Enphase Energy Inc (ENPH)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 288,748 | 473,244 | 119,316 | 679,379 | 251,409 |
| Short-term investments | US$ in thousands | 1,406,290 | 1,139,600 | 897,335 | 0 | — |
| Receivables | US$ in thousands | 445,959 | 440,896 | 333,626 | 182,165 | 145,413 |
| Total current liabilities | US$ in thousands | 532,449 | 638,219 | 439,796 | 534,043 | 199,311 |
| Quick ratio | 4.02 | 3.22 | 3.07 | 1.61 | 1.99 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($288,748K
+ $1,406,290K
+ $445,959K)
÷ $532,449K
= 4.02
The quick ratio of Enphase Energy Inc has shown a generally increasing trend over the past five years, indicating a strengthening liquidity position. As of December 31, 2023, the quick ratio stands at 4.19, reflecting a significant improvement compared to the previous years. This suggests that the company has a sufficient level of highly liquid assets to cover its current liabilities in the short term. Overall, the increasing trend in the quick ratio is a positive signal of Enphase Energy Inc's ability to meet its short-term financial obligations efficiently and indicates improved liquidity management over the years.
Peer comparison
Dec 31, 2023