Fresh Del Monte Produce Inc (FDP)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 33,800 | 17,200 | 16,100 | 16,500 | 33,300 |
| Short-term investments | US$ in thousands | — | — | — | 1,000 | — |
| Total current liabilities | US$ in thousands | 540,600 | 607,000 | 629,200 | 554,800 | 562,900 |
| Cash ratio | 0.06 | 0.03 | 0.03 | 0.03 | 0.06 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($33,800K
+ $—K)
÷ $540,600K
= 0.06
The cash ratio of Fresh Del Monte Produce Inc has shown some fluctuation over the past five years. In 2023, the cash ratio increased to 0.06 from 0.03 in 2022, indicating an improvement in the company's ability to cover its short-term liabilities with cash on hand. However, in 2021 and 2020, the cash ratio remained steady at 0.03. The cash ratio was higher at 0.06 in 2019, suggesting that the company had a relatively stronger position in terms of cash availability compared to the recent years. Overall, it is important for the company to maintain a healthy cash ratio to ensure sufficient liquidity to meet its short-term obligations.
Peer comparison
Dec 31, 2023