Ormat Technologies Inc (ORA)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 646,003 | 456,717 | 601,932 | 779,154 | 415,664 |
| Total current liabilities | US$ in thousands | 537,012 | 343,910 | 544,156 | 248,647 | 376,476 |
| Current ratio | 1.20 | 1.33 | 1.11 | 3.13 | 1.10 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $646,003K ÷ $537,012K
= 1.20
The current ratio of Ormat Technologies Inc has fluctuated over the past five years, ranging from 1.10 to 3.13. In 2023, the current ratio stands at 1.20, indicating that the company has $1.20 in current assets for every $1 in current liabilities.
Compared to the previous year, the current ratio decreased from 1.33 to 1.20, suggesting a slight weakening in the company's short-term liquidity position. However, it is important to note that the current ratio of 1.20 still indicates that Ormat Technologies Inc has sufficient current assets to cover its current liabilities.
When looking back further, the current ratio in 2023 is higher than that of 2021, indicating an improvement in liquidity from two years ago. The significant spike in the current ratio in 2020 to 3.13 may have been influenced by certain factors such as a decrease in current liabilities or an increase in current assets during that year.
Overall, while the current ratio of Ormat Technologies Inc has varied over the past five years, it currently remains at a level that suggests the company is able to meet its short-term obligations. Continued monitoring of the current ratio trends will provide insights into the company's liquidity and financial health.
Peer comparison
Dec 31, 2023