Comfort Systems USA Inc (FIX)
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 | 549,939 | 415,583 | 199,419 | 100,792 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 2,582,770 | 2,429,140 | 2,334,950 | 2,139,660 | 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 |
| Quick ratio | 0.21 | 0.17 | 0.09 | 0.05 | 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 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($549,939K
+ $—K
+ $—K)
÷ $2,582,770K
= 0.21
The quick ratio of Comfort Systems USA Inc has fluctuated over the period from March 31, 2020, to December 31, 2024. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. It is calculated by dividing the sum of cash, cash equivalents, and accounts receivable by current liabilities.
The quick ratio started at a relatively low level of 0.22 on March 31, 2020, indicating a weaker liquidity position. Over the next few quarters, there were fluctuations in the quick ratio, with the lowest ratio observed on June 30, 2020, at 0.08. This implies the company had limited liquid assets to cover its short-term liabilities during that period.
Although the quick ratio improved slightly in some quarters, such as on March 31, 2022, and December 31, 2024, when it reached 0.13 and 0.21 respectively, the ratio remained below 1 for most of the periods. A quick ratio below 1 suggests that the company may have difficulty meeting its short-term obligations with its current liquid assets alone.
It is important for investors and analysts to closely monitor fluctuations in the quick ratio over time to assess the company's liquidity position and ability to cover its short-term liabilities. A consistently low quick ratio may raise concerns about the company's financial health and its ability to weather unexpected financial challenges.
Peer comparison
Dec 31, 2024