• Woodward average current ratio for 2023 was 2.45, a 12.19% decline from 2022.
• Woodward average current ratio for 2022 was 2.79, a 32.93% decline from 2021.
• Woodward average current ratio for 2021 was 4.16, a 45.45% decline from 2020.

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