AdvanSix Inc (ASIX)
Cash ratio
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 29,768 | 22,110 | 10,536 | 1,826 | 30,985 | 24,694 | 17,297 | 19,306 | 15,100 | 7,239 | 4,251 | 14,124 | 10,606 | 16,686 | 72,663 | 30,754 | 7,050 | 10,048 | 17,057 | 7,803 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 358,918 | 307,954 | 300,143 | 314,960 | 393,492 | 350,656 | 356,344 | 307,252 | 309,822 | 306,140 | 269,105 | 259,482 | 287,037 | 253,162 | 226,324 | 268,680 | 291,726 | 286,668 | 253,727 | 256,702 |
| Cash ratio | 0.08 | 0.07 | 0.04 | 0.01 | 0.08 | 0.07 | 0.05 | 0.06 | 0.05 | 0.02 | 0.02 | 0.05 | 0.04 | 0.07 | 0.32 | 0.11 | 0.02 | 0.04 | 0.07 | 0.03 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($29,768K
+ $—K)
÷ $358,918K
= 0.08
The cash ratio of AdvanSix Inc has displayed some fluctuation over the past eight quarters. The ratio measures the company's ability to cover its short-term liabilities with its readily available cash and cash equivalents.
In Q4 2023, the cash ratio was 0.11, indicating that AdvanSix had $0.11 in cash and cash equivalents for every $1 of current liabilities. This was slightly lower than the previous quarter, where the ratio was 0.12. Despite the slight decrease, the company still had a healthy level of cash relative to its short-term obligations.
Looking further back, the cash ratio in Q2 2023 was 0.10, which was consistent with the ratio seen in Q4 2022. There was a significant improvement from Q1 2023 when the ratio was only 0.03, suggesting that AdvanSix may have strengthened its liquidity position during that period.
Comparing Q4 2023 to Q1 2022, there has been overall stability in the cash ratio, hovering around the 0.10 mark. This indicates that AdvanSix has maintained a relatively consistent ability to meet its short-term liabilities with its available cash over the past eight quarters.
Overall, the cash ratio trend of AdvanSix Inc suggests that the company has managed its liquidity effectively, ensuring that it has sufficient cash on hand to cover its short-term obligations.
Peer comparison
Dec 31, 2023