Penske Automotive Group Inc (PAG)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 5,679,700 | 4,664,200 | 4,075,400 | 4,408,800 | 5,334,100 |
| Total current liabilities | US$ in thousands | 5,657,900 | 4,713,100 | 4,274,600 | 4,674,900 | 5,451,000 |
| Current ratio | 1.00 | 0.99 | 0.95 | 0.94 | 0.98 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $5,679,700K ÷ $5,657,900K
= 1.00
The current ratio of Penske Automotive Group Inc has fluctuated over the past five years as follows:
- Dec 31, 2023: 1.00
- Dec 31, 2022: 0.99
- Dec 31, 2021: 0.95
- Dec 31, 2020: 0.94
- Dec 31, 2019: 0.98
The current ratio measures the company's ability to cover its short-term obligations with its current assets. A ratio of 1.00 suggests that the company's current assets are equal to its current liabilities in 2023.
An upward trend in the current ratio is generally favorable as it indicates improved liquidity and a stronger ability to meet short-term obligations. Conversely, a downward trend may signal potential liquidity challenges.
Given the slight fluctuations in the current ratio over the past five years, Penske Automotive Group Inc has managed to maintain a relatively stable position in terms of its liquidity management. However, further analysis of the underlying components contributing to the current ratio, such as the composition of current assets and liabilities, would provide a more in-depth understanding of the company's financial health.
Peer comparison
Dec 31, 2023