MYR Group Inc (MYRG)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,026,240 | 890,291 | 748,390 | 636,684 | 639,184 |
| Total current liabilities | US$ in thousands | 747,202 | 666,960 | 498,599 | 443,400 | 396,814 |
| Current ratio | 1.37 | 1.33 | 1.50 | 1.44 | 1.61 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,026,240K ÷ $747,202K
= 1.37
The current ratio of MYR Group Inc has exhibited some fluctuations over the past five years. The ratio indicates the company's ability to cover its short-term liabilities with its current assets.
In 2023, the current ratio stands at 1.37, showing that the company has $1.37 in current assets for every $1 in current liabilities. While this ratio has increased slightly from the previous year, it remains lower than the ratios observed in 2021 and 2019.
The downward trend in the current ratio from 2021 to 2022 and the subsequent increase in 2023 may suggest fluctuations in the company's liquidity position. It is important to monitor this ratio closely to ensure that MYR Group Inc can meet its short-term obligations effectively.
Overall, a current ratio above 1 indicates that the company has more current assets than current liabilities, which is a positive sign. However, the analysis should consider other factors such as the nature of the industry, the company's operating cycle, and any potential seasonality in its business operations to gain a comprehensive understanding of MYR Group Inc's liquidity position.
Peer comparison
Dec 31, 2023