Ingredion Incorporated (INGR)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,399,000 | 3,309,000 | 2,697,000 | 2,647,000 | 2,160,000 |
| Total current liabilities | US$ in thousands | 1,772,000 | 1,882,000 | 1,512,000 | 1,458,000 | 967,000 |
| Current ratio | 1.92 | 1.76 | 1.78 | 1.82 | 2.23 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,399,000K ÷ $1,772,000K
= 1.92
The current ratio of Ingredion Inc has exhibited a fluctuating trend over the past five years. As of December 31, 2023, the current ratio stands at 1.92, which indicates that the company's current assets are 1.92 times its current liabilities.
Comparing this ratio to previous years, we see a slight improvement from 1.76 in 2022 and 1.78 in 2021. However, it is below the levels seen in 2020 (1.82) and 2019 (2.23).
A current ratio above 1 signifies that the company has more current assets than current liabilities, suggesting a strong liquidity position. While the current ratio for 2023 is above 1, indicating that Ingredion Inc can meet its short-term obligations, the downward trend over the past few years may warrant further investigation into the company's liquidity management and working capital efficiency.
Peer comparison
Dec 31, 2023