CH Robinson Worldwide Inc (CHRW)

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	145,524	174,733	210,155	239,160	217,482	187,532	238,925	242,809	257,413	202,649	172,803	217,611	243,796	252,569	362,236	294,572	447,858	384,424	355,307	445,473
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	1,906,170	1,868,190	1,879,930	1,873,360	—	—	—	—	—	—
Receivables	US$ in thousands	2,381,960	2,442,300	2,505,130	2,681,580	2,991,750	3,802,160	4,302,320	4,391,510	3,963,490	3,721,570	3,166,770	2,874,460	2,449,580	2,346,380	2,018,190	2,092,610	1,974,380	2,074,450	2,100,250	2,057,930
Total current liabilities	US$ in thousands	2,051,990	2,649,540	2,761,490	2,947,870	3,322,850	3,358,880	3,485,750	3,541,200	3,326,340	3,251,690	2,586,380	2,300,910	1,839,730	1,760,980	1,673,380	1,804,720	1,556,040	1,434,140	1,496,340	1,429,660
Quick ratio		1.23	0.99	0.98	0.99	0.97	1.19	1.30	1.31	1.27	1.21	2.03	2.16	2.49	2.54	1.42	1.32	1.56	1.71	1.64	1.75

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($145,524K + $—K + $2,381,960K) ÷ $2,051,990K
= 1.23

The quick ratio of C.H. Robinson Worldwide, Inc. has fluctuated over the past eight quarters, ranging from 1.08 to 1.49. A quick ratio above 1 indicates that the company has a sufficient amount of liquid assets to cover its current liabilities.

In Q4 2023, the quick ratio improved to 1.40 from 1.12 in the previous quarter, indicating an increase in the company's ability to cover its short-term obligations with its most liquid assets. This may imply improved liquidity and financial health compared to Q3 2023.

However, the trend in the quick ratio over the past year shows some variability, with peaks and troughs in different quarters. While a higher quick ratio is generally favorable, investors and analysts should also consider the trend over time and compare it to industry benchmarks to gain a more comprehensive understanding of the company's liquidity position.