CDW Corp (CDW)
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 | 588,700 | 440,700 | 203,900 | 279,400 | 315,200 | 384,600 | 541,600 | 386,900 | 258,100 | 245,100 | 501,200 | 878,600 | 1,410,200 | 1,249,500 | 958,400 | 214,400 | 154,000 | 166,900 | 194,500 | 285,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 5,038,000 | 4,908,200 | 5,015,200 | 4,731,700 | 4,950,400 | 5,035,800 | 4,938,500 | 5,063,300 | 4,934,900 | 3,955,300 | 3,801,400 | 3,630,700 | 3,592,100 | 3,671,800 | 3,382,900 | 3,591,900 | 3,397,300 | 3,331,700 | 3,373,300 | 3,078,500 |
| Total current liabilities | US$ in thousands | 5,442,000 | 4,782,100 | 4,997,300 | 4,777,900 | 4,947,100 | 5,358,800 | 5,415,600 | 5,464,600 | 5,096,000 | 3,833,200 | 3,770,100 | 3,709,300 | 3,898,300 | 3,836,600 | 3,561,500 | 3,647,200 | 3,491,400 | 3,241,000 | 3,460,300 | 3,215,000 |
| Quick ratio | 1.03 | 1.12 | 1.04 | 1.05 | 1.06 | 1.01 | 1.01 | 1.00 | 1.02 | 1.10 | 1.14 | 1.22 | 1.28 | 1.28 | 1.22 | 1.04 | 1.02 | 1.08 | 1.03 | 1.05 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($588,700K
+ $—K
+ $5,038,000K)
÷ $5,442,000K
= 1.03
The quick ratio for CDW Corp has been relatively stable over the past eight quarters, ranging from 1.06 to 1.20. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its short-term liabilities. CDW Corp's quick ratio has generally been above 1, suggesting a strong ability to meet its short-term financial obligations. However, it is important to note that a quick ratio of 1.20 in Q3 2023 is higher than the other quarters, indicating potentially excessive liquidity that could be further analyzed to understand the company's cash management strategies. Overall, the consistent quick ratio above 1 reflects a solid liquidity position for CDW Corp.
Peer comparison
Dec 31, 2023