Astec Industries Inc (ASTE)
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 | 63,200 | 73,800 | 44,500 | 42,500 | 66,000 | 20,800 | 50,600 | 111,700 | 134,400 | 164,600 | 174,500 | 164,600 | 158,600 | 108,529 | 119,797 | 43,854 | 48,900 | 26,289 | 24,905 | 28,606 |
| Short-term investments | US$ in thousands | 5,700 | 5,700 | 4,000 | 3,600 | 3,900 | 4,200 | 5,800 | 6,100 | 8,600 | 9,200 | 9,300 | 7,000 | 22,300 | 3,746 | 2,903 | 2,056 | 19,198 | 1,103 | 1,211 | 1,589 |
| Total current liabilities | US$ in thousands | 299,000 | 282,200 | 264,100 | 272,000 | 274,000 | 283,900 | 273,400 | 256,500 | 223,300 | 212,000 | 207,800 | 185,100 | 170,300 | 161,239 | 144,027 | 168,890 | 172,800 | 173,081 | 173,936 | 190,793 |
| Cash ratio | 0.23 | 0.28 | 0.18 | 0.17 | 0.26 | 0.09 | 0.21 | 0.46 | 0.64 | 0.82 | 0.88 | 0.93 | 1.06 | 0.70 | 0.85 | 0.27 | 0.39 | 0.16 | 0.15 | 0.16 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($63,200K
+ $5,700K)
÷ $299,000K
= 0.23
The cash ratio of Astec Industries Inc. has fluctuated over the past eight quarters. The ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents. In Q4 2023, the cash ratio was 0.37, indicating that the company had $0.37 in cash and cash equivalents for every dollar of short-term liabilities. This suggests a moderate liquidity position.
Compared to the previous quarters, the cash ratio peaked at 0.62 in Q1 2022, showing a strong liquidity position at that time. However, the ratio dropped to 0.23 in Q3 2022 before gradually improving in the subsequent quarters.
Overall, the trend of the cash ratio indicates some variability in Astec Industries Inc.'s liquidity position over the past year. Investors and creditors may want to monitor this ratio closely to assess the company's ability to meet its short-term obligations with its available cash resources.
Peer comparison
Dec 31, 2023