Myers Industries Inc (MYE)
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 | 256,621 | 247,411 | 256,620 | 266,779 | 257,207 | 267,912 | 274,639 | 254,806 | 219,914 | 228,558 | 201,211 | 190,747 | 183,730 | 211,975 | 198,889 | 190,632 | 185,042 | 187,393 | 195,266 | 183,528 |
| Total current liabilities | US$ in thousands | 165,107 | 163,879 | 164,307 | 175,209 | 137,762 | 153,327 | 160,051 | 149,015 | 132,500 | 128,045 | 127,148 | 113,690 | 142,247 | 124,986 | 120,443 | 119,755 | 82,625 | 89,278 | 86,565 | 87,483 |
| Current ratio | 1.55 | 1.51 | 1.56 | 1.52 | 1.87 | 1.75 | 1.72 | 1.71 | 1.66 | 1.78 | 1.58 | 1.68 | 1.29 | 1.70 | 1.65 | 1.59 | 2.24 | 2.10 | 2.26 | 2.10 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $256,621K ÷ $165,107K
= 1.55
Myers Industries Inc.'s current ratio has shown some fluctuations over the past eight quarters. The current ratio measures the company's ability to cover its short-term liabilities with its short-term assets.
In Q4 2023, the current ratio of 1.55 indicates that the company had $1.55 in current assets for every $1 in current liabilities. This suggests a relatively healthy liquidity position, though slightly lower than the previous quarter.
The quarterly trend over the past year shows some variability, with the current ratio ranging from 1.51 to 1.87. Generally, the company has maintained a current ratio above 1.5, indicating that it has generally been able to meet its short-term obligations.
However, the decreasing trend observed in the most recent quarters could signal that the company may be facing challenges in managing its short-term liquidity or that its current liabilities are increasing at a faster rate than its current assets.
It is important for investors and stakeholders to monitor the company's current ratio over time to assess its ability to address short-term financial obligations effectively.
Peer comparison
Dec 31, 2023