Core & Main Inc (CNM)
Quick ratio
| Jan 28, 2024 | Jan 29, 2023 | Jan 30, 2022 | ||
|---|---|---|---|---|
| Cash | US$ in thousands | 1,000 | 177,000 | 1,000 |
| Short-term investments | US$ in thousands | — | — | — |
| Receivables | US$ in thousands | 973,000 | 955,000 | 884,000 |
| Total current liabilities | US$ in thousands | 774,000 | 726,000 | 839,000 |
| Quick ratio | 1.26 | 1.56 | 1.05 |
January 28, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,000K
+ $—K
+ $973,000K)
÷ $774,000K
= 1.26
The quick ratio of Core & Main Inc has exhibited fluctuations over the past three years. As of January 28, 2024, the quick ratio stands at 1.26, indicating that the company has $1.26 of liquid assets available to cover each $1 of current liabilities. This suggests a decreased level of liquidity compared to the quick ratio of 1.56 reported on January 29, 2023. However, it is worth noting that the current quick ratio of 1.26 still falls within an acceptable range, reflecting the company's ability to meet its short-term obligations using its liquid assets. The quick ratio of 1.05 reported on January 30, 2022, was the lowest among the three years, indicating a potentially lower level of liquidity and ability to cover short-term liabilities at that time. Overall, the fluctuation in the quick ratio of Core & Main Inc should be closely monitored to ensure continued liquidity and financial stability.