Fresh Del Monte Produce Inc (FDP)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 32,600 | 50,800 | 37,800 | 42,200 | 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 |
| Short-term investments | US$ in thousands | — | — | — | 900 | 2,100 | — | — | — | — | — | — | — | — | 3,000 | 2,000 | 1,000 | 1,000 | 1,000 | 1,000 | — |
| Receivables | US$ in thousands | 512,400 | 472,300 | 494,300 | 529,200 | 526,000 | 464,200 | 520,200 | 515,200 | 504,200 | 442,000 | — | — | 476,100 | — | — | — | 435,200 | 413,400 | 444,900 | 481,300 |
| Total current liabilities | US$ in thousands | 533,100 | 556,900 | 532,000 | 546,200 | 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 |
| Quick ratio | 1.02 | 0.94 | 1.00 | 1.05 | 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 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($32,600K
+ $—K
+ $512,400K)
÷ $533,100K
= 1.02
The quick ratio of Fresh Del Monte Produce Inc has fluctuated over the reported periods. It measures the company's ability to cover its short-term obligations with its most liquid assets, excluding inventory.
From March 31, 2020, to September 30, 2021, the quick ratio hovered around 0.85 to 0.04, indicating some variability in the company's liquidity position during this period. However, the sharp decrease in the ratio in March 31, 2021, and subsequent quarters raised concerns about the company's ability to meet its short-term obligations without relying on inventory.
The ratio showed improvement from September 30, 2021, onwards, gradually increasing to 1.05 by March 31, 2024. This indicates a strengthening liquidity position, with the company holding sufficient liquid assets to cover its short-term liabilities comfortably.
Investors and creditors may view the rising trend in the quick ratio positively, signaling improved financial health and better risk management by Fresh Del Monte Produce Inc. However, continued monitoring of the quick ratio will be essential to ensure the company maintains a strong liquidity position in the future.
Peer comparison
Dec 31, 2024