Iridium Communications Inc (IRDM)
Current ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 292,730 | 271,084 | 306,204 | 424,410 | 347,821 |
| Total current liabilities | US$ in thousands | 169,214 | 131,554 | 141,577 | 108,836 | 113,072 |
| Current ratio | 1.73 | 2.06 | 2.16 | 3.90 | 3.08 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $292,730K ÷ $169,214K
= 1.73
Based on the data provided, the current ratio of Iridium Communications Inc has shown fluctuations over the past five years.
As of December 31, 2020, the current ratio stood at 3.08, indicating that the company had $3.08 in current assets for every $1 in current liabilities. This ratio increased to 3.90 by December 31, 2021, suggesting an improvement in the company's short-term liquidity position.
However, the current ratio declined to 2.16 by December 31, 2022, and further to 2.06 by December 31, 2023. These decreases may indicate potential difficulties in meeting its short-term obligations with its current assets.
By December 31, 2024, the current ratio dropped to 1.73, which could raise concerns about the company's ability to cover its immediate liabilities with its current assets.
Overall, it is essential for stakeholders to monitor Iridium Communications Inc's current ratio closely to assess its short-term liquidity and financial health.
Peer comparison
Dec 31, 2024