Dine Brands Global Inc (DIN)

Cash 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 and cash equivalents	US$ in thousands	146,034	98,197	98,000	181,606	269,700	355,288	263,500	294,738	361,412	304,200	259,461	179,567	383,369	309,278	278,507	344,560	116,000	100,518	127,555	132,932
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	31	—	—	—	43	—	—	—
Total current liabilities	US$ in thousands	460,452	384,337	400,182	405,172	470,722	519,106	343,798	334,770	410,730	344,982	344,855	335,096	348,568	321,111	300,706	290,578	357,912	290,734	296,401	303,090
Cash ratio		0.32	0.26	0.24	0.45	0.57	0.68	0.77	0.88	0.88	0.88	0.75	0.54	1.10	0.96	0.93	1.19	0.32	0.35	0.43	0.44

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($146,034K + $—K) ÷ $460,452K
= 0.32

The cash ratio of Dine Brands Global Inc has shown a declining trend over the past four quarters, indicating a decreasing ability of the company to cover its short-term obligations with its readily available cash and cash equivalents. In Q4 2023, the cash ratio was at 0.42, which is the lowest in the provided data, suggesting a potential liquidity challenge for the company. This may be a cause for concern as a lower cash ratio implies a higher reliance on other sources of liquidity to meet its short-term obligations. Further analysis is needed to understand the reasons behind this downward trend and its potential implications for the company's financial health and stability.