Fresh Del Monte Produce Inc (FDP)
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 | 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 | — | — | — | — | — |
| Receivables | US$ in thousands | 526,000 | 464,200 | 520,200 | 515,200 | 504,200 | 442,000 | — | — | 476,100 | — | — | — | 435,200 | 413,400 | 444,900 | 481,300 | 467,900 | 446,300 | 496,200 | 519,300 |
| 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 |
| Quick ratio | 1.04 | 0.94 | 0.94 | 0.91 | 0.86 | 0.74 | 0.02 | 0.04 | 0.78 | 0.04 | 0.04 | 0.05 | 0.82 | 0.78 | 0.87 | 0.85 | 0.89 | 0.86 | 0.43 | 0.87 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($33,800K
+ $—K
+ $526,000K)
÷ $540,600K
= 1.04
The quick ratio of Fresh Del Monte Produce Inc has fluctuated over the past few quarters, ranging from 0.02 to 1.04. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
The quick ratio was consistently low in the first two quarters of 2022, indicating potential liquidity issues. However, there was a significant improvement in the quick ratio in the following quarters, reaching 1.04 by the end of 2023.
Overall, the trend in the quick ratio shows variability, with some quarters showing stronger liquidity positions compared to others. It is important for Fresh Del Monte Produce Inc to maintain a healthy quick ratio to ensure it can easily cover its short-term liabilities.
Peer comparison
Dec 31, 2023