Quanex Building Products (NX)
Current ratio
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 252,995 | 273,600 | 287,588 | 263,759 | 266,608 | 280,665 | 306,385 | 298,920 | 260,079 | 249,047 | 244,575 | 234,505 | 209,253 | 207,306 | 197,421 | 231,818 | 173,198 | 190,326 | 185,985 | 195,947 |
| Total current liabilities | US$ in thousands | 111,454 | 134,663 | 135,367 | 118,648 | 119,990 | 139,843 | 158,731 | 146,588 | 131,628 | 158,001 | 142,354 | 135,722 | 112,213 | 130,240 | 106,939 | 79,042 | 90,578 | 109,754 | 86,630 | 84,350 |
| Current ratio | 2.27 | 2.03 | 2.12 | 2.22 | 2.22 | 2.01 | 1.93 | 2.04 | 1.98 | 1.58 | 1.72 | 1.73 | 1.86 | 1.59 | 1.85 | 2.93 | 1.91 | 1.73 | 2.15 | 2.32 |
January 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $252,995K ÷ $111,454K
= 2.27
The current ratio of Quanex Building Products has shown fluctuating trends over the past few quarters. As of Jan 31, 2024, the current ratio stands at 2.27, indicating that the company has $2.27 in current assets for every $1 in current liabilities. This suggests that Quanex Building Products has a strong ability to meet its short-term obligations.
When compared to the previous quarters, we observe variability in the current ratio. The ratio has ranged from a low of 1.58 in Oct 31, 2021, to a high of 2.93 in Apr 30, 2020. The upward trend in recent quarters suggests an improvement in the company's liquidity position, with the current ratio consistently above 2.00 since Jan 31, 2023.
Overall, the current ratio of Quanex Building Products has generally been above 2.00 in recent quarters, indicating a healthy liquidity position. However, it is essential to monitor this ratio over time to ensure sustained ability to cover short-term obligations.
Peer comparison
Jan 31, 2024