Patrick Industries Inc (PATK)

Current ratio

		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	Jun 30, 2019	Mar 31, 2019
Total current assets	US$ in thousands	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	516,834	528,004	411,684	428,523
Total current liabilities	US$ in thousands	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	186,935	202,275	205,098	217,806
Current ratio		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	2.76	2.61	2.01	1.97

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $734,631K ÷ $308,496K
= 2.38

The current ratio of Patrick Industries, Inc. has shown some fluctuations over the past few quarters. The trend indicates that the company's ability to meet its short-term obligations with its current assets has varied slightly.

Looking at the data, we can see that the current ratio has generally been above 2, which suggests that Patrick Industries has had more than enough current assets to cover its short-term liabilities. This indicates a healthy liquidity position for the company.

In the most recent quarter, the current ratio stands at 2.38, which is slightly lower than the previous quarter but still above the industry benchmark of 2. This implies that the company may have experienced a slight reduction in liquidity compared to the previous quarter, but overall, its liquidity position remains strong.

It is important to continue monitoring changes in the current ratio to ensure that Patrick Industries maintains an appropriate level of liquidity to meet its short-term obligations and operational needs.