Astec Industries Inc (ASTE)
Quick 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 | 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 |
| Receivables | US$ in thousands | 152,700 | 174,700 | 157,600 | 172,200 | 173,600 | 160,600 | 160,100 | 137,900 | 141,700 | 145,800 | 148,300 | 141,200 | 115,900 | 127,160 | 114,917 | 136,710 | 120,300 | 110,583 | 135,969 | 133,431 |
| 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 |
| Quick ratio | 0.74 | 0.90 | 0.78 | 0.80 | 0.89 | 0.65 | 0.79 | 1.00 | 1.27 | 1.51 | 1.60 | 1.69 | 1.74 | 1.48 | 1.65 | 1.08 | 1.09 | 0.80 | 0.93 | 0.86 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($63,200K
+ $5,700K
+ $152,700K)
÷ $299,000K
= 0.74
The quick ratio of Astec Industries Inc. has shown some fluctuations over the past eight quarters. The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets excluding inventory.
In Q4 2023, the quick ratio was 0.88, indicating that the company had $0.88 in liquid assets available to cover each $1 of its current liabilities. This ratio improved compared to Q3 2023 when it was 1.05. However, it was lower than the quick ratios of Q2 2023 (0.93) and Q1 2023 (0.96).
Compared to the same quarter in the previous year, the quick ratio in Q4 2023 (0.88) was lower than in Q4 2022 (1.05). However, it was an improvement from Q2 2022 (0.99) and Q3 2022 (0.82).
The quick ratio is an important financial metric as it provides insight into a company's liquidity and ability to meet its short-term obligations. Astec Industries Inc. may need to closely monitor its liquidity position and manage its current assets and liabilities effectively to ensure it can meet its obligations efficiently in the future.
Peer comparison
Dec 31, 2023