Cirrus Logic Inc (CRUS)

Current ratio

		Mar 31, 2024	Dec 31, 2023	Sep 23, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 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	1,106,190	1,185,380	1,096,870	1,048,670	1,017,860	1,013,480	956,567	861,008	840,015	763,521	949,056	839,344	842,519	803,544	709,231	689,967	650,196	714,601	652,020	564,075
Total current liabilities	US$ in thousands	186,393	178,594	201,190	202,854	216,340	228,549	282,365	252,596	264,783	239,514	500,381	186,501	213,610	184,855	178,043	163,044	158,637	178,311	192,796	131,206
Current ratio		5.93	6.64	5.45	5.17	4.70	4.43	3.39	3.41	3.17	3.19	1.90	4.50	3.94	4.35	3.98	4.23	4.10	4.01	3.38	4.30

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 displayed fluctuations over the recent quarters. The company's current ratio ranged from 1.90 to 6.64 during the periods indicated. A higher current ratio indicates a better ability of the company to cover its short-term obligations with its current assets.

In the most recent quarter, as of March 31, 2024, the current ratio stands at 5.93, reflecting a strong current financial position. This indicates that the company has $5.93 in current assets for every $1 in current liabilities. The trend of the current ratio has generally shown improvement from the lower levels seen in previous quarters.

The company's current ratio was at its lowest point in the third quarter of 2021 at 1.90, signaling a relatively weaker liquidity position. However, from that point onwards, the current ratio has demonstrated a steady improvement, reaching a peak of 6.64 in the fourth quarter of 2023.

Overall, the upward trend in the current ratio suggests an improvement in Cirrus Logic Inc's short-term liquidity and ability to meet its current obligations. However, it is essential for stakeholders to continue monitoring this ratio to ensure the company maintains a healthy liquidity position in the future.