Expeditors International of Washington Inc (EXPD)

Quick 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	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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	1,532,600	1,458,980	1,423,620	1,604,470	2,107,640	2,748,320	3,469,830	3,934,860	3,810,290	3,330,400	2,647,520	2,227,040	1,998,060	1,582,420	1,460,320	1,268,800	1,315,090	1,319,030	1,382,070	1,353,720
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
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

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,512,880K + $—K + $1,532,600K) ÷ $1,704,410K
= 1.79

Expeditors International Of Washington, Inc.'s quick ratio, which measures the company's ability to meet its short-term obligations with its most liquid assets, has shown fluctuations over the past eight quarters. The quick ratio has generally been above 1, indicating a strong ability to cover short-term liabilities with liquid assets.

The quick ratio saw a declining trend from Q1 2022 to Q2 2022, reaching a low of 1.86. However, it picked up from Q2 2022 onwards, reaching a peak of 2.42 in Q1 2023. This suggests an improvement in the company's liquidity position in the recent quarters.

Overall, Expeditors International Of Washington, Inc.'s quick ratio has been in a healthy range above 1, indicating that the company has sufficient liquid assets to cover its short-term liabilities. The increasing trend in the quick ratio from Q2 2022 to Q1 2023 reflects positively on the company's liquidity management during the period under review.