• Hormel Foods average current ratio for 2023 was 1.9, a 18.8% increase from 2022.
• Hormel Foods average current ratio for 2022 was 2.34, a 4.1% decline from 2021.
• Hormel Foods average current ratio for 2021 was 2.44, a 10.91% decline from 2020.

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