Expeditors International of Washington Inc (EXPD)

Cash 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 and cash equivalents	US$ in thousands	1,512,880	1,639,430	1,698,590	2,350,790	2,034,130	2,154,530	1,976,970	2,139,630	1,728,690	1,820,110	1,674,120	1,793,390	1,527,790	1,465,510	1,180,460	1,111,970	1,230,490	1,215,970	1,082,650	1,189,430
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	1,704,410	1,667,040	1,579,110	1,760,060	2,054,060	2,706,250	3,411,070	3,721,970	3,726,300	3,275,480	2,485,230	2,195,020	1,893,040	1,496,710	1,288,070	1,159,180	1,168,320	1,183,590	1,278,820	1,227,930
Cash ratio		0.89	0.98	1.08	1.34	0.99	0.80	0.58	0.57	0.46	0.56	0.67	0.82	0.81	0.98	0.92	0.96	1.05	1.03	0.85	0.97

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,512,880K + $—K) ÷ $1,704,410K
= 0.89

The cash ratio of Expeditors International Of Washington, Inc. has shown fluctuations over the past eight quarters. In Q1 2022, the cash ratio was at 0.81, indicating that the company had $0.81 in cash and cash equivalents for every $1 of current liabilities.

From Q1 2022 to Q2 2023, the cash ratio steadily increased, reaching a peak of 1.51 in Q1 2023. This indicates an improvement in the company's liquidity position, with more cash available to cover its short-term obligations.

The company's cash ratio has been above 1 for the past six quarters, which suggests that Expeditors International Of Washington, Inc. has had more than enough cash on hand to cover its current liabilities during this period.

Overall, the trend in the cash ratio shows that the company has been managing its liquidity well and has maintained a solid cash position relative to its short-term obligations over the past two years.