RBC Bearings Incorporated (RBC)
Current ratio
| Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 965,500 | 957,300 | 938,200 | 935,500 | 913,300 | 901,771 | 911,531 | 916,080 | 962,200 | 987,237 | 1,859,880 | 786,124 | 728,202 | 692,342 | 661,014 | 638,849 | 612,006 | 554,736 | 533,950 | 514,441 |
| Total current liabilities | US$ in thousands | 294,300 | 291,600 | 288,300 | 316,000 | 309,300 | 282,672 | 306,249 | 330,405 | 313,500 | 343,036 | 112,291 | 95,502 | 88,238 | 88,412 | 88,510 | 100,290 | 103,755 | 99,002 | 103,904 | 99,851 |
| Current ratio | 3.28 | 3.28 | 3.25 | 2.96 | 2.95 | 3.19 | 2.98 | 2.77 | 3.07 | 2.88 | 16.56 | 8.23 | 8.25 | 7.83 | 7.47 | 6.37 | 5.90 | 5.60 | 5.14 | 5.15 |
March 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $965,500K ÷ $294,300K
= 3.28
The current ratio of RBC Bearings Incorporated has shown some fluctuations over the past few quarters. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A ratio greater than 1 indicates that the firm has more current assets than current liabilities.
From December 2019 to September 2020, the current ratio was relatively stable, ranging from 5.14 to 7.83, indicating a strong ability to cover short-term obligations. However, there was a significant spike in the current ratio in the following quarters, reaching unusually high levels of 8.23 in December 2020 and an astonishing 16.56 in September 2021.
Subsequently, the current ratio experienced a downward trend, dropping to 2.88 in December 2021 before gradually recovering to 3.28 by March 2024. This recent increase suggests improved liquidity and a healthier short-term financial position for RBC Bearings Incorporated.
Overall, the company has generally maintained a strong current ratio above 2, indicating a solid financial footing and the ability to meet its short-term obligations comfortably. Investors and stakeholders should continue to monitor future trends in the company's current ratio to assess its short-term liquidity and financial health.
Peer comparison
Mar 31, 2024