Garmin Ltd (GRMN)

Current ratio

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total current assets	US$ in thousands	4,464,140	4,156,910	4,111,000	3,964,000	3,955,150	3,968,120	4,122,620	4,082,200	4,261,770	4,008,970	3,883,760	3,557,920	3,669,350	3,341,870	3,258,440	2,928,890	3,057,850	2,757,840	2,460,580	2,512,140
Total current liabilities	US$ in thousands	1,310,690	1,327,800	1,449,650	1,008,200	1,211,640	1,442,920	1,623,890	1,152,500	1,448,150	1,373,940	1,458,830	933,125	1,164,220	1,122,960	1,163,930	781,872	1,035,930	1,042,960	1,027,700	622,526
Current ratio		3.41	3.13	2.84	3.93	3.26	2.75	2.54	3.54	2.94	2.92	2.66	3.81	3.15	2.98	2.80	3.75	2.95	2.64	2.39	4.04

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $4,464,140K ÷ $1,310,690K
= 3.41

The current ratio of Garmin Ltd has shown fluctuations over the past few quarters, ranging from a low of 2.39 to a high of 4.04. Generally, a current ratio above 2 is considered healthy, indicating that the company has more than enough current assets to cover its current liabilities.

In the most recent quarter, the current ratio stood at 3.41, which suggests that Garmin Ltd has a strong ability to meet its short-term obligations with its current assets. The significant increase from the previous quarter's ratio of 3.13 indicates an improvement in the company's liquidity position.

Overall, the trend in Garmin Ltd's current ratio demonstrates a solid financial position with sufficient short-term liquidity to cover its short-term liabilities. However, it is essential to monitor this ratio over time to ensure continued financial stability.