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The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Credit Acceptance's current ratio for the quarter that ended in Sep. 2024 was 23.40.
Credit Acceptance has a current ratio of 23.40. It indicates the company may not be efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capital management.
The historical rank and industry rank for Credit Acceptance's Current Ratio or its related term are showing as below:
During the past 13 years, Credit Acceptance's highest Current Ratio was 41.68. The lowest was 18.60. And the median was 28.11.
The historical data trend for Credit Acceptance's Current Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Credit Acceptance Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Current Ratio | Get a 7-Day Free Trial | 35.21 | 39.23 | 39.28 | 25.55 | 18.60 |
Credit Acceptance Quarterly Data | ||||||||||||||||||||
Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | |
Current Ratio | Get a 7-Day Free Trial | 24.66 | 18.60 | 19.24 | 23.56 | 23.40 |
For the Credit Services subindustry, Credit Acceptance's Current Ratio, along with its competitors' market caps and Current Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Credit Services industry and Financial Services sector, Credit Acceptance's Current Ratio distribution charts can be found below:
* The bar in red indicates where Credit Acceptance's Current Ratio falls into.
The current ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities with its short-term assets.
Credit Acceptance's Current Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Current Ratio (A: Dec. 2023 ) | = | Total Current Assets (A: Dec. 2023 ) | / | Total Current Liabilities (A: Dec. 2023 ) |
= | 7437.3 | / | 399.8 | |
= | 18.60 |
Credit Acceptance's Current Ratio for the quarter that ended in Sep. 2024 is calculated as
Current Ratio (Q: Sep. 2024 ) | = | Total Current Assets (Q: Sep. 2024 ) | / | Total Current Liabilities (Q: Sep. 2024 ) |
= | 8532.9 | / | 364.6 | |
= | 23.40 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Credit Acceptance (NAS:CACC) Current Ratio Explanation
The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.
Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.
The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.
If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.
Thank you for viewing the detailed overview of Credit Acceptance's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Prescott General Partners Llc | 10 percent owner, other: Member of Section 13(d) Group | 2200 BUTTS ROAD, SUITE 320, BOCA RATON FL 33431 |
Thomas W Smith | 10 percent owner, other: Member of Section 13(d) Group | 2200 BUTTS ROAD, SUITE 320, BOCA RATON FL 33431 |
Daniel A. Ulatowski | officer: Chief Sales Officer | 25505 W 12 MILE ROAD, SOUTHFIELD MI 48034 |
Douglas W Busk | officer: Sr. Vice President & Treasurer | 25505 WEST TWELVE MILE ROAD, SOUTH FIELD MI 48034 |
Jonathan Lum | officer: Chief Operating Officer | 25505 W 12 MILE ROAD, SOUTHFIELD MI 48034 |
Erin J Kerber | officer: Chief Legal Officer | 25505 WEST TWELVE MILE RD, SOUTHFIELD MI 48034 |
Wendy A Rummler | officer: Senior VP, Human Resources | 25505 WEST TWELVE MILE ROAD, SOUTHFIELD MI 48034 |
Nicholas J Elliott | officer: Chief Alignment Officer | 25505 WEST TWELVE MILE RD, SOUTHFIELD MI 48034 |
Arthur L Smith | officer: Chief Analytics Officer | 25505 W 12 MILE ROAD, SOUTHFIELD MI 48034 |
Sean Edward Quinn | director | C/O CIMPRESS PLC, 275 WYMAN STREET, WALTHAM MA 02451 |
Scott J Vassalluzzo | director, 10 percent owner, other: Member of Section 13(d) Group | 2200 BUTTS ROAD, SUITE 320, BOCA RATON FL 33431 |
Donald A. Foss Irrevocable Trust Dated August 14, 2022 | 10 percent owner | 39395 W. TWELVE MILE ROAD, SUITE 200, FARMINGTON HILLS MI 48331 |
Andrew K Rostami | officer: Chief Mktg and Product Officer | 25505 WEST TWELVE MILE ROAD, SOUTHFIELD MI 48034 |
Ravi Mohan Valiyaveettil | officer: Chief Technology Officer | 25505 WEST TWELVE MILE RD, SOUTHFIELD MI 48034 |
Thomas N Tryforos | director | 323 RAILROAD AVE, GREENWICH CT 06830 |
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