Interface Inc (TILE)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 583,858 | 617,037 | 572,340 | 495,394 | 548,135 |
| Total current liabilities | US$ in thousands | 214,721 | 220,470 | 261,812 | 193,300 | 263,275 |
| Current ratio | 2.72 | 2.80 | 2.19 | 2.56 | 2.08 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $583,858K ÷ $214,721K
= 2.72
Interface Inc.'s current ratio has exhibited fluctuations over the past five years. The current ratio measures the company's ability to meet its short-term obligations with its current assets. A higher current ratio indicates a stronger liquidity position.
In 2023, Interface Inc.'s current ratio decreased to 2.72 from 2.80 in the previous year. Although the current ratio decreased, it remains relatively high, indicating the company's continued ability to cover its short-term liabilities with its current assets.
Compared to the ratio in 2022 and 2021, the current ratio has improved significantly over the years, suggesting a stronger liquidity position for Interface Inc. However, there has been notable volatility in the current ratio, as seen in the fluctuations between 2.08 in 2019 and 2.80 in 2022.
Overall, Interface Inc.'s current ratio indicates a generally healthy liquidity position, although there have been fluctuations over the years that may warrant further investigation to understand the underlying factors driving these changes.
Peer comparison
Dec 31, 2023