Comfort Systems USA Inc (FIX)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 153,871 | 201,248 | 49,220 | 31,676 | 4,828,480 | 72,866 | 60,914 | 64,485 | 3,771,900 | 22,368 | 29,318 | 29,614 | 3,137,950 | 36,107 | 20,892 | 17,908 | 2,549,310 | 18,950 | 19,967 | 7,846 |
| 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 |
| Quick ratio | 0.21 | 0.21 | 0.07 | 0.06 | 4.17 | 0.14 | 0.13 | 0.21 | 4.58 | 0.12 | 0.12 | 0.12 | 4.61 | 0.16 | 0.11 | 0.25 | 4.28 | 0.10 | 0.11 | 0.09 |
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 some fluctuations over the past eight quarters. The quick ratio indicates the company's ability to meet its short-term obligations with its most liquid assets.
In the most recent quarter, Q4 2023, the quick ratio was 1.07, which suggests that the company had $1.07 of liquid assets available to cover each $1 of current liabilities. This indicates a relatively stable liquidity position.
Comparing this to previous quarters, the quick ratio has generally been above 1, indicating a healthy liquidity position. However, in Q2 2023, the quick ratio dropped to 0.98, signaling a potential risk in meeting short-term obligations.
Overall, it is important to monitor the trend of the quick ratio over time to assess the company's ability to manage its short-term liquidity effectively and ensure it can meet its financial obligations without issues.
Peer comparison
Dec 31, 2023