Frontdoor Inc (FTDR)
Cash 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 325,000 | 320,000 | 344,000 | 337,000 | 292,000 | 244,000 | 269,000 | 255,000 | 262,000 | 309,000 | 323,000 | 538,000 | 597,000 | 551,000 | 545,000 | 482,000 | 428,000 | 425,000 | 420,000 |
| Short-term investments | US$ in thousands | — | 8,000 | 8,000 | 5,000 | 6,000 | 4,000 | — | — | — | — | — | — | — | 0 | 2,000 | 2,000 | 7,000 | 7,000 | 5,000 |
| Total current liabilities | US$ in thousands | 331,000 | 364,000 | 365,000 | 396,000 | 364,000 | 391,000 | 404,000 | 402,000 | 378,000 | 394,000 | 424,000 | 439,000 | 403,000 | 412,000 | 416,000 | 398,000 | 364,000 | 373,000 | 396,000 |
| Cash ratio | 0.98 | 0.90 | 0.96 | 0.86 | 0.82 | 0.63 | 0.67 | 0.63 | 0.69 | 0.78 | 0.76 | 1.23 | 1.48 | 1.34 | 1.31 | 1.22 | 1.20 | 1.16 | 1.07 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($325,000K
+ $—K)
÷ $331,000K
= 0.98
Frontdoor Inc.'s cash ratio has shown a positive trend over the past eight quarters, indicating the company's improving ability to cover its short-term liabilities with its available cash. The cash ratio increased from 0.69 in Q1 2022 to 1.08 in Q4 2023, reaching its highest level in the last quarter. This suggests that the company has a sufficient amount of cash on hand to meet its current obligations, which is a positive sign for investors and creditors. Overall, Frontdoor Inc.'s increasing cash ratio reflects a strong liquidity position and financial stability.
Peer comparison
Dec 31, 2023