The Andersons Inc (ANDE)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 643,854 | 115,269 | 216,444 | 29,123 | 54,895 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 762,549 | 1,261,150 | 845,164 | 665,457 | 546,970 |
| Total current liabilities | US$ in thousands | 1,636,330 | 2,521,320 | 2,463,930 | 1,931,680 | 1,439,920 |
| Quick ratio | 0.86 | 0.55 | 0.43 | 0.36 | 0.42 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($643,854K
+ $—K
+ $762,549K)
÷ $1,636,330K
= 0.86
The quick ratio of Andersons Inc. has shown a steady improvement over the past five years. The ratio increased from 0.54 in 2019 to 1.00 in 2023, indicating that the company's ability to meet its short-term obligations with its most liquid assets has strengthened significantly. This trend suggests that Andersons Inc. has become more efficient in managing its current liabilities with its quick assets such as cash, marketable securities, and accounts receivable. A quick ratio of 1.00 in 2023 means that the company has $1 of quick assets available to cover each $1 of current liabilities, reflecting a strong liquidity position. Overall, the consistent improvement in the quick ratio indicates better financial health and short-term solvency for Andersons Inc.
Peer comparison
Dec 31, 2023