Tootsie Roll Industries Inc (TR)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 340,651 | 309,028 | 268,301 | 320,872 | 353,330 |
| Total current liabilities | US$ in thousands | 94,888 | 90,134 | 79,968 | 70,021 | 79,544 |
| Current ratio | 3.59 | 3.43 | 3.36 | 4.58 | 4.44 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $340,651K ÷ $94,888K
= 3.59
The current ratio of Tootsie Roll Industries, Inc. has shown a fluctuating trend over the past five years. The ratio has consistently been above 3, indicating a healthy liquidity position for the company. In 2020 and 2019, the company had particularly high current ratios of 4.58 and 4.44 respectively, suggesting a strong ability to meet its short-term obligations with its current assets. However, in 2021 and 2022, the current ratio decreased slightly to 3.36 and 3.43, indicating a slight decline in liquidity compared to the previous years.
In 2023, the current ratio increased to 3.59, signaling an improvement in short-term liquidity compared to the two preceding years. Overall, Tootsie Roll Industries, Inc. has maintained a healthy current ratio above the industry benchmark of 2, reflecting a strong ability to cover its short-term liabilities with its current assets.
Peer comparison
Dec 31, 2023