Envista Holdings Corp (NVST)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,743,700 | 1,424,600 | 1,835,800 | 1,590,600 | 1,001,900 |
| Total current liabilities | US$ in thousands | 780,800 | 1,236,700 | 1,208,200 | 1,684,700 | 709,200 |
| Current ratio | 2.23 | 1.15 | 1.52 | 0.94 | 1.41 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,743,700K ÷ $780,800K
= 2.23
The current ratio of Envista Holdings Corp has fluctuated over the past five years, ranging from 0.94 in 2020 to 2.23 in 2023. This ratio indicates the company's ability to cover its short-term liabilities with its current assets.
In 2020, the current ratio was notably low at 0.94, suggesting a potential liquidity concern as the company may have had difficulty meeting its short-term obligations with its available current assets.
The ratio improved significantly in 2021 to 1.52, indicating a better ability to cover short-term liabilities with current assets.
However, in 2022, the current ratio decreased to 1.15, which could signal a potential decrease in liquidity or a change in the composition of current assets and liabilities.
There was a substantial improvement in the current ratio in 2023, reaching 2.23, which may indicate a stronger liquidity position for the company, with excess current assets compared to current liabilities.
Overall, fluctuations in the current ratio of Envista Holdings Corp over the years suggest varying levels of liquidity and the need for continued monitoring to ensure the company can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023