CVR Energy Inc (CVI)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,179,000 | 1,593,000 | 1,369,000 | 1,402,000 | 1,274,000 |
| Total current liabilities | US$ in thousands | 1,682,000 | 1,439,000 | 1,156,000 | 659,000 | 596,000 |
| Current ratio | 1.30 | 1.11 | 1.18 | 2.13 | 2.14 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,179,000K ÷ $1,682,000K
= 1.30
The current ratio of CVR Energy Inc has displayed fluctuations over the past five years, ranging from a low of 1.11 in 2022 to a high of 2.17 in 2019. The current ratio measures the company's ability to meet its short-term obligations with its current assets. A current ratio above 1 indicates that the company has more current assets than current liabilities, suggesting good short-term financial health.
In 2023, the current ratio of 1.30 indicates that CVR Energy Inc had $1.30 in current assets for every $1 in current liabilities. While this represents an improvement compared to the previous year, it is still slightly lower than the ratios seen in 2019 and 2020. This variation may reflect changes in the company's current asset and liability structure, such as shifts in inventory levels, accounts receivable, or short-term debt.
Further analysis of the components of current assets and liabilities would provide additional insights into the efficiency of CVR Energy Inc's working capital management. It is essential to monitor the current ratio over time to identify trends and assess the company's liquidity position.
Peer comparison
Dec 31, 2023