Cal-Maine Foods Inc (CALM)
Quick ratio
| Jun 1, 2024 | Mar 2, 2024 | Dec 2, 2023 | Sep 2, 2023 | Jun 3, 2023 | Feb 25, 2023 | Nov 26, 2022 | Aug 27, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 237,878 | 367,123 | 361,783 | 360,343 | 292,824 | 221,614 | 178,635 | 136,021 | 59,084 | 15,589 | 15,484 | 16,684 | 57,352 | 52,917 | 47,308 | 42,809 | 78,130 | 67,753 | 11,248 | 46,386 |
| Short-term investments | US$ in thousands | 574,499 | 327,720 | 206,045 | 249,619 | 355,090 | 423,418 | 200,714 | 145,784 | 115,429 | 81,125 | 69,672 | 73,666 | 112,158 | 127,771 | 124,621 | 150,524 | 154,163 | 80,863 | 123,275 | 189,700 |
| Receivables | US$ in thousands | 162,442 | 246,622 | 199,162 | 159,150 | 187,213 | 249,867 | 305,111 | 220,364 | 219,404 | 180,037 | 152,958 | 134,400 | 126,639 | 130,314 | 117,278 | 83,816 | 98,375 | 100,962 | 118,046 | 78,359 |
| Total current liabilities | US$ in thousands | 227,743 | 215,689 | 153,787 | 126,382 | 182,731 | 313,060 | 306,549 | 230,431 | 184,674 | 121,373 | 116,388 | 97,543 | 90,097 | 100,804 | 94,118 | 77,879 | 93,183 | 89,660 | 102,848 | 75,489 |
| Quick ratio | 4.28 | 4.36 | 4.99 | 6.09 | 4.57 | 2.86 | 2.23 | 2.18 | 2.13 | 2.28 | 2.05 | 2.30 | 3.29 | 3.09 | 3.07 | 3.56 | 3.55 | 2.78 | 2.46 | 4.17 |
June 1, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($237,878K
+ $574,499K
+ $162,442K)
÷ $227,743K
= 4.28
The quick ratio of Cal-Maine Foods Inc has shown some fluctuations over the past few quarters, ranging from a low of 2.05 to a high of 6.09. A quick ratio above 1 indicates that the company has an acceptable level of liquidity to cover its short-term obligations.
In general, the quick ratio has been consistently above 2, suggesting that Cal-Maine Foods Inc has a strong ability to meet its short-term liabilities using its most liquid assets. However, the ratio did decrease significantly in the most recent quarter to 2.18, which may raise some concerns about the company's liquidity position.
It is important to monitor the trend of the quick ratio in future periods to ensure that Cal-Maine Foods Inc maintains a healthy level of liquidity to weather any potential financial challenges.