Installed Building Products Inc (IBP)
Current ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,070,000 | 999,819 | 918,102 | 862,595 | 884,400 | 898,021 | 816,718 | 842,228 | 859,316 | 672,921 | 636,005 | 610,165 | 623,943 | 635,456 | 619,948 | 569,736 | 581,949 | 578,497 | 436,676 | 408,296 |
| Total current liabilities | US$ in thousands | 346,400 | 324,676 | 314,534 | 316,338 | 328,100 | 358,562 | 362,890 | 327,528 | 307,569 | 284,791 | 264,015 | 245,302 | 236,475 | 222,241 | 214,049 | 201,565 | 214,149 | 215,449 | 201,977 | 182,417 |
| Current ratio | 3.09 | 3.08 | 2.92 | 2.73 | 2.70 | 2.50 | 2.25 | 2.57 | 2.79 | 2.36 | 2.41 | 2.49 | 2.64 | 2.86 | 2.90 | 2.83 | 2.72 | 2.69 | 2.16 | 2.24 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,070,000K ÷ $346,400K
= 3.09
The current ratio of Installed Building Products Inc has shown a generally positive trend over the past eight quarters, indicating the company's improving ability to meet its short-term obligations with its current assets. In the most recent quarter of Q4 2023, the current ratio stood at 3.09, which was slightly higher compared to the previous quarter. This signifies that the company has $3.09 in current assets for every $1 of current liabilities.
The current ratio has consistently been above 2, demonstrating a comfortable level of liquidity for the company. The increase in the current ratio over the quarters suggests a strengthening financial position and enhanced liquidity management by Installed Building Products Inc.
Overall, the upward trend in the current ratio reflects the company's strong financial health and ability to cover its current liabilities with ease. This indicates that Installed Building Products Inc is well-positioned to meet its short-term financial obligations and fund its operations effectively.
Peer comparison
Dec 31, 2023