CEVA Inc (CEVA)

Cash 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 and cash equivalents	US$ in thousands	23,287	17,082	27,511	24,483	20,116	29,072	19,289	39,778	33,153	34,278	26,706	53,662	21,143	22,067	29,979	22,903	22,803	14,851	24,527	21,469
Short-term investments	US$ in thousands	133,101	104,513	97,875	106,433	112,488	101,349	104,075	94,413	93,217	74,149	75,324	83,884	88,754	78,506	67,293	67,909	64,867	70,462	76,123	77,587
Total current liabilities	US$ in thousands	26,887	25,686	26,127	35,037	33,278	28,062	31,589	40,787	35,440	30,638	29,281	36,919	28,180	25,891	25,078	27,613	26,378	25,694	21,332	22,959
Cash ratio		5.82	4.73	4.80	3.74	3.98	4.65	3.91	3.29	3.57	3.54	3.48	3.73	3.90	3.88	3.88	3.29	3.32	3.32	4.72	4.31

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($23,287K + $133,101K) ÷ $26,887K
= 5.82

The cash ratio of Ceva Inc. has shown fluctuation over the quarters analyzed. In Q4 2023, the cash ratio was 6.66, indicating that the company had $6.66 in cash and cash equivalents for every $1 of current liabilities. This was an increase compared to the previous quarters, demonstrating a strong liquidity position at the end of 2023.

In Q3 2023 and Q2 2023, the cash ratio was 5.39 and 5.49, respectively, which also indicated a healthy liquidity position above the industry average. However, there was a decrease in Q1 2023 to 4.15, which might suggest a temporary strain on liquidity.

Comparing to the same quarters in the previous year, Ceva Inc. has generally improved its cash ratio. For example, in Q4 2022, the cash ratio was 4.40, lower than Q4 2023, indicating a positive trend in liquidity management.

Overall, the upward trend in the cash ratio from Q1 2023 to Q4 2023 suggests that Ceva Inc. has been effectively managing its liquidity and may be better positioned to meet its short-term obligations. However, it would be important to monitor future trends to ensure sustained liquidity health.