Fastenal Company (FAST)
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 | 221,300 | 297,500 | 243,600 | 239,800 | 230,100 | 231,500 | 247,900 | 234,200 | 236,200 | 250,500 | 321,800 | 333,900 | 245,700 | 331,800 | 201,500 | 160,700 | 174,900 | 191,200 | 175,000 | 185,400 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,087,600 | 1,171,000 | 1,171,600 | 1,149,800 | 1,013,200 | 1,110,600 | 1,103,900 | 1,071,600 | 900,200 | 949,400 | 908,900 | 851,000 | 769,400 | 834,500 | 881,500 | 833,900 | 741,800 | 817,300 | 819,800 | 793,000 |
| Total current liabilities | US$ in thousands | 661,300 | 667,900 | 736,600 | 863,200 | 789,800 | 802,600 | 849,000 | 745,500 | 682,200 | 662,500 | 650,200 | 661,200 | 612,700 | 603,000 | 631,300 | 580,400 | 544,700 | 555,100 | 527,900 | 554,600 |
| Quick ratio | 1.98 | 2.20 | 1.92 | 1.61 | 1.57 | 1.67 | 1.59 | 1.75 | 1.67 | 1.81 | 1.89 | 1.79 | 1.66 | 1.93 | 1.72 | 1.71 | 1.68 | 1.82 | 1.88 | 1.76 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($221,300K
+ $—K
+ $1,087,600K)
÷ $661,300K
= 1.98
The quick ratio of Fastenal Co. has shown consistent strength in recent quarters, indicating a healthy liquidity position. The quick ratio has ranged from 1.75 to 2.45 over the past eight quarters, with the highest being in Q3 2023 and the lowest in Q1 2023. This suggests that Fastenal Co. has a comfortable ability to cover its short-term liabilities with its most liquid assets.
Overall, the trend in the quick ratio demonstrates that Fastenal Co. has been effectively managing its short-term liquidity and is in a strong position to meet its current obligations. The company's ability to maintain a quick ratio consistently above 1.5 indicates a solid financial standing and ability to handle unexpected expenses or economic downturns.
Peer comparison
Dec 31, 2023