Enersys (ENS)
Quick ratio
| 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 | Jul 5, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 333,324 | 332,714 | 327,751 | 258,342 | 346,665 | 298,081 | 294,423 | 383,243 | 402,488 | 397,060 | 407,506 | 406,233 | 451,808 | 488,651 | 414,232 | 384,379 | 326,979 | 272,510 | 424,846 | 262,113 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 528,849 | 498,499 | 536,501 | 566,498 | 644,795 | — | — | — | 736,104 | — | — | — | 614,506 | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 723,857 | 662,895 | 665,267 | 635,651 | 718,320 | 669,961 | 672,491 | 655,431 | 738,130 | 622,061 | 604,833 | 604,743 | 676,988 | 605,632 | 566,854 | 543,281 | 600,319 | 594,015 | 565,639 | 598,888 |
| Quick ratio | 1.19 | 1.25 | 1.30 | 1.30 | 1.38 | 0.44 | 0.44 | 0.58 | 1.54 | 0.64 | 0.67 | 0.67 | 1.58 | 0.81 | 0.73 | 0.71 | 0.54 | 0.46 | 0.75 | 0.44 |
March 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($333,324K
+ $—K
+ $528,849K)
÷ $723,857K
= 1.19
The quick ratio of Enersys indicates the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1.0 suggests that the company can cover its current liabilities with its current assets excluding inventory.
Looking at the historical trend of the quick ratio, we observed fluctuations in Enersys' liquidity position. For the most recent quarter (March 31, 2024), the quick ratio stood at 1.19, indicating that the company had $1.19 of liquid assets available to cover each dollar of current liabilities. This suggests a relatively healthy liquidity position.
In the previous quarters, Enersys' quick ratio has been above 1.0, which is generally considered favorable. However, there were instances of lower quick ratios, notably in December 2022 and September 2022, where the quick ratio was 0.44. This indicates a potential liquidity crunch and a limited ability to cover short-term obligations without relying on selling inventory.
Overall, the company has shown improvement in its liquidity position over the quarters, with the most recent ratios suggesting a better ability to meet short-term obligations. However, stakeholders should continue to monitor Enersys' quick ratio to ensure that the company maintains a healthy liquidity position for its operational needs.
Peer comparison
Mar 31, 2024