Tootsie Roll Industries Inc (TR)
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 | 340,651 | 336,060 | 314,591 | 304,496 | 309,028 | 324,066 | 280,757 | 275,661 | 268,301 | 277,904 | 277,466 | 292,332 | 320,872 | 314,792 | 322,709 | 334,290 | 353,330 | 332,306 | 281,089 | 279,976 |
| Total current liabilities | US$ in thousands | 94,888 | 105,634 | 90,995 | 77,328 | 90,134 | 101,519 | 82,474 | 80,259 | 79,968 | 94,637 | 75,599 | 65,941 | 70,021 | 78,074 | 84,192 | 77,186 | 79,544 | 77,409 | 60,287 | 53,049 |
| Current ratio | 3.59 | 3.18 | 3.46 | 3.94 | 3.43 | 3.19 | 3.40 | 3.43 | 3.36 | 2.94 | 3.67 | 4.43 | 4.58 | 4.03 | 3.83 | 4.33 | 4.44 | 4.29 | 4.66 | 5.28 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $340,651K ÷ $94,888K
= 3.59
Tootsie Roll Industries, Inc.'s current ratio has shown fluctuation over the past eight quarters. The current ratio measures the company's ability to cover its short-term liabilities with its short-term assets. A current ratio above 1 indicates that the company has more current assets than current liabilities.
In Q4 2023, the current ratio was 3.59, indicating that the company had $3.59 in current assets for every $1 in current liabilities. This was an improvement compared to the previous quarter (Q3 2023) when the current ratio was 3.18.
The current ratio has been above 3 for most quarters, reflecting Tootsie Roll's strong liquidity position and ability to meet its short-term obligations comfortably. However, there have been fluctuations in the current ratio over the quarters, with Q1 2023 showing the highest current ratio of 3.94, while Q3 2022 had the lowest ratio of 3.19.
Overall, Tootsie Roll Industries, Inc. has maintained a healthy current ratio above 3 for most quarters, indicating a strong ability to cover its short-term liabilities with its current assets.
Peer comparison
Dec 31, 2023