Progress Software Corporation (PRGS)
Current ratio
| Nov 30, 2023 | Nov 30, 2022 | Nov 30, 2021 | Nov 30, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 330,788 | 426,053 | 337,808 | 238,935 | 284,665 |
| Total current liabilities | US$ in thousands | 352,118 | 318,004 | 322,929 | 262,543 | 240,885 |
| Current ratio | 0.94 | 1.34 | 1.05 | 0.91 | 1.18 |
November 30, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $330,788K ÷ $352,118K
= 0.94
The current ratio of Progress Software Corp. has varied over the past five years, indicating changes in its short-term liquidity. The ratio was 0.94 as of November 30, 2023, representing a decrease from the previous year. This suggests that the company may have experienced challenges in meeting its short-term obligations with its current assets. However, in November 2022, the ratio was 1.34, indicating a stronger liquidity position compared to 2023. In 2021, the ratio was 1.05, showing a moderate improvement from 2020 when it was 0.91. Furthermore, in November 2019, the current ratio was 1.18, suggesting a relatively stable liquidity position at that time. Overall, the fluctuating current ratio of Progress Software Corp. indicates varying levels of short-term liquidity over the past five years, which may be a point of consideration for investors and creditors.
Peer comparison
Nov 30, 2023