Balchem Corporation (BCPC)
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 | 64,447 | 76,952 | 66,856 | 60,199 | 66,560 | 56,489 | 76,183 | 64,466 | 103,239 | 90,013 | 79,902 | 88,535 | 84,571 | 78,967 | 76,407 | 73,959 | 65,672 | 59,404 | 41,674 | 39,004 |
| Short-term investments | US$ in thousands | — | — | — | 730 | 1,406 | 1,612 | 1,048 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 125,284 | 129,009 | 125,109 | 131,369 | 131,578 | 140,812 | 138,579 | 136,974 | 117,408 | 110,711 | 113,782 | 106,806 | 98,214 | 98,709 | 97,107 | 105,867 | 93,444 | 93,995 | 101,595 | 99,834 |
| Total current liabilities | US$ in thousands | 148,491 | 108,038 | 114,386 | 116,523 | 140,042 | 142,085 | 144,143 | 123,529 | 143,802 | 104,926 | 100,759 | 88,763 | 94,428 | 68,413 | 67,960 | 71,720 | 92,258 | 72,023 | 62,091 | 63,810 |
| Quick ratio | 1.28 | 1.91 | 1.68 | 1.65 | 1.42 | 1.40 | 1.50 | 1.63 | 1.53 | 1.91 | 1.92 | 2.20 | 1.94 | 2.60 | 2.55 | 2.51 | 1.72 | 2.13 | 2.31 | 2.18 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($64,447K
+ $—K
+ $125,284K)
÷ $148,491K
= 1.28
The quick ratio of Balchem Corp. has fluctuated over the past eight quarters, ranging from a low of 1.38 to a high of 2.08. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory. A quick ratio above 1 indicates the company has an adequate level of liquid assets to cover its short-term liabilities.
In the most recent quarter, Q4 2023, Balchem Corp. had a quick ratio of 1.38, which was a decrease from the previous quarter. Although the quick ratio decreased, it still remains above 1, indicating that the company has sufficient liquid assets to cover its short-term obligations.
The quarterly trend of the quick ratio suggests some variability in Balchem Corp.'s liquidity position. It is essential for the company to closely monitor and manage its liquidity to ensure it can meet its short-term financial commitments effectively. Overall, the quick ratio provides valuable insight into Balchem Corp.'s liquidity position and its ability to manage short-term financial obligations.
Peer comparison
Dec 31, 2023