Worthington Industries Inc (WOR)
Current ratio
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 673,893 | 1,868,340 | 1,785,650 | 1,967,990 | 983,179 |
| Total current liabilities | US$ in thousands | 178,376 | 717,558 | 932,261 | 787,901 | 388,238 |
| Current ratio | 3.78 | 2.60 | 1.92 | 2.50 | 2.53 |
May 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $673,893K ÷ $178,376K
= 3.78
The current ratio of Worthington Industries Inc has showcased some fluctuations over the past five years. As of May 31, 2020, the current ratio stood at 2.53, indicating that the company had $2.53 in current assets to cover every $1 in current liabilities. Subsequently, the ratio slightly decreased to 2.50 by May 31, 2021, before experiencing a more significant drop to 1.92 by May 31, 2022.
However, there was a notable recovery in the company's liquidity position as of May 31, 2023, with the current ratio improving to 2.60, surpassing previous levels. Most recently, by May 31, 2024, the current ratio further increased to 3.78, reflecting a substantial improvement in the company's ability to meet its short-term obligations with its current assets.
Overall, the current ratio trend indicates that Worthington Industries Inc has exhibited a mix of fluctuations and improvements in its liquidity position over the past five years, with notable increases in recent years pointing towards enhanced short-term financial stability.
Peer comparison
May 31, 2024