Crane NXT Co (CXT)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 227,200 | 230,700 | 478,600 | 551,000 | 393,900 |
| Short-term investments | US$ in thousands | — | 426,900 | — | — | — |
| Receivables | US$ in thousands | 214,900 | 474,700 | 472,400 | 432,700 | 555,100 |
| Total current liabilities | US$ in thousands | 334,400 | 631,400 | 789,300 | 1,056,600 | 916,700 |
| Quick ratio | 1.32 | 1.79 | 1.20 | 0.93 | 1.04 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($227,200K
+ $—K
+ $214,900K)
÷ $334,400K
= 1.32
The quick ratio of Crane NXT Co has shown fluctuations over the past five years. In 2023, the quick ratio is 1.32, indicating that the company has $1.32 of quickly liquidable assets for every $1 of current liabilities, providing a healthy buffer to cover short-term obligations. This is a slight decrease compared to the quick ratio of 1.79 in 2022, which suggests the company may have slightly reduced its ability to meet its short-term obligations using its most liquid assets.
In 2021, the quick ratio was 1.20, reflecting a moderate ability to cover current liabilities, while in 2020, the quick ratio was 0.93, indicating potential liquidity concerns as the company had less than $1 of quick assets for every $1 of current liabilities. However, there was a significant improvement in 2019 with a quick ratio of 1.04, showing a better ability to meet short-term obligations.
Overall, the fluctuation in the quick ratio of Crane NXT Co over the years indicates varying levels of liquidity and highlights the importance of monitoring the company's ability to address immediate financial obligations.
Peer comparison
Dec 31, 2023