Howmet Aerospace Inc (HWM)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,316,000 | 3,143,000 | 2,737,000 | 3,672,000 | 5,843,000 |
| Total current liabilities | US$ in thousands | 1,784,000 | 1,482,000 | 1,253,000 | 1,660,000 | 4,125,000 |
| Current ratio | 1.86 | 2.12 | 2.18 | 2.21 | 1.42 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,316,000K ÷ $1,784,000K
= 1.86
The current ratio of Howmet Aerospace Inc has shown a declining trend over the past five years. As of December 31, 2023, the current ratio stands at 1.86, which indicates a decrease from the previous year's ratio of 2.12. The declining current ratio may suggest that the company's liquidity position has weakened in the most recent fiscal year. However, it is important to note that the current ratio remains above 1, which generally signifies that the company's short-term obligations can be met with its current assets. Further analysis and comparison with industry benchmarks would provide more insights into the company's liquidity management and financial health.
Peer comparison
Dec 31, 2023