Energizer Holdings Inc (ENR)

Liquidity ratios

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
Current ratio 2.03 2.12 2.16 2.34 2.30 2.28 2.12 2.16 1.53 1.52 1.70 1.74 1.72 1.34 1.64 1.42 1.81 1.91 1.88 2.14
Quick ratio 0.91 1.04 0.85 0.91 0.98 0.95 0.75 0.79 0.63 0.61 0.70 0.79 0.89 0.49 0.99 0.73 0.62 0.59 0.53 0.69
Cash ratio 0.33 0.30 0.28 0.30 0.40 0.29 0.26 0.29 0.22 0.25 0.25 0.33 0.39 0.28 0.61 0.31 0.26 0.24 0.19 0.33

The liquidity ratios of Energizer Holdings Inc show a consistent pattern of strong liquidity over the past eight quarters. The current ratio has remained above 2 for most quarters, indicating that the company has more than enough current assets to cover its short-term liabilities. The ratio peaked at 2.34 in Q2 2023, suggesting a high level of liquidity at that point.

The quick ratio, which excludes inventory from current assets, has also shown a stable liquidity position, staying above 1 in every quarter. This ratio provides a more stringent measure of liquidity as it focuses on assets that can be quickly converted into cash to meet short-term obligations.

Additionally, the cash ratio, which measures the company's ability to cover its short-term liabilities with its cash and cash equivalents, has shown a positive trend over the quarters. Although the cash ratio is lower than the current and quick ratios, it has been consistently above 0.50, indicating that Energizer Holdings Inc has a solid cash position relative to its short-term liabilities.

Overall, the liquidity ratios of Energizer Holdings Inc reflect a healthy and stable financial position, with sufficient liquid assets to meet its short-term obligations.

Additional liquidity measure

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 conversion cycle days 95.80 112.79 102.54 102.05 101.70 110.93 124.80 115.62 104.40 84.86 106.31 95.32 80.58 78.53 98.43 96.83 91.60 96.20 115.02 124.54

The cash conversion cycle of Energizer Holdings Inc has shown variations over the past eight quarters, ranging from 103.54 days to 146.56 days. The trend indicates that the company's efficiency in converting raw materials into cash has fluctuated. In Q1 2024, the company achieved a relatively efficient cash conversion cycle of 103.54 days, showing an improvement compared to the previous quarters. However, this efficiency was not sustained in Q4 2023, which had a longer cash conversion cycle of 121.11 days. The longest cycle was observed in Q3 2022, which had a cycle of 146.56 days.

Overall, managing the cash conversion cycle effectively is essential for Energizer Holdings Inc to optimize its working capital and liquidity. The company should focus on streamlining its operations to shorten the cycle, thereby improving cash flow and overall financial performance. Monitoring and analyzing this metric consistently will help the company make informed decisions to enhance its operational efficiency and financial health.