ESCO Technologies Inc (ESE)
Cash ratio
| 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 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 65,963 | 63,042 | 59,436 | 51,396 | 41,866 | 56,052 | 48,221 | 51,900 | 97,724 | 61,019 | 54,324 | 55,700 | 56,232 | 78,359 | 45,700 | 57,362 | 52,560 | 104,739 | 100,195 | 96,692 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 349,854 | 311,207 | 288,930 | 304,693 | 314,651 | 308,951 | 297,055 | 292,760 | 318,129 | 292,095 | 277,795 | 265,874 | 274,995 | 253,392 | 246,583 | 254,623 | 255,484 | 242,415 | 251,029 | 252,030 |
| Cash ratio | 0.19 | 0.20 | 0.21 | 0.17 | 0.13 | 0.18 | 0.16 | 0.18 | 0.31 | 0.21 | 0.20 | 0.21 | 0.20 | 0.31 | 0.19 | 0.23 | 0.21 | 0.43 | 0.40 | 0.38 |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($65,963K
+ $—K)
÷ $349,854K
= 0.19
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. ESCO Technologies Inc's cash ratio has fluctuated over the past eight quarters, ranging from 0.13 to 0.43.
In recent quarters, the cash ratio has shown some variability but generally remained within a moderate range, indicating that ESCO Technologies Inc has a reasonable level of liquidity to meet its short-term obligations. The cash ratio was lowest at 0.13 in September 2023 and highest at 0.43 in March 2020.
The upward trend in the cash ratio from the low of 0.13 in September 2023 to 0.31 in September 2022, followed by a slight decline, suggests that the company improved its liquidity position but then experienced a small decrease in its ability to cover short-term liabilities with cash.
Overall, ESCO Technologies Inc's cash ratio indicates that the company has maintained a satisfactory level of liquidity, though fluctuations in the ratio over time may require further examination to understand the reasons behind the changes.
Peer comparison
Sep 30, 2024