Axcelis Technologies Inc (ACLS)
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 | 167,297 | 142,300 | 132,504 | 164,479 | 185,595 | 308,552 | 287,167 | 297,141 | 294,923 | 271,085 | 219,731 | 206,766 | 203,479 | 211,967 | 190,340 | 174,745 | 139,881 | 155,317 | 136,340 | 163,104 |
| Short-term investments | US$ in thousands | 338,851 | 318,710 | 320,360 | 280,220 | 246,571 | 33,576 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 285,129 | 261,178 | 248,460 | 267,942 | 248,132 | 207,856 | 152,970 | 147,497 | 150,140 | 137,195 | 106,474 | 83,878 | 84,431 | 69,383 | 86,759 | 75,373 | 68,664 | 63,027 | 52,084 | 66,058 |
| Cash ratio | 1.78 | 1.77 | 1.82 | 1.66 | 1.74 | 1.65 | 1.88 | 2.01 | 1.96 | 1.98 | 2.06 | 2.47 | 2.41 | 3.06 | 2.19 | 2.32 | 2.04 | 2.46 | 2.62 | 2.47 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($167,297K
+ $338,851K)
÷ $285,129K
= 1.78
The cash ratio of Axcelis Technologies Inc has been relatively stable over the past eight quarters, ranging from 1.80 to 2.21. A cash ratio above 1 indicates that the company has enough cash and cash equivalents to cover its current liabilities, which is generally seen as a positive sign of financial health.
In Q4 2023 and Q3 2023, the cash ratio remained consistent at 1.95, suggesting a strong liquidity position. The slight dip to 1.80 in Q1 2023 may indicate a temporary decrease in cash reserves relative to current liabilities. However, this was followed by an improvement to 1.98 in Q2 2023, indicating better liquidity management.
Comparing the most recent ratios with those from the previous year, we can see fluctuations in the cash ratio. In Q4 2022, the ratio was 1.88, slightly lower than the recent quarters, while in Q2 2022 and Q1 2022, the company demonstrated higher liquidity with ratios of 2.10 and 2.21, respectively.
Overall, Axcelis Technologies Inc's cash ratio suggests that the company has maintained a healthy level of liquidity throughout the periods under review, with some fluctuations occurring but generally remaining above the critical threshold of 1.
Peer comparison
Dec 31, 2023