Ufp Industries Inc (UFPI)
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 | ||
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Total current assets | US$ in thousands | 2,502,090 | 2,505,120 | 2,415,060 | 2,267,010 | 2,262,110 | 2,436,360 | 2,376,440 | 2,472,420 | 2,073,480 | 1,922,750 | 2,122,500 | 1,737,060 | 1,538,360 | 1,512,110 | 1,236,600 | 1,060,910 | 1,093,070 | 1,092,100 | 1,097,110 | 1,103,470 |
Total current liabilities | US$ in thousands | 567,976 | 601,835 | 556,004 | 530,359 | 611,835 | 802,861 | 823,993 | 903,202 | 776,042 | 665,670 | 731,317 | 611,031 | 463,749 | 493,604 | 435,212 | 329,255 | 354,042 | 385,448 | 379,606 | 320,569 |
Current ratio | 4.41 | 4.16 | 4.34 | 4.27 | 3.70 | 3.03 | 2.88 | 2.74 | 2.67 | 2.89 | 2.90 | 2.84 | 3.32 | 3.06 | 2.84 | 3.22 | 3.09 | 2.83 | 2.89 | 3.44 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,502,090K ÷ $567,976K
= 4.41
The current ratio of Ufp Industries Inc has shown an improving trend over the past several quarters, indicating the company's ability to meet its short-term obligations with its current assets. As of December 31, 2023, the current ratio stood at 4.41, which indicates a strong liquidity position with current assets exceeding current liabilities by a significant margin. This is an improvement from the previous quarters, where the current ratio ranged from 2.67 to 4.34.
The increasing trend in the current ratio suggests that Ufp Industries Inc has been effectively managing its working capital and maintaining a healthy balance between current assets and current liabilities. A current ratio above 2 is generally considered favorable as it indicates the company has more than enough current assets to cover its short-term liabilities.
Overall, the current ratio analysis for Ufp Industries Inc indicates a strong liquidity position, which is essential for the company's financial health and ability to navigate through short-term financial challenges.