Deere & Company (DE)
Current ratio
| Oct 31, 2024 | Oct 27, 2024 | Oct 31, 2023 | Oct 29, 2023 | Oct 31, 2022 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 77,667,000 | 14,417,000 | 51,922,000 | 15,618,000 | 65,475,000 |
| Total current liabilities | US$ in thousands | 38,334,000 | 13,561,000 | 41,064,000 | 17,964,000 | 33,125,000 |
| Current ratio | 2.03 | 1.06 | 1.26 | 0.87 | 1.98 |
October 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $77,667,000K ÷ $38,334,000K
= 2.03
The current ratio of Deere & Company has fluctuated over the past few years as per the provided data. As of October 31, 2022, the current ratio was 1.98, indicating that the company had almost twice the current assets to cover its current liabilities. However, by October 29, 2023, the ratio decreased significantly to 0.87, suggesting potential liquidity concerns as current liabilities exceeded current assets.
There was a slight improvement in the current ratio by October 31, 2023, reaching 1.26, but it remained below the ideal threshold of 2 for many industries. The ratio dropped again by October 27, 2024, to 1.06, indicating a possible strain on short-term liquidity.
By October 31, 2024, there was a notable increase in the current ratio to 2.03, surpassing the ideal threshold of 2. This improvement suggests that Deere & Company had strengthened its liquidity position by increasing current assets or reducing current liabilities.
Overall, the fluctuation in the current ratio of Deere & Company over the period indicates varying levels of liquidity and the need for careful monitoring to ensure the company can meet its short-term obligations effectively.
Peer comparison
Oct 31, 2024