Everus Construction Group Inc (ECG)
Current ratio
| Sep 30, 2024 | Jun 30, 2024 | Dec 31, 2023 | ||
|---|---|---|---|---|
| Total current assets | US$ in thousands | 886,532 | 907,618 | 766,063 |
| Total current liabilities | US$ in thousands | 559,561 | 484,420 | 452,183 |
| Current ratio | 1.58 | 1.87 | 1.69 |
September 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $886,532K ÷ $559,561K
= 1.58
The current ratio of Everus Construction Group Inc has shown a decreasing trend over the past quarters, declining from 1.69 as of December 31, 2023, to 1.58 as of September 30, 2024. However, it experienced a slight improvement in the immediate preceding quarter, with a current ratio of 1.87 as of June 30, 2024.
The current ratio measures the company's ability to meet its short-term financial obligations with its current assets. A current ratio above 1 indicates that the company has more current assets than current liabilities, which is a positive sign for short-term financial health.
Although the current ratio of 1.58 as of September 30, 2024, is still above 1, indicating that Everus Construction Group Inc has sufficient current assets to cover its current liabilities, management may need to monitor this ratio closely to ensure it remains at a healthy level. It is important to delve deeper into the company's financial position to understand the reasons behind the fluctuation in the current ratio and take appropriate actions if needed.
Peer comparison
Sep 30, 2024