PHINIA Inc. (PHIN)
Current ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | ||
|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,927,000 | 2,124,000 | 1,670,000 |
| Total current liabilities | US$ in thousands | 1,148,000 | 1,321,000 | 947,000 |
| Current ratio | 1.68 | 1.61 | 1.76 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,927,000K ÷ $1,148,000K
= 1.68
The current ratio of PHINIA Inc. indicates the company's ability to meet its short-term obligations with its current assets.
The current ratio has been fluctuating over the past three quarters, with values of 1.68, 1.61, and 1.76 as of December 31, 2023, September 30, 2023, and June 30, 2023, respectively.
A current ratio above 1 signifies that PHINIA Inc. has more current assets than current liabilities, implying that the company is able to cover its short-term obligations.
Despite the fluctuations, the current ratio has generally been above 1 in the recent periods, indicating a strong ability to handle short-term financial commitments. However, it would be advisable for the company to continuously monitor and manage its current assets and liabilities to ensure its liquidity position remains stable.
Peer comparison
Dec 31, 2023