Flowserve Corporation (FLS)
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 | 545,678 | 480,458 | 422,837 | 404,726 | 434,971 | 351,870 | 458,345 | 575,795 | 658,452 | 1,457,270 | 630,397 | 659,305 | 1,095,270 | 921,178 | 561,705 | 622,299 | 670,980 | 547,270 | 596,470 | 637,710 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 895,928 | 868,855 | 887,867 | 904,184 | 884,663 | 770,152 | 735,895 | 730,201 | 763,404 | 710,782 | 729,551 | 730,481 | 757,745 | 750,897 | 759,381 | 732,879 | 795,538 | 789,448 | 806,724 | 781,382 |
| Total current liabilities | US$ in thousands | 1,438,580 | 1,306,820 | 1,292,090 | 1,321,720 | 1,243,150 | 1,091,690 | 1,091,720 | 1,147,610 | 1,131,800 | 1,908,880 | 1,069,720 | 1,083,730 | 1,141,630 | 1,093,580 | 1,090,360 | 1,106,030 | 1,117,440 | 1,048,200 | 1,058,870 | 1,121,430 |
| Quick ratio | 1.00 | 1.03 | 1.01 | 0.99 | 1.06 | 1.03 | 1.09 | 1.14 | 1.26 | 1.14 | 1.27 | 1.28 | 1.62 | 1.53 | 1.21 | 1.23 | 1.31 | 1.28 | 1.33 | 1.27 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($545,678K
+ $—K
+ $895,928K)
÷ $1,438,580K
= 1.00
The quick ratio of Flowserve Corp. has been relatively stable over the past eight quarters, ranging between 1.26 to 1.44. The quick ratio measures the company's ability to meet short-term obligations with its most liquid assets, excluding inventory.
The quick ratio above 1 indicates that Flowserve Corp. has sufficient liquid assets to cover its short-term liabilities. A quick ratio of 1.27 in Q4 2023 suggests that for every dollar of current liabilities, the company has $1.27 of quick assets available. This indicates a healthy liquidity position, as it demonstrates the company's ability to meet its short-term obligations without relying heavily on selling inventory.
Overall, the trend of the quick ratio for Flowserve Corp. over the past quarters indicates a consistent ability to manage short-term liquidity effectively. However, it is important to consider other factors alongside this ratio to have a comprehensive understanding of the company's financial health.
Peer comparison
Dec 31, 2023