Phibro Animal Health Corporation (PAHC)

Current ratio

		Jun 30, 2024	Mar 31, 2024	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
Total current assets	US$ in thousands	600,997	597,180	586,586	584,424	585,723	585,483	581,689	570,080	566,232	546,477	508,610	498,630	498,909	471,718	477,167	464,282	451,837	438,155	445,487	455,512
Total current liabilities	US$ in thousands	204,148	189,072	187,735	172,355	176,000	165,308	167,569	172,499	190,832	187,102	166,628	152,586	164,116	168,891	166,903	160,952	157,238	161,232	147,059	141,973
Current ratio		2.94	3.16	3.12	3.39	3.33	3.54	3.47	3.30	2.97	2.92	3.05	3.27	3.04	2.79	2.86	2.88	2.87	2.72	3.03	3.21

June 30, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $600,997K ÷ $204,148K
= 2.94

The current ratio of Phibro Animal Health Corporation has exhibited fluctuations over the given period, ranging from a low of 2.72 to a high of 3.54. Generally, a current ratio above 1 indicates that the company has more current assets than current liabilities, which is considered a positive indication of short-term liquidity.

The current ratio has shown a generally stable trend with occasional fluctuations. It peaked at 3.54 in the first quarter of 2023, indicating strong short-term liquidity at that time. However, it experienced a slight decline in subsequent quarters but remained above 3, reflecting a continued ability to cover short-term liabilities with current assets.

The current ratio dropped to 2.72 in the third quarter of 2019, which may raise concerns about the company's short-term liquidity position at that time. However, it rebounded and has generally stayed above 2.9 since then, indicating a healthy liquidity position.

Overall, Phibro Animal Health Corporation has maintained a solid current ratio above 2, suggesting that it has sufficient short-term assets to cover its short-term obligations. Further analysis would be needed to understand the specific reasons for the fluctuations and to assess the company's overall financial health.