Everus Construction Group Inc (ECG)
Quick ratio
| Sep 30, 2024 | Jun 30, 2024 | Dec 31, 2023 | ||
|---|---|---|---|---|
| Cash | US$ in thousands | 553 | 59,142 | 1,567 |
| Short-term investments | US$ in thousands | — | — | — |
| Receivables | US$ in thousands | — | — | — |
| Total current liabilities | US$ in thousands | 559,561 | 484,420 | 452,183 |
| Quick ratio | 0.00 | 0.12 | 0.00 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($553K
+ $—K
+ $—K)
÷ $559,561K
= 0.00
The quick ratio, also known as the acid-test ratio, is a liquidity ratio that measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio of 1 or higher is generally considered satisfactory as it indicates a company can cover its current liabilities with its quick assets.
In the case of Everus Construction Group Inc, the quick ratio has shown significant fluctuations over the past three quarters. As of September 30, 2024, the quick ratio dropped to 0.00, indicating that the company's quick assets were insufficient to cover its current liabilities. This could raise concerns about Everus Construction Group Inc's short-term liquidity position and its ability to meet its immediate financial obligations.
The quick ratio of 0.12 as of June 30, 2024, showed a slight improvement from the previous quarter. However, the ratio still suggests that Everus Construction Group Inc may have limited ability to quickly cover its short-term liabilities with its liquid assets.
Notably, the quick ratio was reported as 0.00 as of December 31, 2023, indicating a lack of quick assets relative to current liabilities at that time, which signals potential liquidity challenges.
Overall, based on the quick ratio trend observed, it is important for Everus Construction Group Inc to closely monitor and manage its liquidity position to ensure it can meet its short-term obligations as they fall due.
Peer comparison
Sep 30, 2024