Crane Company (CR)
Quick ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | ||
|---|---|---|---|---|---|
| Cash | US$ in thousands | 329,600 | 273,800 | 218,900 | 292,000 |
| Short-term investments | US$ in thousands | — | — | — | — |
| Receivables | US$ in thousands | 306,400 | 323,500 | 299,700 | 315,600 |
| Total current liabilities | US$ in thousands | 467,100 | 415,600 | 401,100 | 380,900 |
| Quick ratio | 1.36 | 1.44 | 1.29 | 1.60 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($329,600K
+ $—K
+ $306,400K)
÷ $467,100K
= 1.36
The quick ratio of Crane Company has shown fluctuations over the four consecutive quarters. In Dec 2023, the quick ratio was 1.36, indicating that the company had $1.36 in liquid assets available to cover each $1 of current liabilities. This was a decrease from the previous quarter, Sep 2023, where the quick ratio was 1.44. The company's liquidity position weakened further in Jun 2023 with a quick ratio of 1.29 but improved significantly in Mar 2023 with a quick ratio of 1.60. Overall, the fluctuations in the quick ratio suggest that Crane Company's ability to meet its short-term obligations using its highly liquid assets has varied over the period under consideration.
Peer comparison
Dec 31, 2023