Trimble Inc (TRMB)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,830,900 | 1,518,200 | 1,450,600 | 1,281,400 | 1,211,800 |
| Total current liabilities | US$ in thousands | 1,829,300 | 1,462,100 | 1,188,600 | 1,311,300 | 1,190,300 |
| Current ratio | 1.00 | 1.04 | 1.22 | 0.98 | 1.02 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,830,900K ÷ $1,829,300K
= 1.00
The current ratio for Trimble Inc has fluctuated over the past five years, indicating changes in its short-term liquidity position. A current ratio of 1.00 as of Dec 31, 2023, suggests that the company's current assets are equal to its current liabilities. This ratio has slightly decreased from the previous year's 1.04, potentially indicating a tighter liquidity position.
Comparing the current ratio to the trend over the past five years, we observe variations. In 2021, the current ratio was 1.22, signifying a healthier liquidity position compared to 2023. However, in 2020 and 2019, the ratios were 0.98 and 1.02 respectively, indicating potential liquidity concerns in those years.
It is essential for investors and stakeholders to further analyze the components of current assets and current liabilities to understand the underlying reasons for the changes in the current ratio. A current ratio below 1.0 may raise concerns about the company's ability to meet its short-term obligations, while a ratio above 2.0 may indicate an inefficient use of assets. Additional financial analysis and consideration of industry benchmarks would provide a more comprehensive insight into Trimble Inc's current financial health.
Peer comparison
Dec 31, 2023