Home Depot Inc (HD)

Current ratio

		Jan 28, 2024	Oct 29, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 30, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Nov 1, 2020	Aug 2, 2020	May 3, 2020	Feb 2, 2020	Nov 3, 2019	Aug 4, 2019	May 5, 2019
Total current assets	US$ in thousands	29,775,000	30,682,000	31,830,000	32,423,000	32,471,000	33,681,000	32,941,000	33,867,000	29,055,000	30,466,000	28,262,000	30,672,000	28,477,000	34,505,000	31,361,000	27,277,000	19,810,000	21,174,000	20,699,000	20,553,000
Total current liabilities	US$ in thousands	22,015,000	23,572,000	24,227,000	25,446,000	23,110,000	24,280,000	27,834,000	30,387,000	28,693,000	26,903,000	26,666,000	27,758,000	23,166,000	25,395,000	24,199,000	23,348,000	18,375,000	19,565,000	18,798,000	19,673,000
Current ratio		1.35	1.30	1.31	1.27	1.41	1.39	1.18	1.11	1.01	1.13	1.06	1.10	1.23	1.36	1.30	1.17	1.08	1.08	1.10	1.04

January 28, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $29,775,000K ÷ $22,015,000K
= 1.35

The current ratio of Home Depot Inc has shown some fluctuations over the past few quarters. As of January 28, 2024, the current ratio stood at 1.35, which indicates that the company had $1.35 in current assets for every $1 in current liabilities. This represents a slight improvement from the previous quarter but was lower compared to the ratio reported in the same period a year ago.

Overall, Home Depot's current ratio has generally been above 1, signaling that the company has had sufficient current assets to cover its short-term obligations. A current ratio above 1 is typically considered healthy as it suggests that the company is able to meet its short-term liabilities using its current assets. However, the fluctuations in the ratio over the past few quarters may indicate changes in the company's liquidity position, which should be further examined in conjunction with other financial metrics.