Blackbaud Inc (BLKB)

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	31,251	31,091	29,041	24,083	31,691	31,413	29,029	33,786	55,146	27,591	28,288	27,753	35,750	30,563	30,531	24,972	31,810	29,084	32,654	25,187
Short-term investments	US$ in thousands	353	3,557	3,731	2,136	249	1,853	1,194	2,049	977	6,076	5,390	945	321	4,901	1,284	1,205	524	7,784	5,349	5,474
Receivables	US$ in thousands	101,862	102,755	168,908	100,253	102,809	86,704	149,237	91,770	102,726	105,873	119,270	83,333	95,404	96,830	129,675	89,191	88,868	90,700	131,277	90,727
Total current liabilities	US$ in thousands	1,197,140	937,600	1,361,130	863,863	1,230,640	871,022	994,319	758,932	1,109,630	660,126	877,627	646,134	1,013,400	620,268	858,885	622,779	988,837	677,438	790,544	601,075
Quick ratio		0.11	0.15	0.15	0.15	0.11	0.14	0.18	0.17	0.14	0.21	0.17	0.17	0.13	0.21	0.19	0.19	0.12	0.19	0.21	0.20

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($31,251K + $353K + $101,862K) ÷ $1,197,140K
= 0.11

The quick ratio of Blackbaud Inc has shown fluctuation over the past eight quarters, ranging from 0.17 to 0.30. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.

A quick ratio below 1 indicates that the company may have difficulty meeting its short-term debt obligations, as it suggests that its current assets are insufficient to cover current liabilities. Blackbaud Inc's quick ratio has consistently remained below 1 in all quarters, indicating a potential liquidity concern.

The declining trend in the quick ratio from Q1 2022 to Q4 2023 suggests that the company may be facing challenges in converting its current assets into cash quickly. This could be a cause for concern as it may imply difficulties in paying off immediate financial obligations.

It is crucial for investors and stakeholders to monitor Blackbaud Inc's quick ratio closely to assess its liquidity position and ability to manage short-term financial obligations effectively. A sustained improvement in the quick ratio would indicate enhanced liquidity and financial health for the company.