Benchmark Electronics Inc (BHE)

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	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	347,558	348,042	396,613	395,316
Short-term investments	US$ in thousands	—	—	148	507	639	976	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	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	325,543	349,153	363,684	406,018
Total current liabilities	US$ in thousands	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	459,245	441,237	487,660	490,236
Quick ratio		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	1.47	1.58	1.56	1.63

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 shown fluctuations over the past eight quarters. The quick ratio is a measure of a company's ability to meet its short-term obligations with its most liquid assets.

In the most recent quarter (Q4 2023), the quick ratio was at 1.33, indicating that the company had $1.33 in liquid assets available to cover each $1 of its current liabilities. This suggests the company had a relatively strong ability to meet its short-term obligations using its quick assets.

The trend of the quick ratio over the past quarters shows some variability but generally demonstrates the company's ability to maintain a healthy liquidity position. The quick ratio has consistently been above 1 in each quarter, indicating that Benchmark Electronics Inc. has had sufficient quick assets to cover its current liabilities.

The highest quick ratio in the provided data was in Q3 2023 at 1.40, while the lowest was in Q4 2022 at 1.13. This variability could be influenced by factors such as changes in the company's cash, marketable securities, accounts receivable, and current liabilities.

Overall, the trend of the quick ratio for Benchmark Electronics Inc. indicates that the company has maintained a prudent liquidity position, with a generally stable ability to meet its short-term obligations using its quick assets over the past eight quarters.