Cavco Industries Inc (CVCO)
Quick ratio
| Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 352,687 | 352,808 | 377,264 | 352,234 | 271,427 | 376,148 | 333,249 | 238,072 | 244,150 | 267,265 | 224,291 | 329,753 | 322,279 | 327,487 | 312,243 | 270,547 | 241,826 | 216,882 | 190,478 | 199,820 |
| Short-term investments | US$ in thousands | 18,270 | 16,819 | 14,358 | 14,173 | 14,978 | 16,607 | 16,367 | 15,864 | 20,086 | 21,116 | 18,867 | 19,749 | 19,496 | 16,966 | 16,589 | 16,374 | 14,582 | 13,945 | 13,375 | 13,230 |
| Receivables | US$ in thousands | 77,123 | 82,356 | 99,063 | 98,354 | 106,366 | 94,123 | — | — | 117,063 | — | — | — | 89,750 | 86,386 | 77,575 | 83,804 | 43,566 | 76,562 | 80,390 | 72,987 |
| Total current liabilities | US$ in thousands | 273,267 | 271,172 | 305,475 | 293,376 | 293,391 | 278,423 | 306,051 | 304,675 | 294,170 | 272,762 | 282,271 | 242,187 | 237,104 | 213,342 | 208,221 | 179,056 | 172,102 | 161,790 | 169,697 | 175,330 |
| Quick ratio | 1.64 | 1.67 | 1.61 | 1.58 | 1.34 | 1.75 | 1.14 | 0.83 | 1.30 | 1.06 | 0.86 | 1.44 | 1.82 | 2.02 | 1.95 | 2.07 | 1.74 | 1.90 | 1.68 | 1.63 |
March 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($352,687K
+ $18,270K
+ $77,123K)
÷ $273,267K
= 1.64
The quick ratio of Cavco Industries Inc over the past few quarters has shown fluctuations. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates the company has enough liquid assets to cover its current liabilities.
From the data provided, we can observe that the quick ratio has varied between 0.83 and 2.07 over the last few quarters. A quick ratio of 1.64 as of March 31, 2024, suggests that the company had $1.64 in liquid assets available to cover each $1 of current liabilities. This indicates a relatively healthy liquidity position.
The trend in the quick ratio shows that Cavco Industries Inc has generally maintained a quick ratio above 1, indicating a strong ability to cover its short-term obligations. However, the ratio has experienced fluctuations, reaching a low of 0.83 in June 30, 2022, and peaking at 2.07 in June 30, 2020.
Overall, the company's quick ratio has shown some variability, but the recent levels above 1 indicate that Cavco Industries Inc has generally been able to meet its short-term liabilities using its readily available liquid assets. Continued monitoring of the quick ratio will be important to assess the company's ongoing liquidity position.