Heartland Express Inc (HTLD)

Current ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	169,272	229,782	233,223	193,012	151,814
Total current liabilities	US$ in thousands	123,476	156,757	71,594	71,042	63,407
Current ratio		1.37	1.47	3.26	2.72	2.39

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $169,272K ÷ $123,476K
= 1.37

The current ratio of Heartland Express, Inc. has fluctuated over the past five years. In 2023, the current ratio stands at 1.37, a decrease from the previous year's ratio of 1.47. However, it is worth noting that the current ratio in 2021 was significantly higher at 3.26, indicating a stronger ability to cover short-term liabilities with current assets. The ratios in 2020 and 2019 were 2.72 and 2.39, respectively, showing a relatively stable range in the past years.

A current ratio above 1 signifies that Heartland Express, Inc. has more current assets than current liabilities, indicating a healthy liquidity position. However, the decreasing trend in recent years may raise some concerns about the company’s ability to meet its short-term obligations using its current assets.

Further analysis and comparison with industry benchmarks and peers may provide more insights into the company's liquidity management and financial health.