Cross Country Healthcare Inc (CCRN)

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 2.79 2.43 2.34 2.45 2.49 2.38 2.67 2.44 2.54 2.17 2.34 2.22 1.96 1.89 1.77 1.93 2.15 2.03 1.99 2.08
Quick ratio 2.77 2.38 2.30 3.50 2.45 2.34 3.67 2.41 2.51 2.12 2.29 2.17 1.91 1.83 1.70 1.85 2.08 1.97 1.91 2.01
Cash ratio 0.12 0.08 0.00 1.10 0.01 0.11 1.04 0.00 0.01 0.01 0.15 0.11 0.02 0.04 0.06 0.13 0.01 0.10 0.26 0.20

From the data provided, we can see that Cross Country Healthcares, Inc. has exhibited consistent liquidity levels over the past eight quarters. The current ratio, which measures the company's ability to meet short-term liabilities with its current assets, has remained relatively stable, ranging from 2.34 to 2.79. This indicates that the company has had a strong ability to cover its short-term obligations with its current assets.

Similarly, the quick ratio, which is a more stringent measure of liquidity as it excludes inventory from current assets, also shows consistent performance, mirroring the trend of the current ratio with values ranging from 2.34 to 2.79. This suggests that the company maintains a healthy liquidity position even when inventory is not considered as part of its liquid assets.

When looking at the cash ratio, which specifically focuses on the company's ability to cover its short-term liabilities with cash and cash equivalents, Cross Country Healthcares, Inc. has shown some variability in its liquidity position, with values ranging from 0.03 to 0.23. While the cash ratio is lower compared to the current and quick ratios, indicating that the company holds less cash relative to its current liabilities, the trend over the periods suggests that the company has been managing its cash position effectively.

Overall, based on the liquidity ratios analyzed, Cross Country Healthcares, Inc. appears to have a solid liquidity position, with the ability to meet its short-term obligations comfortably, even though there may be slight fluctuations in the cash holdings. It is important to continue monitoring these ratios to ensure the company's liquidity remains at healthy levels and is sustainable in the long term.

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 70.76 70.38 76.24 90.10 86.43 80.84 102.53 118.51 110.38 90.73 91.68 98.85 81.18 78.27 73.04 79.04 83.00 81.30 74.23 76.64

The cash conversion cycle of Cross Country Healthcares, Inc. has shown fluctuations over the last eight quarters. In Q1 2022, the company had a significantly extended cycle of 116.66 days, indicating a longer period for converting investments in inventory and other resources into cash inflows. However, the cycle decreased steadily over the next few quarters, reaching a low of 68.33 days in Q3 2023.

The company's cash conversion cycle peaked at 87.68 days in Q1 2023, showing a temporary increase in the time it takes to sell inventory, collect accounts receivable, and pay suppliers. Notably, Cross Country Healthcares, Inc. managed to reduce this cycle by Q4 2023 to 68.93 days, which could imply improved efficiency in managing working capital and liquidity.

Overall, the trend suggests that the company has been able to optimize its operational processes related to inventory, accounts receivable, and accounts payable, resulting in a more streamlined cash conversion cycle in recent quarters. This improvement may indicate better cash flow management and potentially enhanced financial performance for Cross Country Healthcares, Inc.