Waters Corporation (WAT)

Current ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	1,752,870	1,763,900	1,628,940	1,401,030	1,312,490
Total current liabilities	US$ in thousands	789,580	785,737	680,508	804,983	591,334
Current ratio		2.22	2.24	2.39	1.74	2.22

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,752,870K ÷ $789,580K
= 2.22

The current ratio of Waters Corp. has displayed some variability over the past five years. In 2023, the current ratio stands at 2.22, down slightly from 2.24 in 2022 and significantly lower than the ratio of 2.39 in 2021. This indicates that in 2023, Waters Corp. may have slightly less liquidity to cover its short-term obligations compared to the prior year.

Notably, the current ratio of 1.74 in 2020 was lower than the other years, suggesting potential liquidity constraints that year. However, 2019 saw a similar current ratio of 2.22 to 2023, indicating a return to better liquidity levels in the latest year.

Overall, while the current ratio of Waters Corp. in 2023 remains healthy at above 2, it is important for investors and analysts to closely monitor any fluctuations in this ratio as it could signal changes in the company's ability to cover its short-term liabilities with its current assets.