Haynes International Inc (HAYN)
Current ratio
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 539,166 | 464,422 | 361,606 | 351,535 | 371,873 |
| Total current liabilities | US$ in thousands | 76,789 | 80,879 | 74,213 | 38,215 | 60,080 |
| Current ratio | 7.02 | 5.74 | 4.87 | 9.20 | 6.19 |
September 30, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $539,166K ÷ $76,789K
= 7.02
The current ratio of Haynes International Inc. has shown a fluctuating trend over the past five years. In 2023, the current ratio stood at 7.02, reflecting a significant increase from the previous year's 5.74. This indicates a substantial improvement in the company's ability to meet its short-term liabilities using its current assets.
In 2021 and 2019, the company's current ratio was 4.87 and 6.19, respectively, showing a moderate level of liquidity. However, in 2020, the current ratio spiked to 9.20, highlighting a strong ability to cover short-term obligations with current assets.
The current ratio measures the company's short-term liquidity and its ability to cover immediate financial obligations. While the recent increase in the current ratio may signify improved liquidity, it is essential to assess the components of current assets and liabilities in further detail to fully interpret the company's financial health.
Peer comparison
Sep 30, 2023