Minerals Technologies Inc (MTX)
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 | 1,099,000 | 1,094,200 | 1,079,800 | 1,114,900 | 1,070,500 | 1,073,500 | 1,067,500 | 1,090,300 | 1,028,500 | 1,029,800 | 1,085,500 | 1,044,600 | 1,033,600 | 1,047,900 | 884,400 | 897,600 | 919,200 | 920,100 | 931,100 | 903,900 |
| Total current liabilities | US$ in thousands | 457,300 | 473,500 | 472,200 | 513,000 | 502,600 | 493,500 | 465,900 | 455,100 | 419,800 | 423,300 | 293,900 | 288,800 | 295,800 | 272,000 | 509,000 | 381,500 | 398,500 | 409,900 | 405,600 | 390,800 |
| Current ratio | 2.40 | 2.31 | 2.29 | 2.17 | 2.13 | 2.18 | 2.29 | 2.40 | 2.45 | 2.43 | 3.69 | 3.62 | 3.49 | 3.85 | 1.74 | 2.35 | 2.31 | 2.24 | 2.30 | 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 shown some fluctuations over the past eight quarters. It ranged from a low of 2.13 in Q4 2022 to a high of 2.40 in Q1 2022. The ratio peaked again in Q4 2023 at 2.40.
A current ratio above 1 indicates that the company's current assets are sufficient to cover its current liabilities. Minerals Technologies, Inc. has consistently maintained a current ratio well above 1, indicating a strong liquidity position.
The increasing current ratio trend from Q2 2022 to Q1 2023 suggests an improvement in the company's ability to meet short-term obligations. However, the slight decline from Q1 2023 to Q4 2023 may indicate a potential decrease in liquidity, although the ratio remains at a healthy level.
Overall, based on the current ratio trend, Minerals Technologies, Inc. appears to be managing its short-term financial obligations effectively and maintaining a solid liquidity position.
Peer comparison
Dec 31, 2023