Benchmark Electronics Inc (BHE)

Quick ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cash	US$ in thousands	315,152	324,423	309,287	296,055	277,391	259,542	244,587	210,893	207,430	247,298	262,269	244,935	271,749	288,567	369,301	400,428	390,808	329,558	351,167	411,786
Short-term investments	US$ in thousands	—	—	—	—	—	—	148	507	639	976	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	412,458	372,276	376,568	417,396	449,404	479,037	484,654	461,911	491,965	479,207	446,538	382,000	356,224	313,483	290,319	277,187	309,748	306,890	302,617	318,954
Total current liabilities	US$ in thousands	649,099	639,131	643,060	667,819	713,547	699,104	721,921	711,863	749,136	848,900	785,078	684,465	654,382	600,169	581,409	505,110	481,136	449,485	464,620	459,339
Quick ratio		1.12	1.09	1.07	1.07	1.02	1.06	1.01	0.95	0.93	0.86	0.90	0.92	0.96	1.00	1.13	1.34	1.46	1.42	1.41	1.59

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($315,152K + $—K + $412,458K) ÷ $649,099K
= 1.12

The quick ratio of Benchmark Electronics Inc has exhibited fluctuations over the period from March 31, 2020, to December 31, 2024. The quick ratio provides insight into the company's ability to meet its short-term liabilities with its most liquid assets.

Initially, the quick ratio was relatively stable above 1.0, indicating a healthy liquidity position. However, starting from June 30, 2021, the ratio began to decline gradually. By December 31, 2022, the quick ratio fell below 1.0, raising concerns about the company's short-term liquidity.

Throughout the following quarters, the quick ratio continued to hover below 1.0, implying potential challenges in meeting immediate financial obligations with its quick assets. The ratio hit its lowest point at 0.86 on September 30, 2022, reflecting a significant strain on liquidity.

However, from March 31, 2023, onwards, there was a gradual improvement in the quick ratio, surpassing 1.0 again. This trend continued into the end of the period, with the quick ratio reaching 1.12 by December 31, 2024, signaling a better liquidity position.

Overall, the fluctuating quick ratio of Benchmark Electronics Inc indicates varying levels of liquidity risk and the company's ability to manage its short-term obligations with its liquid assets over the period under review.