Crane NXT Co (CXT)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 644,400 | 623,300 | 1,543,100 | 1,573,700 | 1,499,900 |
| Total current liabilities | US$ in thousands | 334,400 | 631,400 | 789,300 | 1,056,600 | 916,700 |
| Current ratio | 1.93 | 0.99 | 1.96 | 1.49 | 1.64 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $644,400K ÷ $334,400K
= 1.93
The current ratio of Crane NXT Co has fluctuated over the past five years, indicating varying levels of the company's liquidity and ability to meet its short-term obligations. In 2023, the current ratio improved to 1.93, indicating that the company has $1.93 in current assets for every dollar of current liabilities, reflecting a stronger liquidity position compared to the previous year.
However, in 2022, the current ratio dropped to 0.99, suggesting a potential liquidity concern as the company had less than $1 in current assets for every dollar of current liabilities. The following year, in 2021, the current ratio increased to 1.96, demonstrating an improved ability to cover short-term obligations.
In 2020 and 2019, the current ratio was 1.49 and 1.64, respectively, showing moderate liquidity positions for those years. Overall, it is essential for Crane NXT Co to closely monitor its current ratio to ensure it maintains adequate liquidity to meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023