Mesa Laboratories Inc (MLAB)

Current ratio

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Total current assets	US$ in thousands	109,352	118,975	124,318	303,749	122,792
Total current liabilities	US$ in thousands	44,312	43,359	48,055	32,583	26,008
Current ratio		2.47	2.74	2.59	9.32	4.72

March 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $109,352K ÷ $44,312K
= 2.47

The current ratio of Mesa Laboratories Inc has shown some fluctuation over the past five years. In the most recent fiscal year ending March 31, 2024, the current ratio decreased to 2.47 from 2.74 in the previous year. Despite this decrease, the current ratio remains at a healthy level above 1, indicating the company's ability to meet its short-term obligations with its current assets.

It is important to note that the current ratio was significantly higher in the fiscal years ending March 31, 2021 and March 31, 2020, reaching 9.32 and 4.72 respectively. This suggests that the company had a higher level of current assets relative to current liabilities in those years.

Overall, Mesa Laboratories Inc's current ratio has experienced some variations in recent years, but has generally remained at a level that indicates the company's liquidity and ability to cover its short-term liabilities with its current assets.