Xpel Inc (XPEL)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 146,454 | 106,821 | 79,028 | 62,777 | 36,281 |
| Total current liabilities | US$ in thousands | 36,472 | 27,402 | 36,268 | 21,200 | 11,786 |
| Current ratio | 4.02 | 3.90 | 2.18 | 2.96 | 3.08 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $146,454K ÷ $36,472K
= 4.02
The current ratio of XPEL Inc has shown some fluctuations over the past five years. The ratio indicates the company's ability to meet its short-term obligations with its current assets.
In 2023, XPEL Inc's current ratio stands at 4.02, reflecting an improvement from the previous year. This high current ratio suggests that the company has a strong ability to cover its short-term liabilities with its current assets.
Comparing to the ratio in 2021, which was lower at 2.18, the significant increase in 2023 indicates better liquidity and financial health for the company. However, it's worth noting that the current ratio in 2022 was slightly higher at 3.90, showcasing some variability in their short-term liquidity position.
Overall, the trend in XPEL Inc's current ratio demonstrates a generally strong ability to pay off its current liabilities with its current assets, with the ratio consistently above 2.5 in the last five years. This indicates a solid financial position and ability to manage short-term obligations effectively.