EMCOR Group Inc (EME)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 789,750 | 456,439 | 821,345 | 902,867 | 358,818 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,518,360 | 2,753,520 | 2,361,730 | 2,163,230 | 1,938,610 |
| Cash ratio | 0.22 | 0.17 | 0.35 | 0.42 | 0.19 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($789,750K
+ $—K)
÷ $3,518,360K
= 0.22
The cash ratio for Emcor Group, Inc. has shown fluctuations over the past five years. The ratio was 0.32 as of December 31, 2023, an increase from the previous year's ratio of 0.29. In 2021, the cash ratio was higher at 0.48, followed by a decrease to 0.53 in 2020, and a further decrease to 0.30 in 2019.
The cash ratio indicates the company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher ratio signifies a stronger ability to meet short-term obligations without relying on external sources, while a lower ratio may suggest liquidity challenges.
Emcor Group's cash ratio has experienced variability, which could indicate fluctuations in the company's cash position and/or short-term obligations. Further analysis of the company's overall liquidity position and cash management strategies would provide more insights into its financial health and ability to manage short-term obligations effectively.
Peer comparison
Dec 31, 2023