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.
Peer comparison
Dec 31, 2023