Unifirst Corporation (UNF)
Current ratio
| Aug 31, 2024 | May 25, 2024 | Feb 24, 2024 | Nov 25, 2023 | Aug 26, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 915,676 | 884,389 | 864,478 | 858,938 | 840,118 | 1,067,280 | 1,067,610 | 1,063,890 | 1,068,880 | 1,078,870 | 1,111,650 | 1,103,790 | 1,070,150 | 1,023,460 | 986,824 | 969,334 | 925,512 | 923,822 | 902,457 | 913,791 |
| Total current liabilities | US$ in thousands | 281,437 | 269,819 | 262,864 | 258,785 | 267,229 | 232,136 | 242,771 | 243,745 | 246,721 | 250,051 | 246,013 | 254,670 | 238,284 | 226,131 | 211,692 | 210,096 | 196,234 | 201,395 | 197,632 | 189,844 |
| Current ratio | 3.25 | 3.28 | 3.29 | 3.32 | 3.14 | 4.60 | 4.40 | 4.36 | 4.33 | 4.31 | 4.52 | 4.33 | 4.49 | 4.53 | 4.66 | 4.61 | 4.72 | 4.59 | 4.57 | 4.81 |
August 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $915,676K ÷ $281,437K
= 3.25
The current ratio of Unifirst Corporation has shown a generally stable and healthy trend over the past few years, ranging from 3.14 to 4.81. The current ratio measures the company's ability to cover its short-term obligations with its current assets.
With current ratios consistently above 3.00, indicating that the company has more than enough current assets to cover its current liabilities, Unifirst Corporation appears to have a strong liquidity position. A current ratio above 2.00 is generally considered healthy, and the company's ratios exceed this threshold comfortably.
The ratios have fluctuated slightly over the period, with a peak of 4.81 in February 2020 and a low of 3.14 in August 2023. The company's ability to maintain current ratios above 3.00 demonstrates its ability to meet its short-term financial obligations and suggests a prudent approach to managing liquidity.
Overall, based on the current ratio trend, Unifirst Corporation appears to have a solid financial position with sufficient current assets to support its current liabilities, providing a buffer against any potential short-term financial challenges.
Peer comparison
Aug 31, 2024