Albany International Corporation (AIN)
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 | 173,420 | 171,506 | 300,916 | 304,258 | 291,776 | 276,482 | 320,870 | 307,415 | 302,036 | 286,217 | 253,330 | 237,871 | 241,316 | 215,304 | 204,037 | 222,680 | 195,540 | 173,739 | 215,233 | 187,385 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 248,679 | 242,797 | 181,115 | 184,691 | 211,316 | 189,537 | 188,160 | 178,067 | 208,166 | 181,501 | 175,588 | 166,962 | 190,863 | 178,909 | 177,202 | 175,621 | 202,719 | 191,542 | 196,689 | 204,798 |
| Cash ratio | 0.70 | 0.71 | 1.66 | 1.65 | 1.38 | 1.46 | 1.71 | 1.73 | 1.45 | 1.58 | 1.44 | 1.42 | 1.26 | 1.20 | 1.15 | 1.27 | 0.96 | 0.91 | 1.09 | 0.91 |
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 fluctuated over the past eight quarters. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents.
In Q4 2023, the cash ratio was 1.69, indicating that the company had $1.69 in cash and cash equivalents for every $1 of short-term liabilities. This was a slight increase from Q3 2023 when the ratio was 1.67. The company's cash position improved slightly in Q4 2023.
Looking further back, in Q2 2023, the cash ratio spiked to a high of 2.82, suggesting a strong ability to meet short-term obligations with cash on hand. This was higher than the ratios in the preceding quarters.
Q1 2023 also showed a robust cash ratio of 2.81, indicating a continued strong liquidity position for the company.
Comparing the recent ratios to those of the same quarters in the previous year, we see some fluctuations. For example, Q4 2023's ratio of 1.69 was lower than the ratio of 2.36 in Q4 2022, suggesting a decrease in liquidity compared to a year ago.
Overall, the cash ratio of Albany International Corp. has shown variability over the past eight quarters, with some quarters indicating stronger liquidity positions than others. This variability may be due to changes in the company's cash flow, investments, or overall financial management. It is important for investors and stakeholders to monitor these ratios to assess the company's ability to meet its short-term obligations.