Brinks Company (BCO)

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	1,176,600	933,500	890,100	816,600	972,000	1,019,000	743,300	733,000	710,300	700,800	661,600	598,100	620,900	592,400	531,300	274,400	311,000	337,000	304,900	283,200
Short-term investments	US$ in thousands	—	19,700	19,600	15,100	—	7,200	12,800	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	1,944,100	1,624,600	1,619,500	1,602,600	1,674,800	1,347,900	1,371,800	1,364,500	1,429,000	1,404,000	1,330,800	1,266,800	1,336,200	1,166,400	1,072,700	980,600	1,002,000	888,600	888,800	845,400
Cash ratio		0.61	0.59	0.56	0.52	0.58	0.76	0.55	0.54	0.50	0.50	0.50	0.47	0.46	0.51	0.50	0.28	0.31	0.38	0.34	0.33

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,176,600K + $—K) ÷ $1,944,100K
= 0.61

The cash ratio of Brink's Co. fluctuated over the quarters, ranging from a low of 0.73 in Q1 2023 to a high of 0.99 in Q3 2022. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher ratio indicates a stronger ability to meet short-term obligations.

The consistent levels around 0.76 in Q2, Q4 of 2023, and Q4 of 2022 may suggest a relatively stable cash position during those periods. However, the decrease to 0.73 in Q1 2023 could indicate a potential liquidity issue or a decrease in cash reserves during that quarter.

It is essential for investors and stakeholders to monitor changes in the cash ratio over time to assess the company's liquidity and financial health accurately. The company should strive to maintain a healthy cash ratio to ensure it can meet its short-term obligations efficiently.