• Caterpillar average current ratio for 2023 was 1.39, a 2.11% increase from 2022.
• Caterpillar average current ratio for 2022 was 1.42, a 8.97% decline from 2021.
• Caterpillar average current ratio for 2021 was 1.56, a 4% decline from 2020.

Current ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations.