Allegheny Technologies Incorporated (ATI)
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 | 743,900 | 432,900 | 267,100 | 196,200 | 584,000 | 329,100 | 274,000 | 316,700 | 687,700 | 1,006,800 | 472,500 | 541,700 | 645,900 | 572,200 | 539,100 | 639,000 | 490,800 | 511,300 | 281,200 | 217,000 |
| Short-term investments | US$ in thousands | — | 1,200 | 1,500 | 1,300 | 1,400 | 1,100 | 500 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 977,100 | 829,300 | 897,500 | 824,000 | 963,900 | 822,800 | 799,900 | 877,200 | 856,400 | 1,207,300 | 599,100 | 689,200 | 653,300 | 563,700 | 614,400 | 1,059,200 | 849,200 | 763,300 | 759,200 | 760,000 |
| Cash ratio | 0.76 | 0.52 | 0.30 | 0.24 | 0.61 | 0.40 | 0.34 | 0.36 | 0.80 | 0.83 | 0.79 | 0.79 | 0.99 | 1.02 | 0.88 | 0.60 | 0.58 | 0.67 | 0.37 | 0.29 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($743,900K
+ $—K)
÷ $977,100K
= 0.76
The cash ratio of ATI Inc has shown variability over the past eight quarters, ranging from as low as 0.36 in Q1 2023 to as high as 0.89 in Q4 2023. The ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates that the company has more liquidity to meet its short-term obligations.
In Q4 2023, ATI Inc had a cash ratio of 0.89, indicating that the company had $0.89 in cash and cash equivalents for every dollar of its short-term liabilities. This suggests a strong liquidity position and the ability to easily cover its short-term obligations.
On the other hand, in Q1 2023, the cash ratio was 0.36, signaling that the company had lower liquidity and may face difficulties in meeting its short-term liabilities solely from its cash reserves.
Overall, ATI Inc's cash ratio has been fluctuating, and it is essential for the company to maintain a healthy balance between cash reserves and short-term liabilities to ensure financial stability and operational efficiency.