Cirrus Logic Inc (CRUS)
Current ratio
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,106,190 | 1,017,860 | 840,015 | 842,519 | 650,196 |
| Total current liabilities | US$ in thousands | 186,393 | 216,340 | 264,783 | 213,610 | 158,637 |
| Current ratio | 5.93 | 4.70 | 3.17 | 3.94 | 4.10 |
March 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,106,190K ÷ $186,393K
= 5.93
The current ratio of Cirrus Logic Inc has been fluctuating over the past five years. It increased from 4.10 in 2020 to 3.94 in 2021, but then decreased to 3.17 in 2022. However, it significantly improved in 2023 to 4.70 and further increased to 5.93 in 2024.
A higher current ratio indicates that the company has more current assets relative to its current liabilities, suggesting good short-term liquidity and ability to meet its short-term obligations. The substantial increase in the current ratio from 2022 to 2023 and 2024 is a positive sign as it shows improved liquidity and financial strength.
Overall, Cirrus Logic Inc's current ratio has been generally healthy over the years, indicating its ability to cover its short-term liabilities and withstand potential financial challenges.
Peer comparison
Mar 31, 2024