Avista Corporation (AVA)

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	35,003	8,630	15,704	10,596	13,428	14,363	21,619	203,598	22,168	19,224	39,027	21,647	14,196	84,747	116,394	18,919	9,896	14,454	17,231	14,861
Short-term investments	US$ in thousands	153,350	154,873	149,675	150,681	147,809	113,390	111,957	92,795	91,057	83,496	69,921	61,132	59,318	—	—	—	51,258	—	—	—
Receivables	US$ in thousands	324,509	164,057	164,907	244,382	368,177	188,548	195,907	227,631	307,129	169,847	155,780	197,499	284,844	115,069	117,182	155,253	240,963	108,577	115,493	170,200
Total current liabilities	US$ in thousands	775,205	583,464	541,163	604,587	964,534	685,200	553,401	641,925	913,106	799,186	891,909	492,799	505,879	474,839	656,562	565,806	530,713	399,185	516,735	566,642
Quick ratio		0.66	0.56	0.61	0.67	0.55	0.46	0.60	0.82	0.46	0.34	0.30	0.57	0.71	0.42	0.36	0.31	0.57	0.31	0.26	0.33

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($35,003K + $153,350K + $324,509K) ÷ $775,205K
= 0.66

The quick ratio of Avista Corp. has shown fluctuations over the past eight quarters, ranging from 0.50 to 0.92. A quick ratio below 1.0 indicates that the company may have difficulty meeting its short-term obligations with its most liquid assets.

In Q1 2023, Avista Corp. had a quick ratio of 0.92, indicating a strong ability to cover its current liabilities using its quick assets. However, the ratio decreased over the following quarters, reaching a low of 0.50 in Q3 2022, which could raise concerns about the company's liquidity position.

Overall, the trend suggests that Avista Corp. may have experienced challenges in maintaining a consistent level of liquidity over the past two years, which could impact its ability to meet short-term financial obligations promptly. Monitoring this ratio closely will be crucial to assess the company's financial health and liquidity management.