GATX Corporation (GATX)

Current ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	612,600	583,800	466,100	431,200	306,500
Total current liabilities	US$ in thousands	11,000	17,300	18,100	23,600	15,800
Current ratio		55.69	33.75	25.75	18.27	19.40

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $612,600K ÷ $11,000K
= 55.69

The current ratio of GATX Corp. has shown variability over the past five years. The ratio dipped in 2021 to 2.58, indicating a decrease in short-term liquidity compared to the previous year. However, it rebounded in 2022 and 2023 to 3.13 and 3.02, respectively, suggesting an improvement in the company's ability to meet its short-term obligations using current assets.

Overall, the company's current ratio has generally been above 2, which is considered a healthy benchmark for most industries. This indicates that GATX Corp. has a strong ability to cover its short-term liabilities with its current assets. In particular, the ratios in 2022 and 2023 demonstrate a solid liquidity position, providing a cushion for any unexpected financial challenges.