Griffon Corporation (GFF)
Current ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 929,476 | 966,399 | 1,007,170 | 962,606 | 980,591 | 1,131,240 | 1,214,570 | 1,182,760 | 1,214,670 | 1,342,150 | 1,650,090 | 1,354,400 | 1,368,680 | 1,226,860 | 1,191,740 | 1,144,330 | 1,106,030 | 987,950 | 1,003,720 | 945,954 |
| Total current liabilities | US$ in thousands | 348,990 | 386,708 | 361,737 | 391,679 | 359,149 | 382,303 | 381,653 | 390,859 | 423,579 | 594,637 | 583,269 | 512,838 | 531,636 | 466,477 | 458,575 | 446,798 | 441,822 | 436,171 | 387,120 | 388,511 |
| Current ratio | 2.66 | 2.50 | 2.78 | 2.46 | 2.73 | 2.96 | 3.18 | 3.03 | 2.87 | 2.26 | 2.83 | 2.64 | 2.57 | 2.63 | 2.60 | 2.56 | 2.50 | 2.27 | 2.59 | 2.43 |
September 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $929,476K ÷ $348,990K
= 2.66
The current ratio for Griffon Corporation has displayed some fluctuations over the past few years, ranging from a low of 2.26 to a high of 3.18. The current ratio measures the company's ability to meet its short-term obligations with its current assets. A current ratio above 2.0 generally indicates that a company has a strong ability to cover its short-term liabilities.
In recent quarters, the current ratio has generally been above 2.0, which is a positive sign. Specifically, in the most recent quarter, the current ratio stands at 2.66, indicating that Griffon Corporation has $2.66 in current assets for every $1 in current liabilities. This suggests that the company is in a strong position to meet its short-term financial obligations.
It is worth noting that the current ratio has experienced some variability over the periods analyzed, potentially due to changes in the composition of current assets and liabilities. Overall, a current ratio above 2.0 for the majority of the periods underscores Griffon Corporation's ability to manage its short-term financial obligations effectively.