Comfort Systems USA Inc (FIX)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,911,100 | 1,307,670 | 1,027,320 | 811,852 | 790,184 |
| Total current liabilities | US$ in thousands | 1,721,200 | 1,170,800 | 836,554 | 692,904 | 607,997 |
| Current ratio | 1.11 | 1.12 | 1.23 | 1.17 | 1.30 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,911,100K ÷ $1,721,200K
= 1.11
Comfort Systems USA, Inc.'s current ratio has exhibited a declining trend over the last five years. The ratio decreased from 1.30 in 2019 to 1.11 in 2023. This implies that the company's current assets may be becoming less adequate to cover its current liabilities over time. While the current ratio is above 1 in each of the years, indicating that the company has more current assets than current liabilities, the decreasing trend raises concerns about the company's liquidity position. It may suggest inefficiencies in managing current assets or an increase in current liabilities without a proportionate increase in current assets. Further analysis of the components of current assets and liabilities is needed to provide deeper insights into the company's liquidity management and operational efficiency.
Peer comparison
Dec 31, 2023