Eagle Materials Inc (EXP)
Cash 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 34,925 | 48,912 | 47,321 | 53,149 | 15,242 | 60,937 | 84,140 | 68,281 | 19,416 | 17,392 | 45,214 | 306,542 | 263,520 | 142,784 | 200,858 | 199,441 | 118,648 | 126,255 | 53,684 | 19,162 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | 77,628 | 76,369 | 18,031 | 74,914 | 74,331 | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 239,409 | 225,513 | 224,535 | 229,697 | 212,889 | 208,300 | 223,321 | 228,635 | 207,551 | 193,675 | 188,645 | 189,013 | 169,354 | 163,061 | 163,085 | 200,033 | 169,697 | 163,326 | 194,775 | 192,956 |
| Cash ratio | 0.15 | 0.22 | 0.21 | 0.23 | 0.07 | 0.29 | 0.38 | 0.30 | 0.09 | 0.09 | 0.65 | 2.03 | 1.66 | 1.34 | 1.69 | 1.00 | 0.70 | 0.77 | 0.28 | 0.10 |
March 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($34,925K
+ $—K)
÷ $239,409K
= 0.15
The cash ratio of Eagle Materials Inc has shown fluctuations over the past few quarters. The cash ratio measures the company's ability to cover its short-term liabilities with cash and cash equivalents. A higher cash ratio indicates a stronger ability to pay off its current liabilities.
Looking at the data provided, the cash ratio has varied significantly, ranging from a low of 0.07 in March 2023 to a high of 2.03 in December 2022. The ratio has shown a general upward trend from 2020 to mid-2022, indicating an improved ability to cover short-term obligations during that period.
However, there was a sharp decline in the cash ratio in the first half of 2023, with ratios below 0.3, which may indicate some challenges in meeting short-term obligations with available cash. It is worth noting that the cash ratio improved in the latter half of 2023 but remained below the levels seen in 2021 and early 2022.
Overall, the cash ratio of Eagle Materials Inc has displayed volatility, indicating fluctuations in its liquidity position. Investors and analysts may want to closely monitor this ratio in future quarters to assess the company's ability to meet its short-term obligations with available cash resources.