Forward Air Corporation (FWRD)

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	121,969	18,843	18,281	32,028	45,822	46,846	47,386	61,630	37,316	51,930	50,844	24,396	40,254	42,990	80,916	77,245	64,749	34,824	14,777	42,165
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	158,675	191,758	175,968	201,385	221,028	247,730	246,110	236,666	216,182	205,165	209,187	186,504	156,490	153,070	130,759	143,234	150,197	157,494	154,715	150,623
Total current liabilities	US$ in thousands	237,094	190,441	169,226	165,770	169,398	179,559	167,460	187,944	164,692	158,466	169,271	169,133	171,620	157,133	146,852	143,328	137,164	139,775	136,635	116,646
Quick ratio		1.18	1.11	1.15	1.41	1.58	1.64	1.75	1.59	1.54	1.62	1.54	1.25	1.15	1.25	1.44	1.54	1.57	1.38	1.24	1.65

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($121,969K + $—K + $158,675K) ÷ $237,094K
= 1.18

The quick ratio of Forward Air Corporation has shown some fluctuations over the past few quarters. The quick ratio is a measure of a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its short-term liabilities.

Looking at the trend, the quick ratio has generally been above 1, which is a positive sign. However, there have been some fluctuations in the quick ratio over the quarters, ranging from a high of 1.75 to a low of 1.11. These fluctuations could indicate changes in the company's liquidity position and its ability to meet short-term obligations.

In the most recent quarter, the quick ratio was 1.18, indicating that the company had $1.18 in liquid assets available to cover $1 of current liabilities. This suggests that the company has a good ability to meet its short-term obligations.

It is important for stakeholders to continue monitoring the quick ratio and the underlying factors impacting liquidity to ensure the company remains financially stable and can meet its obligations in the short term.