Deere & Company (DE)
Current ratio
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 14,417,000 | 15,618,000 | 13,269,000 | 14,798,000 | 12,065,000 |
| Total current liabilities | US$ in thousands | 13,561,000 | 17,964,000 | 12,592,000 | 10,919,000 | 21,000 |
| Current ratio | 1.06 | 0.87 | 1.05 | 1.36 | 574.52 |
October 27, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $14,417,000K ÷ $13,561,000K
= 1.06
The current ratio of Deere & Company has experienced fluctuations over the past five years. In 2024, the current ratio stands at 1.06, indicating that the company has $1.06 in current assets to cover every $1 in current liabilities. This suggests that Deere & Company may have sufficient current assets to meet its short-term obligations.
Comparing this to the previous year, where the current ratio was 0.87, there has been an improvement in the company's liquidity position. However, it is important to note that a lower current ratio in 2023 may have indicated potential liquidity constraints for Deere & Company.
In 2022, the current ratio was 1.05, which was slightly lower than in 2024. This indicates a relatively stable liquidity position for the company during that period.
The current ratio for 2021 was 1.36, showing a stronger liquidity position compared to 2022 and 2023. This implies that Deere & Company had more current assets relative to current liabilities in 2021, which could indicate improved financial health.
Interestingly, in 2020, the current ratio was unusually high at 574.52. This significant spike could be attributed to specific events or accounting anomalies during that year and may not provide a reliable indication of the company's typical liquidity position.
Overall, the trend in Deere & Company's current ratio suggests some variability in the company's liquidity position over the past five years, with improvements in certain years and potential challenges in others. It is essential for stakeholders to monitor this ratio closely to assess the company's ability to meet its short-term obligations.
Peer comparison
Oct 27, 2024