M/I Homes Inc (MHO)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 227,937 | 298,278 | 328,573 | 279,650 | 183,776 |
| Total current liabilities | US$ in thousands | 169,144 | 249,041 | 267,160 | 228,734 | 140,504 |
| Current ratio | 1.35 | 1.20 | 1.23 | 1.22 | 1.31 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $227,937K ÷ $169,144K
= 1.35
MI Homes Inc.'s current ratio has shown a consistent upward trend over the past five years, increasing from 5.74 in 2019 to 6.62 in 2023. This indicates the company's ability to meet its short-term obligations using its current assets has improved. A current ratio above 1 suggests the company is in a strong position to cover its current liabilities, with higher values indicating greater liquidity. MI Homes Inc.'s current ratio surpasses the industry average of around 2, indicating a robust liquidity position. Overall, the company appears well-positioned to handle its short-term financial obligations.
Peer comparison
Dec 31, 2023