Paylocity Holdng (PCTY)
Current ratio
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,524,490 | 3,048,440 | 4,231,680 | 2,032,880 | 1,663,150 |
| Total current liabilities | US$ in thousands | 3,117,360 | 2,774,800 | 4,120,530 | 1,867,020 | 1,408,940 |
| Current ratio | 1.13 | 1.10 | 1.03 | 1.09 | 1.18 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,524,490K ÷ $3,117,360K
= 1.13
The current ratio measures a company's ability to cover its short-term obligations using its current assets. A higher current ratio indicates a better ability to pay off short-term liabilities.
Paylocity Holding's current ratio has fluctuated over the past five years, ranging from 1.03 to 1.18. In the latest period ending June 30, 2024, the current ratio stood at 1.13, which indicates that the company had $1.13 in current assets for every $1 in current liabilities.
Comparing this to the previous years, the current ratio has improved compared to 2022 (1.03) and 2023 (1.10), suggesting a strengthened ability to meet short-term obligations. However, the current ratio is slightly lower than 2020 (1.18) and 2021 (1.09).
Overall, Paylocity Holding's current ratio has shown some variability over the past five years, but the latest ratio of 1.13 indicates that the company still has a reasonable ability to cover its short-term liabilities with its current assets. It is important for investors and stakeholders to monitor this ratio to assess the company's short-term liquidity position.
Peer comparison
Jun 30, 2024