IDACORP Inc (IDA)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,004,050 | 693,653 | 595,873 | 642,401 | 565,146 |
| Total current liabilities | US$ in thousands | 634,076 | 548,565 | 325,624 | 287,571 | 374,859 |
| Current ratio | 1.58 | 1.26 | 1.83 | 2.23 | 1.51 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,004,050K ÷ $634,076K
= 1.58
The current ratio of Idacorp, Inc. has fluctuated over the past five years, with a noticeable decline in 2022 and a subsequent increase in 2023. The current ratio indicates the company's ability to meet its short-term liabilities with its current assets. A current ratio greater than 1 means the company has more current assets than current liabilities.
In 2023, Idacorp, Inc. had a current ratio of 1.58, indicating that for every $1 of current liabilities, the company had $1.58 of current assets available. This suggests that the company had sufficient current assets to cover its short-term obligations.
The decrease in the current ratio in 2022 to 1.26 may suggest potential liquidity concerns as the company may have had fewer current assets relative to its current liabilities. However, the subsequent increase in 2023 to 1.58 indicates an improvement in the company's short-term liquidity position.
Overall, while the current ratio has fluctuated over the years, it currently stands at a healthy level in 2023, reflecting a favorable ability to meet short-term obligations with current assets.
Peer comparison
Dec 31, 2023