Apogee Enterprises Inc (APOG)
Cash ratio
| Mar 2, 2024 | Nov 25, 2023 | Aug 26, 2023 | May 27, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 37,216 | 23,407 | 18,423 | 24,642 | 19,924 | 21,746 | 22,065 | 15,186 | 37,583 | 78,272 | 61,821 | 36,469 | 47,277 | 55,413 | 19,001 | 11,636 | 14,952 | 10,129 | 13,812 | 20,619 |
| Short-term investments | US$ in thousands | — | 2,406 | 2,675 | 2,850 | 2,173 | 1,720 | 1,419 | 1,396 | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 244,705 | 236,575 | 224,286 | 233,159 | 242,549 | 232,037 | 233,383 | 207,065 | 232,946 | 217,890 | 199,649 | 188,205 | 217,552 | 211,700 | 361,786 | 379,530 | 276,857 | 399,542 | 371,262 | 214,905 |
| Cash ratio | 0.15 | 0.11 | 0.09 | 0.12 | 0.09 | 0.10 | 0.10 | 0.08 | 0.16 | 0.36 | 0.31 | 0.19 | 0.22 | 0.26 | 0.05 | 0.03 | 0.05 | 0.03 | 0.04 | 0.10 |
March 2, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($37,216K
+ $—K)
÷ $244,705K
= 0.15
The cash ratio of Apogee Enterprises Inc has shown some fluctuations over the past few quarters. The cash ratio measures a company's ability to cover its short-term liabilities using cash and cash equivalents.
The cash ratio for Apogee Enterprises Inc ranged from 0.03 to 0.36 over the periods mentioned in the table. A higher cash ratio indicates a better ability to cover short-term liabilities.
The company's cash ratio reached its peak at 0.36 in Nov 27, 2021, suggesting a stronger liquidity position at that time. However, it dropped to 0.03 in May 30, 2020, which implies a potential liquidity challenge during that period.
Overall, the cash ratio of Apogee Enterprises Inc has exhibited some variability, indicating fluctuations in its liquidity position over the analyzed period. It would be important for the company to maintain a healthy cash ratio to ensure it can cover its short-term obligations effectively.