Patrick Industries Inc (PATK)

Current ratio

Dec 31, 2024 Sep 30, 2024 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
Total current assets US$ in thousands 822,617 912,959 853,894 859,374 734,631 811,253 833,863 954,478 909,904 1,107,420 1,223,370 1,174,400 974,075 862,785 763,624 591,835 528,063 531,834 537,453 548,914
Total current liabilities US$ in thousands 353,615 379,189 373,667 360,542 308,496 335,814 307,130 332,680 367,240 435,904 473,411 496,315 432,777 409,473 328,792 299,849 227,389 252,949 218,537 236,203
Current ratio 2.33 2.41 2.29 2.38 2.38 2.42 2.72 2.87 2.48 2.54 2.58 2.37 2.25 2.11 2.32 1.97 2.32 2.10 2.46 2.32

December 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $822,617K ÷ $353,615K
= 2.33

Based on the provided data, Patrick Industries Inc's current ratio has exhibited some fluctuations over the reported quarters, ranging from a low of 1.97 on March 31, 2021, to a high of 2.87 on March 31, 2023. The current ratio measures the company's ability to cover its short-term obligations with its current assets. A ratio above 1 indicates the company has more current assets than current liabilities.

The current ratio for Patrick Industries Inc has generally been healthy and consistently above 1 throughout the reported periods, indicating the company's ability to meet its short-term financial obligations. The ratio hovered around the 2.3 to 2.6 range for most of the quarters, with some slight variations. This suggests that the company has a strong liquidity position and is capable of paying off its current liabilities using its current assets.

Overall, the trend in the current ratio for Patrick Industries Inc shows a relatively stable and adequately managed liquidity position, providing a favorable outlook for the company's short-term financial health.