Dana Inc (DAN)
Quick ratio
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 529,000 | 421,000 | 484,000 | 401,000 | 425,000 | 371,000 | 321,000 | 259,000 | 268,000 | 220,000 | 384,000 | 483,000 | 559,000 | 956,000 | 694,000 | 628,000 | 508,000 | 402,000 | 289,000 | 383,000 |
| Short-term investments | US$ in thousands | — | — | — | — | 17,000 | 13,000 | 19,000 | 19,000 | 17,000 | 18,000 | 59,000 | 26,000 | 21,000 | 22,000 | 19,000 | 23,000 | 19,000 | 20,000 | 15,000 | 20,000 |
| Receivables | US$ in thousands | 1,689,000 | 1,854,000 | 1,869,000 | 1,872,000 | 1,614,000 | 1,759,000 | 1,802,000 | 1,875,000 | 1,586,000 | 1,643,000 | 1,623,000 | 1,665,000 | 1,463,000 | 1,410,000 | 1,065,000 | 1,301,000 | 1,343,000 | 1,483,000 | 1,637,000 | 1,618,000 |
| Total current liabilities | US$ in thousands | 2,602,000 | 2,670,000 | 2,720,000 | 2,876,000 | 2,479,000 | 2,658,000 | 2,605,000 | 2,620,000 | 2,174,000 | 2,173,000 | 2,200,000 | 2,170,000 | 1,941,000 | 1,837,000 | 1,379,000 | 2,067,000 | 1,845,000 | 1,990,000 | 2,064,000 | 2,113,000 |
| Quick ratio | 0.85 | 0.85 | 0.87 | 0.79 | 0.83 | 0.81 | 0.82 | 0.82 | 0.86 | 0.87 | 0.94 | 1.00 | 1.05 | 1.30 | 1.29 | 0.94 | 1.01 | 0.96 | 0.94 | 0.96 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($529,000K
+ $—K
+ $1,689,000K)
÷ $2,602,000K
= 0.85
The quick ratio of Dana Inc has fluctuated over the past eight quarters. It ranged from a low of 0.87 in Q1 2023 to a high of 0.96 in Q2 2023. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities without selling inventory or obtaining external financing.
Overall, Dana Inc's quick ratio has been relatively stable around the 0.90 level, with slight variations quarter to quarter. It is important for the company to closely monitor its quick ratio to ensure it maintains a healthy liquidity position to meet its financial obligations in the short term.
Peer comparison
Dec 31, 2023