Cross Country Healthcare Inc (CCRN)

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	17,094	14,301	673	291,000	3,604	30,320	279,000	1,208	1,036	842	18,127	13,488	1,600	3,446	6,234	12,599	1,032	9,458	24,830	18,286
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	393,871	423,419	496,841	636,125	663,134	617,099	707,676	682,768	500,856	305,695	261,212	250,241	176,401	173,652	161,358	170,231	176,313	174,970	154,977	161,761
Total current liabilities	US$ in thousands	148,587	183,578	216,027	264,908	271,640	276,790	268,658	283,245	199,770	144,662	122,060	121,660	93,423	96,666	98,781	99,002	85,465	93,488	94,144	89,788
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

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($17,094K + $—K + $393,871K) ÷ $148,587K
= 2.77

The quick ratio of Cross Country Healthcares, Inc. has shown consistency and stability over the past eight quarters, ranging from 2.34 to 2.79. This indicates that the company has a strong ability to meet its short-term obligations using its most liquid assets, such as cash, accounts receivable, and marketable securities.

A quick ratio above 1.0 is generally considered favorable as it suggests that the company can cover its current liabilities without relying heavily on inventory. Cross Country Healthcares, Inc. consistently having quick ratios well above 1.0 reflects a healthy liquidity position and indicates the company's ability to manage its short-term financial commitments effectively.

Overall, the trend in the quick ratio for Cross Country Healthcares, Inc. demonstrates a prudent approach to managing liquidity risk and suggests that the company is well-positioned to meet its short-term obligations without experiencing financial strain.