Callaway Golf Company (MODG)
Current ratio
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,628,100 | 1,602,700 | 1,657,900 | 1,754,800 | 1,518,900 | 1,360,800 | 1,341,700 | 1,403,500 | 1,165,700 | 1,339,410 | 1,254,050 | 1,203,190 | 912,627 | 925,146 | 840,561 | 934,122 | 789,350 | 731,845 | 785,980 | 823,312 |
| Total current liabilities | US$ in thousands | 947,600 | 909,200 | 932,600 | 1,074,600 | 1,176,200 | 1,039,000 | 1,036,300 | 1,156,500 | 866,000 | 840,155 | 787,632 | 696,339 | 391,272 | 371,410 | 343,620 | 648,908 | 523,246 | 407,905 | 461,791 | 518,238 |
| Current ratio | 1.72 | 1.76 | 1.78 | 1.63 | 1.29 | 1.31 | 1.29 | 1.21 | 1.35 | 1.59 | 1.59 | 1.73 | 2.33 | 2.49 | 2.45 | 1.44 | 1.51 | 1.79 | 1.70 | 1.59 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,628,100K ÷ $947,600K
= 1.72
The current ratio of Topgolf Callaway Brands Corp has been fluctuating over the past eight quarters. The ratio peaked at 1.78 in Q2 2023, indicating the company had $1.78 in current assets to cover each dollar of current liabilities. This suggests a strong short-term liquidity position. However, the ratio decreased to 1.63 in Q1 2023 before increasing again in Q4 2023 to 1.72.
Comparing the current ratio to previous years, there has been a noticeable improvement from Q4 2022, where the ratio was only 1.29. This progression suggests that the company has been managing its current assets and liabilities more effectively. The current ratio generally above 1 indicates that the company has more than enough current assets to cover its short-term obligations, providing a good buffer against liquidity risks.
Peer comparison
Dec 31, 2023