Insteel Industries Inc (IIIN)
Current ratio
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 267,294 | 298,853 | 335,332 | 246,906 | 197,038 |
| Total current liabilities | US$ in thousands | 47,034 | 46,155 | 62,596 | 68,849 | 53,678 |
| Current ratio | 5.68 | 6.47 | 5.36 | 3.59 | 3.67 |
September 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $267,294K ÷ $47,034K
= 5.68
Insteel Industries Inc has shown a fluctuating trend in its current ratio over the past five years. The current ratio, which indicates the company's ability to meet its short-term obligations with its current assets, stood at 5.68 as of September 30, 2024. This marks a decrease from the previous year's ratio of 6.47 but remains at a relatively high level.
The current ratio was highest in 2023 at 6.47, indicating a strong ability to cover short-term liabilities with current assets. This was followed by a ratio of 5.36 in 2022, showcasing a slight decrease compared to the prior year but still remaining above average.
In 2021, the current ratio was 3.59, representing a significant drop from the previous year. However, the ratio rebounded to 3.67 in 2020, although still lower than the levels seen in 2022 and 2023.
Overall, Insteel Industries Inc has generally maintained a healthy current ratio over the years, indicating a solid liquidity position and ability to fulfill short-term obligations. The fluctuation in the ratio suggests varying levels of current assets to cover short-term liabilities, with the most recent ratio of 5.68 reflecting a stronger current asset position relative to current liabilities.
Peer comparison
Sep 30, 2024