Interface Inc (TILE)
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 | Jul 5, 2020 | Apr 5, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 583,858 | 585,840 | 581,498 | 611,773 | 617,037 | 603,092 | 626,690 | 583,779 | 572,340 | 535,711 | 546,659 | 517,427 | 495,394 | 515,046 | 533,386 | 533,911 | 548,135 | 564,789 | 582,854 | 564,485 |
| Total current liabilities | US$ in thousands | 214,721 | 210,189 | 194,317 | 221,484 | 220,470 | 237,900 | 249,359 | 245,867 | 261,812 | 234,836 | 229,598 | 217,084 | 193,300 | 244,807 | 232,584 | 230,291 | 263,275 | 254,972 | 234,255 | 232,522 |
| Current ratio | 2.72 | 2.79 | 2.99 | 2.76 | 2.80 | 2.54 | 2.51 | 2.37 | 2.19 | 2.28 | 2.38 | 2.38 | 2.56 | 2.10 | 2.29 | 2.32 | 2.08 | 2.22 | 2.49 | 2.43 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $583,858K ÷ $214,721K
= 2.72
Interface Inc.'s current ratio has shown a generally positive trend over the past eight quarters, ranging from 2.37 to 2.99. The current ratio measures the company's ability to meet its short-term obligations with its current assets. A higher current ratio indicates better liquidity and financial health.
In Q2 2023, the company's current ratio peaked at 2.99, reflecting a stronger ability to cover its short-term liabilities with current assets compared to previous quarters. This may suggest improved efficiency in managing current assets or a reduction in short-term liabilities.
Although there was a slight decrease in the current ratio in Q3 and Q4 2023 compared to Q2 2023, the ratios of 2.79 and 2.72 still indicate a healthy liquidity position for Interface Inc. The company appears to have sufficient current assets to cover its short-term obligations, providing a buffer against potential financial challenges.
Overall, Interface Inc.'s current ratio analysis reveals a consistently sound liquidity position over the past eight quarters, indicating the company's ability to meet its short-term financial commitments effectively.
Peer comparison
Dec 31, 2023