Calix Inc (CALX)
Liquidity ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 3.19 | 4.22 | 3.69 | 3.58 | 3.31 | 2.96 | 3.51 | 3.11 | 3.19 | 3.20 | 2.98 | 2.83 | 2.64 | 2.43 | 1.35 | 1.21 | 1.25 | 1.15 | 1.15 | 1.16 |
| Quick ratio | 1.85 | 2.41 | 2.22 | 1.60 | 2.03 | 1.30 | 1.71 | 1.51 | 2.26 | 1.61 | 1.50 | 1.37 | 1.32 | 1.12 | 0.43 | 0.36 | 0.41 | 0.30 | 0.27 | 0.33 |
| Cash ratio | 1.17 | 1.80 | 1.63 | 1.60 | 1.46 | 1.30 | 1.71 | 1.51 | 1.59 | 1.61 | 1.50 | 1.37 | 1.32 | 1.12 | 0.43 | 0.36 | 0.41 | 0.30 | 0.27 | 0.33 |
Calix Inc's liquidity ratios have shown consistent improvement over the quarters, indicating the company's ability to meet its short-term obligations. The current ratio, which measures the company's ability to cover its short-term liabilities with its current assets, has been increasing steadily and is currently at a healthy level, with the highest ratio recorded in Q3 2023.
The quick ratio, also known as the acid-test ratio, provides a more stringent measure of liquidity by excluding inventory from current assets. Calix Inc's quick ratio has also improved over the quarters, with a noticeable increase in Q3 and Q4 2023, showing the company's ability to cover its short-term obligations with its most liquid assets.
The cash ratio, which is the most conservative measure of liquidity as it only considers cash and cash equivalents, has also been on an upward trend for Calix Inc. This ratio indicates the company's ability to cover its current liabilities with its most liquid assets.
Overall, the increasing trend in all three liquidity ratios suggests that Calix Inc has a strong liquidity position and is well-equipped to meet its short-term financial obligations.
Additional liquidity measure
| 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 conversion cycle | days | 108.77 | 95.60 | 97.06 | 67.00 | 97.00 | 43.64 | 48.13 | 46.28 | 89.13 | 32.66 | 32.77 | 34.97 | 34.10 | 23.12 | 25.17 | 10.03 | 29.89 | 22.54 | 8.04 | 14.17 |
Over the past eight quarters, Calix Inc has experienced fluctuations in its cash conversion cycle. The cash conversion cycle, which measures the time it takes for a company to convert its investments in inventory and other resources into cash inflows from sales, has ranged from a low of 113.04 days in Q4 2023 to a high of 131.95 days in Q1 2023.
A shorter cash conversion cycle indicates that the company is more efficient in managing its working capital and converting its resources into cash. Conversely, a longer cash conversion cycle suggests that the company may be facing challenges in managing its working capital effectively.
Overall, Calix Inc's cash conversion cycle has been relatively stable, with some fluctuations observed over the quarters. It is essential for the company to monitor and manage its cash conversion cycle effectively to ensure optimal working capital management and liquidity position.