Fresh Del Monte Produce Inc (FDP)
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 | 33,800 | 77,900 | 43,800 | 35,700 | 17,200 | 27,900 | 15,600 | 25,300 | 16,100 | 19,000 | 19,600 | 26,400 | 16,500 | 14,000 | 31,500 | 20,700 | 33,300 | 16,300 | 16,200 | 21,900 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 3,000 | 2,000 | 1,000 | 1,000 | 1,000 | 1,000 | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 540,600 | 577,700 | 598,200 | 603,000 | 607,000 | 634,700 | 663,000 | 676,300 | 629,200 | 588,600 | 563,300 | 598,700 | 554,800 | 549,200 | 551,500 | 592,800 | 562,900 | 538,800 | 1,200,400 | 620,700 |
| Cash ratio | 0.06 | 0.13 | 0.07 | 0.06 | 0.03 | 0.04 | 0.02 | 0.04 | 0.03 | 0.04 | 0.04 | 0.05 | 0.03 | 0.03 | 0.06 | 0.03 | 0.06 | 0.03 | 0.01 | 0.04 |
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 fluctuated over the past few years, ranging from a low of 0.01 to a high of 0.13. The cash ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations without relying on external sources of funding.
Fresh Del Monte's cash ratio has generally been low, with values mostly below 0.05, suggesting that the company may have limited cash reserves relative to its short-term obligations. However, it is important to consider the industry norms and the company's specific operating and financial characteristics when evaluating the adequacy of its cash position.
Overall, the trend in Fresh Del Monte's cash ratio indicates a moderate level of liquidity, which may require close monitoring to ensure the company can meet its short-term financial commitments effectively.
Peer comparison
Dec 31, 2023