Minerals Technologies Inc (MTX)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,099,000 | 1,070,500 | 1,028,500 | 1,033,600 | 919,200 |
| Total current liabilities | US$ in thousands | 457,300 | 502,600 | 419,800 | 295,800 | 398,500 |
| Current ratio | 2.40 | 2.13 | 2.45 | 3.49 | 2.31 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,099,000K ÷ $457,300K
= 2.40
The current ratio of Minerals Technologies, Inc. has exhibited some fluctuations over the past five years. In 2023, it stands at 2.40, representing an increase from the prior year's ratio of 2.13 in 2022. The current ratio of 2.40 suggests that the company has $2.40 in current assets to cover each dollar of current liabilities, indicating a stronger liquidity position compared to the previous year.
When compared to 2021 and 2019, where the current ratios were 2.45 and 2.31, respectively, the current ratio for 2023 falls within a similar range, indicating relative stability in the company's ability to meet its short-term obligations using its current assets. However, it is important to note the significant decrease in the current ratio from 3.49 in 2020 to 2.13 in 2022, signifying a potential liquidity strain in the previous year.
Overall, while the current ratio has fluctuated over the five-year period, the current ratio of 2.40 in 2023 reflects a reasonable liquidity position for Minerals Technologies, Inc., indicating its ability to meet its short-term obligations with current assets.
Peer comparison
Dec 31, 2023