AAON Inc (AAON)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 287 | 212 | 5,237 | 2,515 | 5,451 | 10,738 | 17,647 | 5,633 | 2,859 | 101,813 | 111,427 | 97,047 | 79,025 | 70,603 | 61,284 | 35,677 | 26,797 | 28,373 | 13,683 | 7,143 |
| Short-term investments | US$ in thousands | — | 211,788 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 4,000 | — |
| Total current liabilities | US$ in thousands | 126,749 | 140,479 | 153,673 | 137,871 | 145,567 | 142,184 | 136,169 | 114,226 | 86,768 | 74,206 | 78,511 | 66,679 | 59,033 | 61,506 | 76,620 | 64,185 | 56,028 | 53,103 | 58,102 | 43,082 |
| Cash ratio | 0.00 | 1.51 | 0.03 | 0.02 | 0.04 | 0.08 | 0.13 | 0.05 | 0.03 | 1.37 | 1.42 | 1.46 | 1.34 | 1.15 | 0.80 | 0.56 | 0.48 | 0.53 | 0.30 | 0.17 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($287K
+ $—K)
÷ $126,749K
= 0.00
The cash ratio of AAON Inc. has shown some fluctuations over the past eight quarters. In Q4 2023, the cash ratio increased to 0.38, indicating that the company had $0.38 in cash and cash equivalents for every $1 of current liabilities. This is a significant improvement compared to the previous quarter where the ratio was 0.20.
The trend of the cash ratio over the past year has been somewhat volatile, with fluctuations observed in each quarter. While the cash ratio was at its lowest point in Q4 2022 at 0.15, it has generally shown an increasing trend since then, reaching its highest point in Q4 2023.
A cash ratio above 1 is typically considered healthy, as it indicates that a company has sufficient cash to cover its short-term liabilities. AAON Inc.'s cash ratio has been below 1 in all quarters, suggesting that the company may need to rely on other sources of liquidity to meet its short-term obligations.
Overall, the increasing trend of AAON Inc.'s cash ratio in recent quarters is a positive sign, indicating an improvement in the company's ability to cover its short-term liabilities with available cash and cash equivalents. However, investors and analysts may still want to closely monitor the company's liquidity position and assess other factors contributing to its overall financial health.
Peer comparison
Dec 31, 2023