ASGN Inc (ASGN)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	175,900	70,300	529,600	274,400	95,200
Short-term investments	US$ in thousands	—	—	—	—	—
Total current liabilities	US$ in thousands	394,100	441,900	450,900	416,200	340,900
Cash ratio		0.45	0.16	1.17	0.66	0.28

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($175,900K + $—K) ÷ $394,100K
= 0.45

The cash ratio of ASGN Inc has fluctuated over the past five years. In 2023, the cash ratio stands at 0.59, indicating that the company has $0.59 in cash and cash equivalents for every dollar of current liabilities. This represents an improvement compared to the previous year, where the cash ratio was 0.29.

In 2021, ASGN Inc had a notably high cash ratio of 1.33, reflective of a strong liquidity position with $1.33 in cash reserves for every dollar of current liabilities. This suggests the company had a significant amount of liquid assets to cover its short-term obligations.

In 2020 and 2019, the cash ratio was 0.76 and 0.38 respectively, showing moderate liquidity positions in those years. Overall, while the cash ratio has varied, ASGN Inc has maintained a level of liquidity that suggests the ability to meet its short-term obligations using its readily available cash resources.