Calix Inc (CALX)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 63,409 | 79,073 | 51,333 | 80,807 | 46,829 |
| Short-term investments | US$ in thousands | 156,937 | 162,642 | 153,002 | 52,982 | — |
| Total current liabilities | US$ in thousands | 187,642 | 165,422 | 128,136 | 101,040 | 115,493 |
| Cash ratio | 1.17 | 1.46 | 1.59 | 1.32 | 0.41 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($63,409K
+ $156,937K)
÷ $187,642K
= 1.17
The cash ratio of Calix Inc has shown a generally positive trend over the years, indicating the company's ability to cover its short-term liabilities with its available cash and cash equivalents. In 2023, the cash ratio was 1.81, slightly lower than the ratio in 2022 and 2021, which were 1.84. This slight decrease may suggest a small reduction in the company's liquid assets relative to its current liabilities.
However, when comparing the 2023 ratio to earlier years, such as 2020 and 2019, the improvement is evident. The cash ratio in 2020 was 1.44, showing a significant increase from the previous year's ratio of 0.49 in 2019. This improvement indicates that Calix Inc has enhanced its liquidity position and is better equipped to meet its short-term obligations using its cash reserves.
Overall, the company's cash ratio has been relatively strong and stable in recent years, reflecting its prudent management of cash resources and ability to maintain a healthy level of liquidity. It is essential for investors and stakeholders to consider this trend when evaluating Calix Inc's financial health and ability to handle short-term financial obligations.
Peer comparison
Dec 31, 2023