Deluxe Corporation (DLX)

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	71,962	42,189	39,052	24,622	40,435	45,535	43,262	44,059	41,231	121,064	163,338	125,440	123,122	310,430	371,951	310,146	73,620	73,472	66,732	61,529
Short-term investments	US$ in thousands	—	8,068	8,402	8,370	8,126	7,941	8,501	156,752	—	—	—	—	45,919	45,522	—	—	—	—	—	—
Receivables	US$ in thousands	235,665	262,084	268,119	277,222	251,480	248,084	240,297	235,603	246,684	205,844	205,974	160,546	185,286	138,349	140,285	158,681	163,421	142,845	152,784	156,840
Total current liabilities	US$ in thousands	819,065	588,105	571,098	579,268	752,345	585,844	553,089	561,362	683,358	540,887	527,235	404,568	411,820	378,859	358,521	358,701	407,947	361,847	349,634	356,449
Quick ratio		0.38	0.53	0.55	0.54	0.40	0.51	0.53	0.78	0.42	0.60	0.70	0.71	0.86	1.30	1.43	1.31	0.58	0.60	0.63	0.61

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($71,962K + $—K + $235,665K) ÷ $819,065K
= 0.38

The quick ratio of Deluxe Corp. has fluctuated over the past eight quarters, ranging from 0.83 to 0.88. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.

Deluxe Corp.'s quick ratio has generally stayed within a narrow range, indicating consistent liquidity management. A quick ratio above 1 typically suggests a strong ability to cover short-term liabilities with liquid assets. In this case, Deluxe Corp.'s quick ratio has hovered slightly below 1, implying a relatively lower level of liquidity.

While the quick ratio alone may not provide a complete picture of a company's overall financial health, it suggests that Deluxe Corp. may have a slightly tighter liquidity position in recent quarters. Further analysis of other financial ratios and additional context about the company's operations and industry dynamics would be necessary to fully assess the implications of its quick ratio trends.