Snap-On Inc (SNA)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,652,000 | 3,368,900 | 3,053,400 | 3,083,000 | 2,380,500 |
| Total current liabilities | US$ in thousands | 941,600 | 971,600 | 982,200 | 1,164,900 | 947,600 |
| Current ratio | 3.88 | 3.47 | 3.11 | 2.65 | 2.51 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,652,000K ÷ $941,600K
= 3.88
Snap-On Inc's current ratio has shown a positive trend over the past five years, indicating an improvement in its liquidity position. The current ratio has increased from 2.51 in 2019 to 3.88 in 2023. This implies that Snap-On Inc's current assets are 3.88 times its current liabilities, reflecting the company's ability to meet its short-term obligations with its current assets. The upward trend in the current ratio suggests that Snap-On Inc has become more efficient in managing its working capital and is better positioned to cover its short-term financial commitments. Overall, the improving current ratio signals a strengthening liquidity position for Snap-On Inc.
Peer comparison
Dec 31, 2023