Enphase Energy Inc (ENPH)

Quick 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	US$ in thousands	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	251,409	203,046	205,959	78,087
Short-term investments	US$ in thousands	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	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	145,413	133,689	97,537	81,715
Total current liabilities	US$ in thousands	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	199,311	146,819	143,613	128,746
Quick ratio		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	1.99	2.29	2.11	1.24

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 consistently strong performance over the quarters analyzed. The quick ratio has ranged from 3.13 to 4.19, indicating the company's ability to meet its short-term obligations with its most liquid assets.

The trend shows that Enphase Energy Inc has maintained a comfortable level of liquidity throughout the periods reported, with the quick ratio staying above 3 for all quarters. This suggests that the company has a sufficient amount of current assets, excluding inventory, to cover its current liabilities, providing a buffer for potential short-term cash needs.

Overall, the quick ratio analysis demonstrates Enphase Energy Inc's robust liquidity position and ability to manage its short-term financial obligations effectively.