Comfort Systems USA Inc (FIX)
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 | 205,150 | 137,623 | 60,007 | 48,560 | 57,214 | 71,139 | 69,129 | 115,615 | 58,776 | 67,721 | 53,659 | 52,116 | 54,896 | 70,540 | 53,253 | 133,264 | 50,788 | 40,363 | 36,787 | 29,130 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,721,200 | 1,628,990 | 1,481,480 | 1,406,660 | 1,170,800 | 1,044,000 | 968,180 | 857,199 | 836,554 | 742,262 | 721,410 | 691,688 | 692,904 | 655,343 | 681,486 | 599,625 | 607,997 | 577,732 | 527,050 | 409,843 |
| Cash ratio | 0.12 | 0.08 | 0.04 | 0.03 | 0.05 | 0.07 | 0.07 | 0.13 | 0.07 | 0.09 | 0.07 | 0.08 | 0.08 | 0.11 | 0.08 | 0.22 | 0.08 | 0.07 | 0.07 | 0.07 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($205,150K
+ $—K)
÷ $1,721,200K
= 0.12
Comfort Systems USA, Inc.'s cash ratio has shown fluctuations over the past eight quarters. The ratio, which indicates the company's ability to cover its short-term liabilities with cash and cash equivalents, ranged from 0.07 to 0.17 during this period.
In Q4 2023, the cash ratio stood at 0.15, showcasing an improvement compared to the preceding quarter where it was 0.11. Although still lower than the peak of 0.17 in Q1 2022, this indicates an enhanced ability to meet short-term obligations using its available cash resources.
The company experienced a decline in the cash ratio in Q3 2023 to 0.11, a significant drop from the previous quarter's 0.17. This could indicate potential liquidity challenges or increased short-term liabilities during that period.
Throughout the quarters in 2022, the cash ratio remained relatively stable, fluctuating between 0.09 and 0.10, indicating a consistent ability to cover short-term liabilities with available cash.
It is crucial for Comfort Systems USA, Inc. to closely monitor its cash ratio trends to ensure it maintains adequate liquidity to meet its short-term obligations efficiently and effectively.
Peer comparison
Dec 31, 2023