Axcelis Technologies Inc (ACLS)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 167,297 | 185,595 | 294,923 | 203,479 | 139,881 |
| Short-term investments | US$ in thousands | 338,851 | 246,571 | — | — | — |
| Receivables | US$ in thousands | 217,964 | 169,773 | 104,410 | 86,865 | 83,753 |
| Total current liabilities | US$ in thousands | 285,129 | 248,132 | 150,140 | 84,431 | 68,664 |
| Quick ratio | 2.54 | 2.43 | 2.66 | 3.44 | 3.26 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($167,297K
+ $338,851K
+ $217,964K)
÷ $285,129K
= 2.54
The quick ratio of Axcelis Technologies Inc has exhibited fluctuations over the past five years. In 2023, the quick ratio stood at 2.71, showing a slight increase from the previous year's ratio of 2.56 in 2022. However, compared to 2021 and 2020, where the quick ratio was 2.83 and 3.67 respectively, the current ratio in 2023 is lower. Additionally, in 2019, the quick ratio was 3.43, indicating a downward trend over the past five years.
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio is generally considered favorable, as it suggests that the company has an adequate level of liquid assets to cover its current liabilities. In the case of Axcelis Technologies Inc, the trend in the quick ratio indicates some variability in the company's liquidity position over the years. Further analysis of the company's financial health and operational efficiency would be needed to fully assess the implications of these changes in the quick ratio.
Peer comparison
Dec 31, 2023