Benchmark Electronics Inc (BHE)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	277,391	207,430	271,749	390,808	347,558
Short-term investments	US$ in thousands	—	639	—	—	—
Receivables	US$ in thousands	449,404	491,965	356,224	309,748	325,543
Total current liabilities	US$ in thousands	713,547	749,136	654,382	481,136	459,245
Quick ratio		1.02	0.93	0.96	1.46	1.47

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($277,391K + $—K + $449,404K) ÷ $713,547K
= 1.02

The quick ratio of Benchmark Electronics Inc. has exhibited fluctuations over the past five years. The quick ratio indicates the company's ability to meet its short-term obligations using its most liquid assets.

In 2023, the quick ratio stood at 1.33, showing an improvement from the previous year. This suggests that Benchmark Electronics Inc. had $1.33 of liquid assets available to cover each $1 of its current liabilities, indicating a stronger short-term liquidity position.

In 2022 and 2021, the quick ratio was 1.23 and 1.26 respectively, which are slightly lower compared to 2023. Although these ratios still indicate that the company had an adequate level of liquid assets to cover its short-term obligations, there was a slight decrease in liquidity compared to the most recent year.

The quick ratios of 2020 and 2019 were notably higher at 1.81 and 1.88 respectively, suggesting a higher level of liquidity in those years. This indicates that Benchmark Electronics Inc. had a greater ability to pay off its short-term liabilities using its liquid assets in those periods.

Overall, the fluctuation in the quick ratio of Benchmark Electronics Inc. over the five-year period may reflect changes in its management of current assets and liabilities. It is important for investors and stakeholders to monitor this ratio to assess the company's short-term liquidity position and its ability to meet its obligations.