Belden Inc (BDC)

Liquidity ratios

	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
Current ratio	2.30	2.55	2.53	2.70	2.40	2.54	2.39	2.39	2.49	2.04	2.00	2.10	2.11	2.20	2.21	2.07	1.91	1.94	1.89	1.97
Quick ratio	1.60	1.83	1.80	1.88	1.76	1.80	1.61	1.60	1.36	1.41	1.39	1.40	1.53	1.58	1.23	0.97	1.03	1.31	1.27	1.30
Cash ratio	0.94	0.96	0.91	1.10	1.07	1.00	0.89	0.96	0.86	0.74	0.73	0.73	0.96	0.86	0.67	0.44	0.56	0.51	0.50	0.59

The liquidity ratios of Belden Inc, namely the current ratio, quick ratio, and cash ratio, have exhibited fluctuations over the past eight quarters.

The current ratio, which measures the company's ability to meet short-term obligations with its current assets, has ranged from 2.30 to 2.70 during this period. Generally, a current ratio above 2 indicates a healthy liquidity position, as is the case for Belden Inc throughout the quarters analyzed, though it did briefly dip below 2 in Q4 2022.

The quick ratio, also known as the acid-test ratio, provides a more stringent measure of liquidity by excluding inventory from current assets. Belden Inc’s quick ratio has varied between 1.72 and 2.00, reflecting the company's ability to cover its short-term liabilities with its most liquid assets. A quick ratio above 1 is considered favorable, and Belden Inc has consistently met this benchmark.

The cash ratio, representing the most conservative measure of liquidity, assesses a company's ability to cover its current liabilities with cash and cash equivalents alone. Belden Inc’s cash ratio has fluctuated between 1.00 and 1.22, indicating that the company holds sufficient cash to meet its short-term obligations without relying on other current assets.

Overall, Belden Inc has maintained solid liquidity ratios across the quarters examined, with the current ratio, quick ratio, and cash ratio generally staying at healthy levels. The fluctuations observed could be due to seasonal variations in the company's operations or strategic decisions impacting its liquidity management.')}

Additional liquidity measure

		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 conversion cycle	days	65.70	74.12	81.88	74.22	59.80	73.93	72.21	65.47	53.05	71.75	73.81	76.99	62.82	73.18	71.67	62.57	47.18	82.86	88.22	87.21

The cash conversion cycle of Belden Inc has fluctuated over the past eight quarters. It reached its peak in Q2 2023 at 81.88 days and its lowest point in Q4 2022 at 59.80 days. Generally, a shorter cash conversion cycle indicates that the company is able to quickly convert its investments in inventory and accounts receivable into cash. However, the trend of Belden Inc's cash conversion cycle shows some inconsistency, reflecting potential challenges in managing inventory, receivables, and payables efficiently. Continuous monitoring and improvement in working capital management practices may be necessary to optimize the cash conversion cycle and enhance the company's liquidity position.