Quanex Building Products (NX)
Current ratio
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 273,600 | 280,665 | 249,047 | 207,306 | 190,326 |
| Total current liabilities | US$ in thousands | 134,663 | 139,843 | 158,001 | 130,240 | 109,754 |
| Current ratio | 2.03 | 2.01 | 1.58 | 1.59 | 1.73 |
October 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $273,600K ÷ $134,663K
= 2.03
The current ratio is a key financial ratio that measures a company's ability to meet its short-term obligations with its short-term assets. Quanex Building Products Corp's current ratio over the past five years is as follows:
- Oct 31, 2023: 2.03
- Oct 31, 2022: 2.01
- Oct 31, 2021: 1.58
- Oct 31, 2020: 1.59
- Oct 31, 2019: 1.73
A current ratio above 1 indicates that a company has more current assets than current liabilities, suggesting that it can easily cover its short-term obligations.
The trend in Quanex Building Products Corp's current ratio shows fluctuations over the past five years. The current ratio increased from 2019 to 2020, but then decreased in 2021 before increasing again in 2022 and 2023.
The current ratio of 2.03 in 2023 indicates that the company had $2.03 in current assets for every $1 of current liabilities. This suggests that Quanex Building Products Corp is well positioned to cover its short-term obligations.
Overall, Quanex Building Products Corp's current ratio indicates a strong ability to meet its short-term financial commitments, which could be a positive indicator of its financial health and liquidity position.
Peer comparison
Oct 31, 2023