Fortune Brands Innovations Inc. (FBIN)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,045,700 | 2,460,400 | 2,744,500 | 2,208,500 | 1,898,200 |
| Total current liabilities | US$ in thousands | 1,200,400 | 1,544,700 | 1,971,100 | 1,345,100 | 1,409,300 |
| Current ratio | 1.70 | 1.59 | 1.39 | 1.64 | 1.35 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,045,700K ÷ $1,200,400K
= 1.70
The current ratio of Fortune Brands Innovations Inc. has exhibited some fluctuations over the past five years. In 2023, the company's current ratio improved to 1.70 from 1.59 in 2022, indicating a stronger ability to cover its short-term debt obligations with its current assets. This increase suggests an improvement in the company's liquidity position compared to the previous year.
Looking back further, the company's current ratio was 1.39 in 2021, 1.64 in 2020, and 1.35 in 2019. These figures show some variability in the company's liquidity position over the years, with the ratio generally fluctuating within a certain range.
Overall, while the current ratio has shown variability, the recent increase to 1.70 in 2023 suggests a positive trend in the company's ability to meet its short-term obligations with its current assets. However, further analysis considering other liquidity ratios and the company's industry benchmarks would provide a more comprehensive understanding of Fortune Brands Innovations Inc.'s liquidity position.
Peer comparison
Dec 31, 2023