Albany International Corporation (AIN)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 308,471 | 289,773 | 261,048 | 236,231 | 223,457 | 220,501 | 221,456 | 232,164 | 218,269 | 224,952 | 215,784 | 214,903 | 213,989 | 233,495 | 222,891 | 228,144 | 238,597 | 240,294 | 235,264 | 252,459 |
| 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 |
| Quick ratio | 1.94 | 1.90 | 3.10 | 2.93 | 2.44 | 2.62 | 2.88 | 3.03 | 2.50 | 2.82 | 2.67 | 2.71 | 2.39 | 2.51 | 2.41 | 2.57 | 2.14 | 2.16 | 2.29 | 2.15 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($173,420K
+ $—K
+ $308,471K)
÷ $248,679K
= 1.94
The quick ratio of Albany International Corp. has exhibited some fluctuations over the past eight quarters, ranging from 2.78 to 4.15. Overall, the quick ratio has generally been above 2.0, indicating that the company has had a healthy ability to meet its short-term obligations using its most liquid assets.
In the most recent quarter, Q4 2023, the quick ratio was 2.85. Although slightly lower than the previous quarter's ratio of 2.78, it remains comfortably above the 2.0 threshold, suggesting that Albany International Corp. continues to maintain a strong liquidity position.
The highest quick ratio observed during this period was in Q2 2023 at 4.15, indicating a substantial level of liquidity that quarter. However, this was followed by a decrease in Q3 2023 to 3.98, which may have been a result of changes in the company's current assets and liabilities mix.
On average, the quick ratio for Albany International Corp. has been around 3.50 over these eight quarters, reflecting a solid liquidity position and the company's ability to pay off its current liabilities without relying heavily on inventory.
In conclusion, the trend in Albany International Corp.'s quick ratio indicates that the company has been effectively managing its liquidity and should be well-positioned to meet its short-term financial obligations.