Flowers Foods Inc (FLO)
Quick ratio
| Dec 31, 2023 | Oct 7, 2023 | Jul 15, 2023 | Apr 22, 2023 | Dec 31, 2022 | Oct 8, 2022 | Apr 23, 2022 | Dec 31, 2021 | Oct 9, 2021 | Jul 17, 2021 | Apr 24, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jul 11, 2020 | Apr 18, 2020 | Dec 31, 2019 | Oct 5, 2019 | Jul 13, 2019 | Apr 20, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 22,527 | 14,561 | 11,711 | 27,720 | 165,134 | 172,744 | 205,147 | 185,871 | 307,523 | 292,270 | 250,570 | 307,476 | 325,831 | 299,562 | 252,683 | 11,044 | 6,968 | 9,769 | 11,584 | 25,306 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 345,608 | 377,141 | 439,308 | 375,674 | 349,477 | — | 338,097 | 318,197 | — | — | 298,259 | 302,212 | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 659,152 | 669,859 | 555,457 | 542,119 | 564,425 | 594,531 | 538,024 | 519,917 | 536,591 | 509,767 | 461,206 | 504,105 | 516,283 | 538,076 | 504,914 | 528,143 | 521,942 | 494,945 | 495,145 | 400,339 |
| Quick ratio | 0.56 | 0.58 | 0.81 | 0.74 | 0.91 | 0.29 | 1.01 | 0.97 | 0.57 | 0.57 | 1.19 | 1.21 | 0.63 | 0.56 | 0.50 | 0.02 | 0.01 | 0.02 | 0.02 | 0.06 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($22,527K
+ $—K
+ $345,608K)
÷ $659,152K
= 0.56
The quick ratio of Flowers Foods Inc has exhibited fluctuations over the past five years, ranging from a low of 0.01 to a high of 1.21. The quick ratio was relatively stable from 2018 to early 2022, with values typically above 0.5 indicating a satisfactory ability to meet short-term obligations with liquid assets. Notably, in April 2022, the quick ratio spiked to 1.01, signaling a strong ability to cover current liabilities with highly liquid assets.
However, in late 2022 and the subsequent quarters of 2023, the quick ratio declined significantly, hitting a low of 0.29 in October 2022. This decrease may suggest a potential decrease in the company's liquidity position and its ability to meet short-term obligations without relying on the sale of inventory. The quick ratio improved slightly in the most recent quarters but has not yet returned to the levels seen before the decline.
Overall, the trend in Flowers Foods Inc's quick ratio shows fluctuations and highlights the importance of monitoring liquidity to ensure the company can meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023