Xpel Inc (XPEL)
Current ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 168,344 | 146,454 | 106,821 | 79,028 | 62,777 |
| Total current liabilities | US$ in thousands | 41,518 | 36,472 | 27,402 | 36,268 | 21,200 |
| Current ratio | 4.05 | 4.02 | 3.90 | 2.18 | 2.96 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $168,344K ÷ $41,518K
= 4.05
The current ratio of Xpel Inc has exhibited some variability over the past five years. It stood at 2.96 on December 31, 2020, indicating that the company had $2.96 in current assets for every $1 in current liabilities. By December 31, 2021, the ratio decreased to 2.18, suggesting a slight decrease in the company's ability to cover its short-term obligations. However, there was a notable improvement in the ratio by December 31, 2022, reaching 3.90, indicating that Xpel Inc had significantly more current assets relative to its current liabilities.
The trend continued to strengthen in the following years, with the current ratio reaching 4.02 by December 31, 2023, followed by a slight increase to 4.05 by December 31, 2024. These higher ratios suggest that the company had improved its liquidity position, as it had more than enough current assets to meet its short-term liabilities in these years.
Overall, the current ratio of Xpel Inc has displayed positive fluctuations, with the most recent ratios indicating a strong financial position in terms of its ability to meet its short-term obligations.