Enphase Energy Inc (ENPH)
Quick 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 | 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 | — | — | — |
| Receivables | US$ in thousands | 223,749 | 232,225 | 277,475 | 364,364 | 445,959 | 560,286 | 520,306 | 516,106 | 440,896 | 367,647 | 312,451 | 358,310 | 333,626 | 273,012 | 281,154 | 236,090 | 182,165 | 122,386 | 89,504 | 95,484 |
| 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 |
| Quick ratio | 2.80 | 3.52 | 3.63 | 3.60 | 4.02 | 3.03 | 3.12 | 3.15 | 3.22 | 3.24 | 3.25 | 3.13 | 3.07 | 4.24 | 4.47 | 5.01 | 1.61 | 3.06 | 3.12 | 2.76 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($369,110K
+ $1,253,480K
+ $223,749K)
÷ $660,091K
= 2.80
The quick ratio of Enphase Energy Inc has exhibited some fluctuations over the analyzed period. The quick ratio, also known as the acid-test ratio, measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its current liabilities.
From March 31, 2020, to June 30, 2024, the quick ratio for Enphase Energy Inc has generally remained above 1, indicating a strong liquidity position. The quick ratio improved from 2.76 on March 31, 2020, to a peak of 5.01 on March 31, 2021, reflecting an increase in liquid assets relative to current liabilities during this period.
However, the quick ratio decreased from the peak in March 2021 to 2.80 on December 31, 2024. This decline may suggest a potential deterioration in Enphase Energy Inc's liquidity position, although the quick ratio remained above 1, indicating the company's ability to meet short-term obligations.
Overall, Enphase Energy Inc has maintained a relatively healthy quick ratio throughout the period, providing a favorable indication of the company's ability to cover its short-term financial commitments with its liquid assets.
Peer comparison
Dec 31, 2024