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A ratio that compares a company's current total assets to its current total liabilities.
Current Ratio measures whether a firm is capitalized with enough assets to pay its debts over the next twelve months by comparing a firm’s current assets to its current liabilities.
Current Ratio is defined as:
Current Ratio = Current Assets / Current Liabilities
Current Ratio for Nuveen California Select Tax-Free Income Portfolio is calculated as follows:
Current Assets [ 2.249 M ]
(/) Current Liabilities [ 352.971 T ]
(=) Current Ratio [ 6.4x ]
The tables below summarizes the trend in Nuveen California Select Tax-Free Income Portfolio’s Current Ratio over the last five years:
| Fiscal Year | Current Assets | Current Liabilities | Current Ratio |
|---|---|---|---|
| 2020-03-31 | 1.805 M | 991.953 T | 1.8x |
| 2021-03-31 | 2.143 M | 943.569 T | 2.3x |
| 2022-02-28 | 2.82 M | 979.063 T | 2.9x |
| 2023-02-28 | 1.866 M | 367.403 T | 5.1x |
| 2024-02-29 | 931.562 T | 375.24 T | 2.5x |
The tables below summarizes the trend in Nuveen California Select Tax-Free Income Portfolio’s current ratio over the last four quarters:
| Quarter Ending | Current Assets | Current Liabilities | Current Ratio |
|---|---|---|---|
| 2023-11-30 | 931.562 T | 375.24 T | 2.5x |
| 2024-02-29 | 931.562 T | 375.24 T | 2.5x |
| 2024-05-31 | 2.249 M | 352.971 T | 6.4x |
| 2024-08-31 | 2.249 M | 352.971 T | 6.4x |
While ratios vary by industry and circumstances, healthy companies generally have ratios between 1.5 and 3.
A high current ratio is not necessarily a good thing. The company may be inefficiently using its current assets or short-term financing facilities.
While a low current ratio (values less than 1) may indicate that a firm is having difficulty meeting current obligations, it may also reflect the organizations ability to borrow against good prospects to meet current obligations. Strong businesses that can turn inventory faster than due dates on their accounts payable may also have a current ratio less than one.
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