nVent Electric PLC (NVT)
Current ratio
| Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,422,700 | 1,373,900 | 1,336,100 | 1,299,900 | 1,296,100 | 1,251,800 | 1,229,200 | 1,212,800 | 1,068,300 | 964,900 | 911,500 | 889,700 | 902,500 | 799,000 | 764,400 | 816,000 | 883,100 | 885,800 | 798,700 | 806,400 |
| Total current liabilities | US$ in thousands | 654,100 | 690,300 | 733,600 | 659,400 | 620,600 | 601,300 | 649,500 | 645,000 | 612,100 | 588,300 | 636,300 | 571,200 | 535,800 | 463,800 | 450,000 | 409,900 | 386,200 | 409,200 | 462,200 | 437,300 |
| Current ratio | 2.18 | 1.99 | 1.82 | 1.97 | 2.09 | 2.08 | 1.89 | 1.88 | 1.75 | 1.64 | 1.43 | 1.56 | 1.68 | 1.72 | 1.70 | 1.99 | 2.29 | 2.16 | 1.73 | 1.84 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,422,700K ÷ $654,100K
= 2.18
nVent Electric PLC's current ratio has shown fluctuations over the past several quarters. The current ratio measures the company's ability to cover its short-term obligations with its current assets.
As of June 30, 2024, the current ratio stands at 2.18, which indicates that the company had $2.18 in current assets for every $1 in current liabilities. This suggests that nVent Electric had a strong liquidity position at the end of the second quarter of 2024.
The current ratio has generally been above 1, reflecting that the company has had more current assets than current liabilities, indicating a healthy liquidity position. The ratio peaked at 2.29 in September 2020 and hit a low of 1.43 in December 2021.
Overall, nVent Electric PLC's current ratio has shown variability but has mostly remained above 1, indicating the company's ability to meet its short-term obligations. It is important for stakeholders to monitor the current ratio trend over time to assess the company's liquidity and financial health.
Peer comparison
Jun 30, 2024