Altair Engineering Inc (ALTR)
Quick ratio
| Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 557,605 | 467,459 | 431,188 | 418,338 | 378,377 | 316,146 | 311,853 | 416,137 | 405,578 | 413,743 | 455,858 | 260,098 | 243,364 | 241,221 | 245,364 | 250,540 | 247,145 | 223,117 | 246,937 | 251,828 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 146,768 | 207,111 | 134,257 | 138,765 | 141,862 | 181,538 | 130,386 | 114,895 | 124,629 | 146,949 | 97,630 | 99,519 | 113,097 | 124,614 | 95,605 | 84,945 | 93,549 | 112,248 | 95,613 | 94,273 |
| Total current liabilities | US$ in thousands | 296,754 | 324,110 | 296,915 | 319,248 | 300,394 | 232,738 | 198,476 | 187,064 | 430,741 | 473,978 | 347,896 | 356,210 | 359,390 | 200,754 | 149,488 | 146,074 | 150,640 | 152,866 | 143,256 | 141,067 |
| Quick ratio | 2.37 | 2.08 | 1.90 | 1.75 | 1.73 | 2.14 | 2.23 | 2.84 | 1.23 | 1.18 | 1.59 | 1.01 | 0.99 | 1.82 | 2.28 | 2.30 | 2.26 | 2.19 | 2.39 | 2.45 |
March 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($557,605K
+ $—K
+ $146,768K)
÷ $296,754K
= 2.37
The quick ratio of Altair Engineering Inc has fluctuated over the past few quarters, ranging from a low of 0.99 to a high of 2.84. The quick ratio is a measure of a company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
In the most recent quarter, as of March 31, 2024, the quick ratio was 2.37, showing a healthy level of liquidity. This means Altair Engineering Inc had $2.37 in liquid assets available to cover each $1 of its current liabilities. The trend in the quick ratio over the past few quarters indicates fluctuations but generally staying above 1, which is a positive sign for the company's short-term financial health.
Overall, the quick ratio analysis suggests that Altair Engineering Inc has maintained a relatively strong liquidity position, which should enable it to meet its short-term obligations effectively. However, it is important for the company to monitor this ratio closely to ensure continued financial stability.
Peer comparison
Mar 31, 2024