Progress Software Corporation (PRGS)

Current ratio

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Total current assets	US$ in thousands	368,813	330,788	426,053	337,808	238,935
Total current liabilities	US$ in thousands	455,145	352,118	318,004	322,929	262,543
Current ratio		0.81	0.94	1.34	1.05	0.91

November 30, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $368,813K ÷ $455,145K
= 0.81

The current ratio of Progress Software Corporation has shown varying trends over the years as per the provided data.

As of November 30, 2020, the current ratio was 0.91, indicating that the company may have had difficulties meeting its short-term obligations with its current assets alone.

By November 30, 2021, the current ratio improved to 1.05, suggesting that Progress Software Corporation's ability to cover its short-term liabilities with its current assets had strengthened.

The ratio further increased to 1.34 by November 30, 2022, signaling a healthier financial position for the company and a greater ability to pay off its short-term debts.

However, there was a slight decline in the current ratio to 0.94 by November 30, 2023, which could imply potential challenges in meeting short-term obligations compared to the previous year.

By November 30, 2024, the current ratio dropped to 0.81, falling below 1 which may indicate potential liquidity issues and difficulty in meeting short-term financial commitments.

Overall, while the current ratio has fluctuated over the years, it is important for Progress Software Corporation to maintain a ratio above 1 to ensure it has sufficient current assets to cover its short-term liabilities comfortably.