Current Ratio
since 2005
Calculation
Kellanova, current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 30, 2023 | 0.66 | = | 3,330) | ÷ | 5,060) |
| Dec 31, 2022 | 0.66 | = | 4,186) | ÷ | 6,349) |
| Dec 31, 2021 | 0.64 | = | 3,394) | ÷ | 5,315) |
| Jan 2, 2021 | 0.66 | = | 3,482) | ÷ | 5,238) |
| Dec 28, 2019 | 0.72 | = | 3,431) | ÷ | 4,778) |
| Dec 29, 2018 | 0.70 | = | 3,157) | ÷ | 4,529) |
| Dec 30, 2017 | 0.68 | = | 3,036) | ÷ | 4,479) |
| Dec 31, 2016 | 0.66 | = | 2,940) | ÷ | 4,474) |
| Dec 31, 2015 | 0.56 | = | 3,236) | ÷ | 5,739) |
| Dec 31, 2014 | 0.77 | = | 3,340) | ÷ | 4,364) |
| Dec 28, 2013 | 0.85 | = | 3,267) | ÷ | 3,835) |
| Dec 29, 2012 | 0.75 | = | 3,380) | ÷ | 4,523) |
| Dec 31, 2011 | 0.91 | = | 3,027) | ÷ | 3,313) |
| Dec 31, 2010 | 0.92 | = | 2,915) | ÷ | 3,184) |
| Dec 31, 2009 | 1.12 | = | 2,558) | ÷ | 2,288) |
| Dec 31, 2008 | 0.71 | = | 2,521) | ÷ | 3,552) |
| Dec 29, 2007 | 0.67 | = | 2,717) | ÷ | 4,044) |
| Dec 30, 2006 | 0.60 | = | 2,427) | ÷ | 4,020) |
| Dec 31, 2005 | 0.69 | = | 2,197) | ÷ | 3,163) |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The analysis of the current assets and current liabilities over the examined periods reveals notable fluctuations impacting the liquidity position as reflected by the current ratio.
- Current Assets
- Current assets generally increased from US$ 2,197 million in 2005 to reach a peak of US$ 4,186 million in 2022. This growth was somewhat uneven, with occasional periods of decline such as between 2011 and 2012 (from US$ 3,027 million to US$ 3,380 million, followed by a drop to US$ 3,267 million in 2013) and a significant downward adjustment from 2022 to 2023, falling to US$ 3,330 million. The overall trend suggests an expansion of liquid resources over time, indicating capacity for meeting short-term obligations improved, although with some volatility.
- Current Liabilities
- Current liabilities presented considerable volatility, moving from US$ 3,163 million in 2005 with an initial substantial increase to US$ 4,020 million in 2006 and fluctuations thereafter. A significant decrease occurred in 2009 to US$ 2,288 million, followed by steady growth reaching a peak of US$ 6,349 million in 2022 before contracting to US$ 5,060 million in 2023. Such variability in liabilities has created shifts in the company's short-term obligations, potentially driven by operational or financing activities.
- Current Ratio
- The current ratio varied across the timeframe, mostly remaining below 1.0, indicating periods when current liabilities exceeded current assets. The ratio started at 0.69 in 2005, fell to a low of 0.56 in 2015, and peaked at 1.12 in 2009, the only period where current assets sufficiently covered current liabilities completely. For the majority of the years, the ratio stayed in the 0.6 to 0.7 range, showing a consistent working capital constraint, thus reflecting a cautious or tightly managed liquidity position.
In summary, despite overall growth in current assets, the substantial fluctuations and generally higher current liabilities have constrained the current ratio to below 1 for most years. This pattern highlights persistent liquidity pressures, suggesting a need to balance asset growth and liability management more effectively to improve short-term financial stability.
Comparison to Competitors
Kellanova, current ratio, long-term trends, comparison to competitors
| Kellanova | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Dec 30, 2023 | 0.66 | 1.13 | 0.62 | 0.85 | 0.75 |
| Dec 31, 2022 | 0.66 | 1.15 | 0.60 | 0.80 | 0.72 |
| Dec 31, 2021 | 0.64 | 1.13 | 0.74 | 0.83 | 0.92 |
| Jan 2, 2021 | 0.66 | 1.32 | 0.66 | 0.98 | 1.10 |
| Dec 28, 2019 | 0.72 | 0.76 | 0.50 | 0.86 | 1.09 |
| Dec 29, 2018 | 0.70 | 1.05 | 0.45 | 0.99 | 1.13 |
| Dec 30, 2017 | 0.68 | 1.34 | 0.48 | 1.51 | 1.35 |
| Dec 31, 2016 | 0.66 | 1.28 | 0.59 | 1.28 | 1.07 |
| Dec 31, 2015 | 0.56 | 1.24 | 0.82 | 1.31 | 1.03 |
| Dec 31, 2014 | 0.77 | 1.02 | 0.84 | 1.14 | 1.02 |
| Dec 28, 2013 | 0.85 | 1.13 | 0.92 | 1.24 | 0.99 |
| Dec 29, 2012 | 0.75 | 1.09 | 1.05 | 1.10 | 0.97 |
| Dec 31, 2011 | 0.91 | 1.05 | 0.88 | 0.96 | 1.00 |
| Dec 31, 2010 | 0.92 | 1.17 | 1.04 | 1.11 | 1.07 |
| Dec 31, 2009 | 1.12 | 1.28 | 1.08 | 1.44 | 1.31 |
| Dec 31, 2008 | 0.71 | 0.94 | 1.03 | 1.23 | 1.47 |
| Dec 29, 2007 | 0.67 | 0.92 | 0.63 | 1.31 | — |
| Dec 30, 2006 | 0.60 | 0.95 | 0.79 | 1.33 | — |
| Dec 31, 2005 | 0.69 | 1.04 | 0.93 | 1.11 | — |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Kellanova, current ratio, long-term trends, comparison to sector (food, beverage & tobacco)
| Kellanova | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 30, 2023 | 0.66 | 0.85 |
| Dec 31, 2022 | 0.66 | 0.82 |
| Dec 31, 2021 | 0.64 | 0.91 |
| Jan 2, 2021 | 0.66 | 1.01 |
| Dec 28, 2019 | 0.72 | 0.81 |
| Dec 29, 2018 | 0.70 | 0.93 |
| Dec 30, 2017 | 0.68 | 1.22 |
| Dec 31, 2016 | 0.66 | 1.11 |
| Dec 31, 2015 | 0.56 | 1.15 |
| Dec 31, 2014 | 0.77 | 1.02 |
| Dec 28, 2013 | 0.85 | 1.08 |
| Dec 29, 2012 | 0.75 | 1.06 |
| Dec 31, 2011 | 0.91 | 0.98 |
| Dec 31, 2010 | 0.92 | 1.10 |
| Dec 31, 2009 | 1.12 | 1.27 |
| Dec 31, 2008 | 0.71 | 1.15 |
| Dec 29, 2007 | 0.67 | 0.87 |
| Dec 30, 2006 | 0.60 | 0.98 |
| Dec 31, 2005 | 0.69 | 1.03 |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Kellanova, current ratio, long-term trends, comparison to industry (consumer staples)
| Kellanova | Consumer Staples | |
|---|---|---|
| Dec 30, 2023 | 0.66 | 0.84 |
| Dec 31, 2022 | 0.66 | 0.87 |
| Dec 31, 2021 | 0.64 | 0.93 |
| Jan 2, 2021 | 0.66 | 0.92 |
| Dec 28, 2019 | 0.72 | 0.82 |
| Dec 29, 2018 | 0.70 | 0.87 |
| Dec 30, 2017 | 0.68 | 1.02 |
| Dec 31, 2016 | 0.66 | 1.04 |
| Dec 31, 2015 | 0.56 | 1.06 |
| Dec 31, 2014 | 0.77 | 0.97 |
| Dec 28, 2013 | 0.85 | 0.97 |
| Dec 29, 2012 | 0.75 | 0.99 |
| Dec 31, 2011 | 0.91 | 0.97 |
| Dec 31, 2010 | 0.92 | 1.01 |
| Dec 31, 2009 | 1.12 | 1.03 |
| Dec 31, 2008 | 0.71 | 0.98 |
| Dec 29, 2007 | 0.67 | 0.91 |
| Dec 30, 2006 | 0.60 | 1.04 |
| Dec 31, 2005 | 0.69 | 0.99 |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).