Granite Construction Incorporated (GVA)
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 | 1,643,450 | 1,695,050 | 1,491,190 | 1,246,240 | 1,347,300 | 1,574,380 | 1,586,850 | 1,573,860 | 1,827,400 | 1,665,430 | 1,566,430 | 1,450,740 | 1,455,250 | 1,545,300 | 1,423,940 | 1,301,060 | 1,376,940 | 1,493,290 | 1,377,420 | 1,209,840 |
| Total current liabilities | US$ in thousands | 1,029,880 | 1,056,480 | 867,234 | 723,367 | 797,594 | 1,052,030 | 1,000,080 | 935,666 | 1,069,320 | 1,100,350 | 1,048,290 | 1,000,140 | 943,256 | 974,593 | 889,600 | 809,562 | 842,056 | 876,526 | 839,722 | 675,777 |
| Current ratio | 1.60 | 1.60 | 1.72 | 1.72 | 1.69 | 1.50 | 1.59 | 1.68 | 1.71 | 1.51 | 1.49 | 1.45 | 1.54 | 1.59 | 1.60 | 1.61 | 1.64 | 1.70 | 1.64 | 1.79 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,643,450K ÷ $1,029,880K
= 1.60
Granite Construction Inc.'s current ratio has displayed some fluctuation over the past eight quarters. The current ratio provides an indication of the company's ability to cover its short-term liabilities with its current assets. The current ratio has ranged from a low of 1.52 in Q3 2022 to a high of 1.72 in Q2 2023 and Q1 2023. Generally, a current ratio above 1.0 suggests that the company has more current assets than current liabilities, which is a positive indicator of financial health. Granite Construction Inc.'s current ratio has been consistently above 1.5, indicating a healthy liquidity position. However, the slight fluctuations in the current ratio may warrant further investigation into the company's management of current assets and liabilities.
Peer comparison
Dec 31, 2023