Badger Meter Inc (BMI)
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 | 191,782 | 162,910 | 141,805 | 128,361 | 138,052 | 114,787 | 100,210 | 89,219 | 87,174 | 67,038 | 57,359 | 51,402 | 72,273 | 93,901 | 85,201 | 70,376 | 48,871 | 37,728 | 23,894 | 15,033 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 83,507 | 89,063 | 84,020 | 84,246 | 76,651 | 83,491 | 77,247 | 78,147 | 65,866 | 73,747 | 63,951 | 61,642 | 61,689 | 57,706 | 54,021 | 59,164 | 61,365 | 61,406 | 60,294 | 68,095 |
| Total current liabilities | US$ in thousands | 131,948 | 128,782 | 118,914 | 115,786 | 110,312 | 101,785 | 97,335 | 88,509 | 82,146 | 79,835 | 72,309 | 71,766 | 68,036 | 60,192 | 62,701 | 60,456 | 57,247 | 58,845 | 54,307 | 57,924 |
| Quick ratio | 2.09 | 1.96 | 1.90 | 1.84 | 1.95 | 1.95 | 1.82 | 1.89 | 1.86 | 1.76 | 1.68 | 1.58 | 1.97 | 2.52 | 2.22 | 2.14 | 1.93 | 1.68 | 1.55 | 1.44 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($191,782K
+ $—K
+ $83,507K)
÷ $131,948K
= 2.09
The quick ratio of Badger Meter Inc. has been relatively stable over the past eight quarters, ranging from 1.97 to 2.19. This ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory. A quick ratio above 1 indicates that the company has enough liquid assets to cover its short-term liabilities.
With quick ratios consistently above 2 in most quarters, Badger Meter Inc. appears to have a strong liquidity position. This suggests that the company is well-equipped to cover its immediate financial obligations without relying heavily on selling inventory. It is important to note that the quick ratio is just one aspect of the company's overall liquidity position and further analysis would be needed to gain a comprehensive understanding of its financial health.
Peer comparison
Dec 31, 2023