Axcelis Technologies Inc (ACLS)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 217,964 | 192,327 | 159,199 | 189,597 | 169,773 | 173,893 | 146,120 | 118,987 | 104,410 | 78,257 | 79,544 | 75,932 | 86,865 | 45,161 | 64,909 | 64,238 | 83,753 | 49,046 | 62,279 | 70,947 |
| 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 |
| Quick ratio | 2.54 | 2.50 | 2.46 | 2.37 | 2.43 | 2.48 | 2.83 | 2.82 | 2.66 | 2.55 | 2.81 | 3.37 | 3.44 | 3.71 | 2.94 | 3.17 | 3.26 | 3.24 | 3.81 | 3.54 |
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 measures a company's ability to meet its short-term obligations with its most liquid assets, excluding inventory. Axcelis Technologies Inc has shown a consistently strong quick ratio over the past eight quarters, ranging from 2.51 to 3.05. This indicates that the company has a sufficient amount of highly liquid assets to cover its current liabilities without relying on selling inventory. The quick ratio above 1 suggests that Axcelis Technologies Inc is in a healthy financial position in terms of liquidity and is able to meet its short-term obligations comfortably. The increasing trend from Q1 2022 to Q2 2022 followed by a slight decline in subsequent quarters indicates that the company's liquidity position has been relatively stable and robust. Overall, the quick ratio data suggests that Axcelis Technologies Inc has a strong ability to manage its short-term financial obligations.
Peer comparison
Dec 31, 2023