Apogee Enterprises Inc (APOG)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 173,557 | 198,249 | 205,720 | 210,796 | 197,267 | 222,554 | 231,853 | 193,741 | 168,592 | 165,005 | 160,858 | 172,433 | 175,917 | 172,877 | 165,682 | 156,304 | 196,806 | 197,976 | 201,913 | — |
| 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 |
| Quick ratio | 0.86 | 0.95 | 1.01 | 1.02 | 0.90 | 1.06 | 1.09 | 1.02 | 0.89 | 1.12 | 1.12 | 1.11 | 1.03 | 1.08 | 0.51 | 0.44 | 0.76 | 0.52 | 0.58 | 0.10 |
March 2, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($37,216K
+ $—K
+ $173,557K)
÷ $244,705K
= 0.86
The quick ratio measures a company's ability to meet its short-term obligations using its most liquid assets. Apogee Enterprises Inc's quick ratio has fluctuated over the periods provided.
The quick ratio was highest at 1.12 in Aug 28, 2021, Nov 26, 2022, and May 29, 2021, indicating a strong ability to cover short-term liabilities with liquid assets. This suggests that the company had a comfortable cushion of liquid assets to settle its current debts.
However, the quick ratio dropped to its lowest point of 0.10 on Jun 1, 2019, indicating that the company had limited liquid assets compared to its current liabilities at that time.
Overall, Apogee Enterprises Inc's quick ratio has shown some variability, with values ranging from 0.10 to 1.12. Investors and stakeholders should continue to monitor the quick ratio to assess the company's liquidity position and ability to meet its short-term obligations.