Nordson Corporation (NDSN)
Current ratio
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,229,310 | 1,132,970 | 1,164,840 | 1,020,610 | 1,011,200 |
| Total current liabilities | US$ in thousands | 582,089 | 834,203 | 445,394 | 363,089 | 477,626 |
| Current ratio | 2.11 | 1.36 | 2.62 | 2.81 | 2.12 |
October 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,229,310K ÷ $582,089K
= 2.11
The current ratio of Nordson Corp. has fluctuated over the past five years, indicating changes in its short-term liquidity position. In 2023, the current ratio improved to 2.11 from 1.36 in 2022, potentially signifying a stronger ability to meet its short-term obligations. However, it is still lower than the ratio in 2020 and 2021. While the company's current assets may be adequate to cover its current liabilities, further analysis of the components driving the current ratio shift is necessary to fully evaluate Nordson Corp.'s short-term financial health.
Peer comparison
Oct 31, 2023