Gates Industrial Corporation plc (GTES)
Current ratio
| 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 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,376,500 | 2,287,100 | 2,401,300 | 2,317,900 | 2,374,400 | 2,356,800 | 2,277,400 | 2,216,900 | 2,247,000 | 2,206,600 | 2,278,700 | 2,223,000 | 2,122,500 | 1,999,000 | 1,906,600 | 2,046,100 | 1,959,400 | 1,997,900 | 1,958,600 | 1,863,900 |
| Total current liabilities | US$ in thousands | 763,400 | 747,900 | 779,300 | 780,400 | 798,200 | 738,200 | 752,300 | 746,700 | 771,500 | 788,500 | 855,900 | 842,400 | 840,800 | 756,600 | 726,300 | 653,900 | 629,300 | 667,700 | 658,100 | 583,200 |
| Current ratio | 3.11 | 3.06 | 3.08 | 2.97 | 2.97 | 3.19 | 3.03 | 2.97 | 2.91 | 2.80 | 2.66 | 2.64 | 2.52 | 2.64 | 2.63 | 3.13 | 3.11 | 2.99 | 2.98 | 3.20 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,376,500K ÷ $763,400K
= 3.11
The current ratio of Gates Industrial Corporation plc has shown some fluctuation over the past few quarters. The current ratio measures the company's ability to meet its short-term obligations with its current assets.
From Dec 31, 2019, to Mar 31, 2022, the current ratio ranged between 2.66 and 3.19, indicating a strong liquidity position. However, there was a slight decline in the ratio in the subsequent quarters, reaching a low of 2.64 at Mar 31, 2023.
The company then saw a recovery in its current ratio, peaking at 3.11 at Jun 30, 2024. This indicates an improvement in the company's ability to cover its short-term liabilities with its current assets.
Overall, the current ratio trend for Gates Industrial Corporation plc has shown variability but has generally remained above 2.5, which indicates a healthy liquidity position and suggests the company has sufficient current assets to meet its short-term obligations.
Peer comparison
Jun 30, 2024