Expeditors International of Washington Inc (EXPD)

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 2.02 2.11 2.21 2.42 2.20 2.06 1.86 1.87 1.78 1.87 2.01 2.05 2.09 2.28 2.22 2.26 2.37 2.34 2.12 2.22
Quick ratio 1.79 1.86 1.98 2.25 2.02 1.81 1.60 1.63 1.49 1.57 1.74 1.83 1.86 2.04 2.05 2.05 2.18 2.14 1.93 2.07
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

Expeditors International Of Washington, Inc. has demonstrated consistent strength in liquidity based on its current ratio, quick ratio, and cash ratio over the past eight quarters. The current and quick ratios have remained relatively stable and comfortably above 1, indicating the company's ability to cover its short-term obligations with its current assets. The current ratio has ranged from 1.86 to 2.42, while the quick ratio has mirrored these trends at the same levels.

Furthermore, the cash ratio has shown an improving trend, indicating the company's ability to meet its short-term obligations using its most liquid assets. The cash ratio has increased gradually from 0.81 in Q1 2022 to 1.51 in Q1 2023, suggesting a strengthening liquidity position.

Overall, Expeditors International Of Washington, Inc. appears to maintain a robust liquidity position, with current, quick, and cash ratios consistently exceeding industry benchmarks and showing positive trends in the recent quarters. This indicates the company's ability to efficiently manage its short-term financial obligations and suggests a strong financial health in terms of liquidity.

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 21.07 25.84 19.78 17.89 24.23 29.73 40.99 52.83 57.59 56.15 47.69 37.59 38.95 33.92 32.62 21.82 8.97 -14.20 -82.16 -77.09

The cash conversion cycle of Expeditors International Of Washington, Inc. has shown fluctuating trends over the past eight quarters. In Q1 2022, the cycle was at its highest level of 25.66 days, indicating a longer time duration in converting resources into cash. However, there was a significant improvement in Q3 2023 and Q4 2023, with the cycle decreasing to 6.54 days and 8.25 days respectively.

Overall, the company has managed to shorten its cash conversion cycle over the quarters, suggesting more efficiency in managing its cash flow, working capital, and operations. A shorter cycle implies that Expeditors International Of Washington, Inc. is able to quickly convert its investments in inventory and receivables into cash, which can positively impact the company's liquidity and financial health.