 1.27 | 1.17 | 1.14 | 1.08 | 1.05 | 1.29 | 1.21 |
January 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,793,900K ÷ $964,900K
= 1.86
The current ratio of Cooper Companies, Inc. has exhibited a generally positive trend over the past year and appears to be well above the industry average. The ratio has consistently increased from 1.05 in Q2 2022 to 1.86 in Q1 2024. This indicates that the company's current assets are sufficiently higher than its current liabilities, reflecting strong liquidity and financial health.
The upward trend suggests improved efficiency in managing short-term obligations and indicates that the company may be better equipped to meet its financial commitments in the short run. The consistent improvement in the current ratio also signifies that Cooper Companies, Inc. may have been effectively managing its working capital by either reducing liabilities or increasing current assets.
It is important to note that a current ratio above 1.0 indicates that the company has more current assets than current liabilities, implying a stronger ability to cover short-term obligations. However, it is also crucial to consider other factors such as the company's industry, business model, and overall financial health when evaluating the significance of the current ratio.
Peer comparison
Jan 31, 2024