Owens Corning Inc (OC)
Current ratio
| 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 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,917,000 | 3,949,000 | 3,791,000 | 3,593,000 | 3,556,000 | 3,567,000 | 3,689,000 | 3,431,000 | 3,097,000 | 3,143,000 | 3,124,000 | 2,738,000 | 2,606,000 | 2,633,000 | 2,604,000 | 2,332,000 | 2,061,000 | 2,130,000 | 2,239,000 | 2,333,000 |
| Total current liabilities | US$ in thousands | 2,324,000 | 1,826,000 | 1,832,000 | 1,933,000 | 2,104,000 | 2,014,000 | 1,974,000 | 1,999,000 | 1,697,000 | 1,686,000 | 1,637,000 | 1,467,000 | 1,440,000 | 1,351,000 | 1,393,000 | 1,430,000 | 1,329,000 | 1,261,000 | 1,325,000 | 1,275,000 |
| Current ratio | 1.69 | 2.16 | 2.07 | 1.86 | 1.69 | 1.77 | 1.87 | 1.72 | 1.82 | 1.86 | 1.91 | 1.87 | 1.81 | 1.95 | 1.87 | 1.63 | 1.55 | 1.69 | 1.69 | 1.83 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,917,000K ÷ $2,324,000K
= 1.69
The current ratio of Owens Corning has shown fluctuations over the past eight quarters, ranging from 1.69 to 2.16. The ratio measures the company's ability to meet its short-term obligations with its current assets. A current ratio above 1 indicates that Owens Corning has more current assets than current liabilities.
The current ratio peaked at 2.16 in Q3 2023, indicating a strong ability to cover short-term obligations. However, in the following quarter (Q4 2023), the current ratio decreased to 1.69, which may raise concerns about the company's liquidity position.
Overall, Owens Corning has maintained its current ratio above 1 in all quarters, suggesting a generally healthy liquidity position. It is important for stakeholders to closely monitor changes in the current ratio to assess the company's short-term financial health and ability to meet its obligations.