Franklin Electric Co Inc (FELE)
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 | 84,963 | 62,507 | 53,227 | 51,873 | 45,790 | 39,523 | 33,225 | 38,581 | 40,536 | 75,952 | 81,597 | 118,331 | 130,787 | 114,480 | 43,083 | 39,987 | 64,405 | 47,805 | 40,991 | 54,364 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 222,418 | 252,315 | 299,485 | 276,503 | 230,404 | 251,543 | 278,924 | 229,736 | 196,173 | 218,175 | 226,074 | 179,439 | 159,827 | 171,843 | 183,210 | 167,590 | 173,327 | 198,052 | 220,815 | 180,584 |
| Total current liabilities | US$ in thousands | 287,039 | 327,920 | 432,677 | 486,861 | 405,769 | 461,808 | 539,527 | 491,588 | 396,014 | 401,473 | 387,005 | 200,354 | 203,704 | 187,866 | 173,896 | 191,387 | 185,764 | 257,245 | 301,356 | 284,084 |
| Quick ratio | 1.07 | 0.96 | 0.82 | 0.67 | 0.68 | 0.63 | 0.58 | 0.55 | 0.60 | 0.73 | 0.80 | 1.49 | 1.43 | 1.52 | 1.30 | 1.08 | 1.28 | 0.96 | 0.87 | 0.83 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($84,963K
+ $—K
+ $222,418K)
÷ $287,039K
= 1.07
The quick ratio of Franklin Electric Co., Inc. has shown a fluctuating trend over the past eight quarters. Starting from Q1 2022, the ratio has gradually increased, reaching its highest point of 1.20 in Q4 2023. This indicates that the company's ability to meet its short-term obligations with its most liquid assets has improved steadily over time.
Although the quick ratio dipped to 0.62 in Q1 2022, it has generally been on an upward trajectory, with occasional minor declines in between. The ratio consistently stayed above 1.00 from Q4 2022 onwards, suggesting that Franklin Electric Co., Inc. has maintained a healthy level of quick assets relative to its current liabilities during those periods.
Overall, the increasing trend in the quick ratio indicates an improved liquidity position for the company, signaling its ability to cover short-term obligations efficiently with readily available liquid assets. However, it would be advisable to monitor any significant fluctuations in the ratio to ensure continued financial stability and liquidity for Franklin Electric Co., Inc.
Peer comparison
Dec 31, 2023