WEC Energy Group Inc (WEC)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,795,700 | 3,187,700 | 2,656,700 | 2,083,000 | 2,093,600 |
| Total current liabilities | US$ in thousands | 5,114,800 | 4,611,000 | 3,753,000 | 4,148,100 | 3,182,700 |
| Current ratio | 0.55 | 0.69 | 0.71 | 0.50 | 0.66 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,795,700K ÷ $5,114,800K
= 0.55
The current ratio of WEC Energy Group Inc has fluctuated over the past five years. It decreased from 0.66 in 2019 to 0.50 in 2020, signifying a decline in short-term liquidity. However, the ratio showed improvement in 2021, reaching 0.71, indicating a better ability to cover current liabilities with current assets. In 2022, the current ratio slightly decreased to 0.69 before dropping significantly to 0.55 in 2023. This decline may raise concerns about the company's short-term liquidity and ability to meet immediate financial obligations. The current ratio trend suggests that WEC Energy Group Inc may need to manage its current assets and liabilities more effectively to maintain a healthy liquidity position.
Peer comparison
Dec 31, 2023