Enphase Energy Inc (ENPH)

Cash ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cash and cash equivalents	US$ in thousands	369,110	256,325	252,102	253,652	288,748	290,075	278,676	286,045	473,244	337,583	495,473	251,850	119,316	885,546	1,312,260	1,489,010	679,379	661,792	607,254	549,144
Short-term investments	US$ in thousands	1,253,480	1,510,300	1,394,300	1,375,940	1,406,290	1,493,810	1,521,820	1,492,350	1,139,600	1,079,710	752,328	811,621	897,335	508,577	—	—	0	—	—	—
Total current liabilities	US$ in thousands	660,091	567,478	529,632	554,095	532,449	774,387	743,605	729,289	638,219	550,236	480,010	453,756	439,796	393,455	356,593	344,473	534,043	256,519	223,523	233,622
Cash ratio		2.46	3.11	3.11	2.94	3.18	2.30	2.42	2.44	2.53	2.58	2.60	2.34	2.31	3.54	3.68	4.32	1.27	2.58	2.72	2.35

December 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($369,110K + $1,253,480K) ÷ $660,091K
= 2.46

The cash ratio of Enphase Energy Inc has fluctuated over the periods provided in the json data. The ratio stood at 2.35 as of March 31, 2020, and gradually increased to a peak of 4.32 on March 31, 2021, indicating a significant improvement in the company's ability to cover its short-term liabilities with its cash and cash equivalents.

However, the cash ratio declined to 1.27 by December 31, 2020, before gradually recovering to around 2.5 in the following periods. This downward trend suggests a potential liquidity strain for Enphase Energy Inc at the end of 2020, which was later addressed through improved cash holdings in the subsequent quarters.

Overall, the company's cash ratio has shown some volatility but generally indicates that Enphase Energy Inc has maintained a solid level of liquidity to meet its short-term obligations throughout the periods presented in the data.