UFP Technologies Inc (UFPT)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 144,633 | 116,346 | 87,320 | 71,864 | 53,250 |
| Total current liabilities | US$ in thousands | 58,209 | 55,961 | 38,783 | 15,137 | 16,784 |
| Current ratio | 2.48 | 2.08 | 2.25 | 4.75 | 3.17 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $144,633K ÷ $58,209K
= 2.48
The current ratio of UFP Technologies Inc has fluctuated over the past five years. The ratio stood at 2.48 as of December 31, 2023, indicating that the company had $2.48 in current assets for every $1 in current liabilities. This represents an improvement compared to the previous year, where the ratio was 2.08. In 2021, the ratio was 2.25, showing a slight decrease from 2020 when it was notably high at 4.75. Further back, in 2019, the current ratio was 3.17.
Overall, the company's current ratio has shown some variability in recent years, with a peak in 2020 and a subsequent decline in 2022, followed by an improvement in 2023. A current ratio above 1 indicates that UFP Technologies Inc has more current assets than current liabilities, which generally reflects a strong liquidity position. However, it is essential to consider the specific industry norms and historical trends to gain a more comprehensive understanding of the company's liquidity management.
Peer comparison
Dec 31, 2023