Crane Company (CR)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | ||
|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 329,600 | 273,800 | 218,900 | 292,000 |
| Short-term investments | US$ in thousands | — | — | — | — |
| Total current liabilities | US$ in thousands | 467,100 | 415,600 | 401,100 | 380,900 |
| Cash ratio | 0.71 | 0.66 | 0.55 | 0.77 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($329,600K
+ $—K)
÷ $467,100K
= 0.71
The cash ratio for Crane Company has shown fluctuations over the four quarters of 2023. The trend indicates a decrease from March to June, followed by an increase in the ratio in the subsequent quarter.
A cash ratio of 0.71 as of December 31, 2023, signifies that for every dollar of current liabilities, the company holds $0.71 in cash or near-cash assets. This suggests an improvement in the company's liquidity position compared to the previous quarter.
Although the cash ratio of 0.71 is a positive sign, it is essential to monitor the trend over time to assess the company's ability to meet its short-term obligations using its available cash resources effectively. Further analysis of the company's cash management practices and overall financial health would provide a more holistic view of Crane Company's liquidity position.
Peer comparison
Dec 31, 2023