O-I Glass Inc (OI)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,884,000 | 2,603,000 | 2,519,000 | 2,297,000 | 2,488,000 |
| Total current liabilities | US$ in thousands | 2,346,000 | 2,357,000 | 1,846,000 | 1,898,000 | 1,995,000 |
| Current ratio | 1.23 | 1.10 | 1.36 | 1.21 | 1.25 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,884,000K ÷ $2,346,000K
= 1.23
The current ratio of O-I Glass Inc has exhibited fluctuations over the past five years. As of December 31, 2023, the current ratio stands at 1.23, showing an improvement compared to the prior year of 1.10.
A current ratio above 1 indicates that the company's current assets are sufficient to cover its current liabilities. In 2023, for every dollar of current liabilities, O-I Glass Inc has $1.23 in current assets. This suggests that the company has a healthy liquidity position, enabling it to meet its short-term obligations comfortably.
While the current ratio has seen some variability over the years, it is important to monitor trends in liquidity ratios like this as they provide insights into a company's ability to manage its short-term financial obligations. Investors and creditors often use these ratios to assess the financial health and stability of a company.