• Magna average current ratio for 2023 was 1.14, a 8.8% decline from 2022.
• Magna average current ratio for 2022 was 1.25, a 10.07% decline from 2021.
• Magna average current ratio for 2021 was 1.39, a 7.75% decline from 2020.

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