Dover Corporation (DOV)
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 | 398,561 | 283,798 | 285,777 | 272,426 | 380,868 | 306,002 | 515,371 | 289,984 | 385,504 | 739,144 | 601,359 | 536,512 | 513,075 | 427,501 | 649,032 | 508,907 | 397,253 | 340,532 | 321,326 | 243,014 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,432,040 | 1,548,680 | 1,561,160 | 1,460,970 | 1,516,870 | 1,497,060 | 1,514,460 | 1,446,670 | 1,347,510 | 1,351,140 | 1,329,050 | 1,240,520 | 1,137,220 | 1,203,430 | 1,142,580 | 1,222,150 | 1,217,190 | 1,269,150 | 1,288,760 | 1,272,050 |
| Total current liabilities | US$ in thousands | 2,413,770 | 2,187,780 | 2,424,100 | 2,508,490 | 2,773,270 | 2,888,750 | 2,547,640 | 2,246,920 | 2,250,340 | 2,005,880 | 1,901,410 | 1,775,360 | 1,738,800 | 1,766,370 | 2,113,760 | 2,094,360 | 1,748,090 | 1,825,300 | 1,955,120 | 1,946,920 |
| Quick ratio | 0.76 | 0.84 | 0.76 | 0.69 | 0.68 | 0.62 | 0.80 | 0.77 | 0.77 | 1.04 | 1.02 | 1.00 | 0.95 | 0.92 | 0.85 | 0.83 | 0.92 | 0.88 | 0.82 | 0.78 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($398,561K
+ $—K
+ $1,432,040K)
÷ $2,413,770K
= 0.76
The quick ratio of Dover Corp. has shown some fluctuation over the past eight quarters, ranging from a low of 0.68 in Q3 2022 to a high of 0.91 in Q3 2023. The quick ratio measures the company's ability to cover its short-term liabilities with its most liquid assets. A higher quick ratio indicates a stronger liquidity position, as the company has more than enough liquid assets to cover its current liabilities.
Based on the data provided, Dover Corp.'s quick ratio has generally been below 1, suggesting that the company may have difficulty meeting its short-term obligations with its readily available assets alone. However, the quick ratio has shown some improvement in recent quarters, indicating that the company may be managing its liquidity more effectively. It is important for investors and analysts to continue monitoring Dover Corp.'s quick ratio and other liquidity indicators to assess the company's financial health and ability to meet its ongoing obligations.
Peer comparison
Dec 31, 2023