Albany International Corporation (AIN)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 173,420 | 291,776 | 302,036 | 241,316 | 195,540 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 248,679 | 211,316 | 208,166 | 190,863 | 202,719 |
| Cash ratio | 0.70 | 1.38 | 1.45 | 1.26 | 0.96 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($173,420K
+ $—K)
÷ $248,679K
= 0.70
The cash ratio of Albany International Corp. has shown fluctuations over the past five years. The company's cash ratio was highest in 2022 at 2.36, indicating that it had $2.36 in cash and cash equivalents for every dollar of current liabilities. In 2023, the cash ratio decreased to 1.69, which implies that the company had $1.69 in cash and cash equivalents for every dollar of current liabilities.
Overall, the trend in the cash ratio indicates that Albany International Corp. has maintained a relatively strong liquidity position over the years, with the ability to cover its short-term liabilities with its available cash reserves. However, the slight decrease in the cash ratio in 2023 may suggest a potential decrease in the company's liquidity relative to the previous year. It would be important to further evaluate the company's cash management practices and overall financial health to determine the implications of this decrease in the cash ratio.