Ryder System Inc (R)
Current ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,265,000 | 2,112,000 | 2,117,000 | 2,260,000 | 2,200,000 | 2,338,690 | 2,417,320 | 2,112,170 | 2,461,000 | 1,839,230 | 1,788,860 | 1,531,650 | 1,595,530 | 2,032,850 | 2,132,710 | 1,856,570 | 1,562,050 | 1,572,140 | 1,571,450 | 1,557,780 |
| Total current liabilities | US$ in thousands | 3,649,000 | 3,987,000 | 3,411,000 | 3,755,000 | 3,316,000 | 3,201,690 | 3,587,820 | 3,555,080 | 3,201,000 | 3,154,630 | 3,056,050 | 2,285,250 | 2,053,150 | 2,518,640 | 2,755,600 | 2,196,400 | 2,625,350 | 2,532,850 | 2,641,150 | 2,754,580 |
| Current ratio | 0.62 | 0.53 | 0.62 | 0.60 | 0.66 | 0.73 | 0.67 | 0.59 | 0.77 | 0.58 | 0.59 | 0.67 | 0.78 | 0.81 | 0.77 | 0.85 | 0.59 | 0.62 | 0.59 | 0.57 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,265,000K ÷ $3,649,000K
= 0.62
The current ratio of Ryder System, Inc. has shown fluctuating trends over the past eight quarters. In Q4 2022, the company had a current ratio of 0.66, which decreased to 0.73 in Q3 2022, indicating a short-term liquidity improvement. However, the ratio declined in the subsequent quarters, reaching a low of 0.53 in Q3 2023.
The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A ratio below 1 suggests that the company may have difficulties meeting its short-term obligations. Ryder System, Inc. has been below the ideal current ratio of 1 in most quarters, indicating potential liquidity concerns.
Management should closely monitor the company's current assets and liabilities to ensure they can meet their short-term obligations. Further analysis of the components of current assets and liabilities is recommended to identify areas for improvement in managing liquidity.
Peer comparison
Dec 31, 2023