Insteel Industries Inc (IIIN)
Current ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 267,294 | 257,124 | 239,699 | 231,817 | 298,853 | 297,635 | 287,879 | 288,211 | 335,332 | 343,665 | 282,804 | 226,804 | 246,906 | 227,813 | 192,242 | 168,883 | 197,038 | 196,786 | 176,272 | 174,241 |
| Total current liabilities | US$ in thousands | 47,034 | 44,715 | 33,384 | 33,437 | 46,155 | 51,059 | 45,089 | 44,913 | 62,596 | 95,036 | 73,816 | 62,574 | 68,849 | 75,629 | 59,193 | 46,773 | 53,678 | 59,730 | 48,125 | 40,282 |
| Current ratio | 5.68 | 5.75 | 7.18 | 6.93 | 6.47 | 5.83 | 6.38 | 6.42 | 5.36 | 3.62 | 3.83 | 3.62 | 3.59 | 3.01 | 3.25 | 3.61 | 3.67 | 3.29 | 3.66 | 4.33 |
September 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $267,294K ÷ $47,034K
= 5.68
Insteel Industries Inc's current ratio has shown fluctuation over the past several quarters. As of September 30, 2024, the current ratio stands at 5.68, indicating that the company has $5.68 in current assets for every $1 in current liabilities. This represents a slight decrease from the previous quarter but remains at a healthy level, suggesting the company has a strong ability to meet its short-term obligations.
Looking back over the past year, the current ratio has generally been above 3, which is considered a good benchmark for most companies. The peak current ratio of 7.18 in March 2024 suggests that at that time, the company had a particularly strong liquidity position. However, there have been periods, such as in the third and fourth quarters of 2021, where the current ratio dipped below 4, indicating potential challenges in meeting short-term obligations.
Overall, the trend in Insteel Industries Inc's current ratio indicates a generally healthy liquidity position, with fluctuations reflecting changes in the company's current asset and liability levels. It is important for the company to maintain a balance between asset and liability management to ensure continued ability to meet its short-term financial commitments.
Peer comparison
Sep 30, 2024