Grid Dynamics Holdings Inc (GDYN)

Current ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Total current assets	US$ in thousands	423,304	323,980	323,126	192,764	134,616
Total current liabilities	US$ in thousands	55,544	42,223	38,710	25,344	13,318
Current ratio		7.62	7.67	8.35	7.61	10.11

December 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $423,304K ÷ $55,544K
= 7.62

Grid Dynamics Holdings Inc's current ratio has shown some fluctuations over the past five years. As of December 31, 2020, the current ratio was at a high level of 10.11, indicating a healthy ability to cover its short-term obligations with current assets. However, in the subsequent years, the current ratio decreased, reaching 7.61 by December 31, 2021. This decline may suggest a potential weakening in the company's short-term liquidity position.

Although there was a slight improvement to 8.35 by December 31, 2022, the current ratio dropped again to 7.67 by December 31, 2023. The trend continued with a current ratio of 7.62 as of December 31, 2024. These lower current ratios in the later years could indicate a decreased ability to meet short-term obligations with current assets.

Overall, the current ratio trend for Grid Dynamics Holdings Inc shows some volatility, with fluctuations from a strong level in 2020 to relatively lower levels in the subsequent years. Investors and analysts may need to further investigate the company's liquidity management and assess the implications of these changes on its financial health.