Comfort Systems USA Inc (FIX)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 205,150 | 57,214 | 58,776 | 54,896 | 50,788 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 153,871 | 4,828,480 | 3,771,900 | 3,137,950 | 2,549,310 |
| Total current liabilities | US$ in thousands | 1,721,200 | 1,170,800 | 836,554 | 692,904 | 607,997 |
| Quick ratio | 0.21 | 4.17 | 4.58 | 4.61 | 4.28 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($205,150K
+ $—K
+ $153,871K)
÷ $1,721,200K
= 0.21
The quick ratio of Comfort Systems USA, Inc. has shown a downward trend over the past five years, indicating a slight decrease in the company's ability to meet its short-term obligations using its most liquid assets. The ratio has decreased from 1.28 in 2019 to 1.07 in 2023.
While a quick ratio above 1 generally indicates that a company has an adequate level of liquid assets to cover its short-term liabilities, the decreasing trend suggests a potential decline in liquidity over the years. It is important for the company to monitor and manage its liquidity position effectively to ensure it can meet its financial obligations in a timely manner.
Peer comparison
Dec 31, 2023