EMCOR Group Inc (EME)
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 | 789,750 | 523,632 | 503,052 | 420,075 | 456,439 | 403,816 | 262,370 | 514,513 | 821,345 | 663,905 | 668,908 | 758,833 | 902,867 | 679,342 | 481,391 | 347,092 | 358,818 | 368,073 | 213,374 | 252,031 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,518,360 | 3,232,800 | 2,949,460 | 2,661,390 | 2,753,520 | 2,638,800 | 2,402,940 | 2,296,570 | 2,361,730 | 2,250,120 | 2,143,110 | 2,093,410 | 2,163,230 | 1,978,850 | 1,808,210 | 1,786,380 | 1,938,610 | 1,793,370 | 1,704,570 | 1,673,180 |
| Cash ratio | 0.22 | 0.16 | 0.17 | 0.16 | 0.17 | 0.15 | 0.11 | 0.22 | 0.35 | 0.30 | 0.31 | 0.36 | 0.42 | 0.34 | 0.27 | 0.19 | 0.19 | 0.21 | 0.13 | 0.15 |
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 of Emcor Group, Inc. has shown some fluctuations over the past eight quarters. The cash ratio indicates the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
Analyzing the trend, we can see that the cash ratio has ranged between 0.25 and 0.37 over the period. The highest cash ratio was observed in Q1 2022 at 0.37, suggesting the company had a higher proportion of cash to cover its short-term obligations at that time. Conversely, the lowest cash ratio was recorded in Q2 2022 at 0.25.
Overall, the company's cash ratio tends to fluctuate within a relatively narrow range, indicating a consistent ability to meet its short-term obligations with its available cash reserves. However, it's worth noting that a cash ratio below 1 may indicate that Emcor Group, Inc. relies on sources other than cash to cover its short-term liabilities, such as accounts receivable or short-term investments.
Peer comparison
Dec 31, 2023