Progress Software Corporation (PRGS)

Current ratio

		Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	May 31, 2019
Total current assets	US$ in thousands	297,256	330,788	302,840	281,082	292,701	426,053	364,434	355,869	342,622	337,808	508,897	470,968	239,309	238,935	320,206	291,398	274,738	284,665	236,294	204,306
Total current liabilities	US$ in thousands	312,208	352,118	324,703	323,494	337,157	318,004	279,683	284,229	283,730	322,929	271,608	266,077	265,740	262,543	227,691	225,172	230,722	240,885	215,332	204,199
Current ratio		0.95	0.94	0.93	0.87	0.87	1.34	1.30	1.25	1.21	1.05	1.87	1.77	0.90	0.91	1.41	1.29	1.19	1.18	1.10	1.00

February 29, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $297,256K ÷ $312,208K
= 0.95

The current ratio of Progress Software Corporation has shown fluctuations over the past few quarters, varying between 0.87 and 1.87. Most recently, as of February 29, 2024, the current ratio was 0.95, indicating a decrease compared to the previous quarter.

A current ratio below 1 suggests that the company may have difficulties meeting its short-term liabilities with its current assets alone. It is important to monitor this ratio over time to assess the company's liquidity position and ability to cover its obligations in the near future.

Overall, while the current ratio has shown volatility, it is essential for Progress Software Corporation to maintain a current ratio above 1 to ensure financial stability and meet its short-term obligations effectively.