GATX Corporation (GATX)

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	450,700	203,100	317,500	177,400	303,700	596,300	180,300	649,300	344,300	566,000	417,900	958,900	292,200	459,800	492,900	570,700	151,000	48,600	286,600	248,400
Short-term investments	US$ in thousands	0	0	0	0	148,500	604,300	596,500	585,000	0	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	87,900	75,200	70,000	70,800	71,400	71,900	68,400	69,900	69,800	75,200	83,300	81,800	74,700	70,600	71,400	76,900	87,100	93,100	97,800	79,900
Total current liabilities	US$ in thousands	11,000	12,300	10,900	20,300	17,300	16,300	20,000	18,600	18,100	20,700	17,900	19,600	23,600	13,500	5,900	275,500	15,800	112,000	26,000	15,900
Quick ratio		48.96	22.63	35.55	12.23	30.27	78.07	42.26	70.12	22.88	30.98	28.00	53.10	15.55	39.29	95.64	2.35	15.07	1.27	14.78	20.65

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($450,700K + $0K + $87,900K) ÷ $11,000K
= 48.96

The quick ratio of GATX Corp. has fluctuated over the past eight quarters, ranging from a low of 1.74 in Q3 2023 to a high of 4.29 in Q1 2022. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.

In Q4 2023, the quick ratio stood at 2.73, showing an improvement from the previous quarter but a decline from the level seen in Q4 2022. This indicates that the company had a strong ability to meet its short-term obligations with its liquid assets in Q4 2023.

Overall, the trend in the quick ratio for GATX Corp. has been somewhat volatile, with fluctuations in the ratio reflecting changes in the company's liquidity position over time. It is important for investors and analysts to monitor this ratio closely to assess the company's ability to cover its short-term liabilities effectively.