Sonoco Products Company (SON)
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 | 2,050,360 | 2,239,890 | 2,359,880 | 2,362,330 | 2,361,250 | 2,411,320 | 2,376,480 | 2,250,640 | 1,658,680 | 1,600,660 | 1,646,840 | 1,950,740 | 1,830,550 | 2,283,430 | 2,238,660 | 1,513,830 | 1,521,200 | 1,564,020 | 1,579,020 | 1,568,490 |
| Total current liabilities | US$ in thousands | 1,165,280 | 1,185,200 | 1,519,580 | 1,609,490 | 1,743,900 | 1,755,470 | 1,745,140 | 1,715,000 | 1,525,760 | 1,349,240 | 1,404,910 | 1,530,670 | 1,511,630 | 1,499,040 | 1,576,270 | 1,363,800 | 1,404,490 | 1,307,460 | 1,274,890 | 1,156,230 |
| Current ratio | 1.76 | 1.89 | 1.55 | 1.47 | 1.35 | 1.37 | 1.36 | 1.31 | 1.09 | 1.19 | 1.17 | 1.27 | 1.21 | 1.52 | 1.42 | 1.11 | 1.08 | 1.20 | 1.24 | 1.36 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,050,360K ÷ $1,165,280K
= 1.76
The current ratio of Sonoco Products Co. has shown fluctuations over the past eight quarters. The highest current ratio was observed in Q3 2023 at 1.89, indicating a stronger ability to cover short-term obligations with current assets. This was followed by a slight decrease in Q4 2023 to 1.76, still representing a healthy liquidity position.
In the earlier quarters of 2022, the current ratio ranged between 1.31 and 1.36, showing relatively lower liquidity compared to more recent periods. However, there has been a gradual improvement in liquidity since then, as seen in the upward trend from Q1 2023 to Q3 2023.
Overall, the current ratio of Sonoco Products Co. has generally been above 1, implying that the company has more than enough current assets to cover its short-term liabilities. The recent ratios suggest a positive trend towards stronger liquidity, which can provide the company with a buffer against any unexpected financial pressures or downturns in the future.
Peer comparison
Dec 31, 2023