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.
Peer comparison
Dec 31, 2023