Golden Entertainment Inc (GDEN)
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 | 157,550 | 261,161 | 120,823 | 110,474 | 136,889 | 170,486 | 179,163 | 202,283 | 220,540 | 219,284 | 152,522 | 145,442 | 103,558 | 100,432 | 86,159 | 301,768 | 111,678 | 123,829 | 116,689 | 108,259 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 16,951 | 16,720 | 12,616 | 15,097 | 20,495 | 20,951 | 18,559 | 20,535 | 18,720 | 20,773 | 80,613 | 15,087 | 13,708 | 13,317 | 13,763 | 11,979 | 16,247 | 13,940 | 15,348 | 16,129 |
| Total current liabilities | US$ in thousands | 174,376 | 204,491 | 149,623 | 161,896 | 132,702 | 139,084 | 119,364 | 134,705 | 126,966 | 139,803 | 132,947 | 141,866 | 118,713 | 131,740 | 128,424 | 132,370 | 132,764 | 125,289 | 122,778 | 124,032 |
| Quick ratio | 1.00 | 1.36 | 0.89 | 0.78 | 1.19 | 1.38 | 1.66 | 1.65 | 1.88 | 1.72 | 1.75 | 1.13 | 0.99 | 0.86 | 0.78 | 2.37 | 0.96 | 1.10 | 1.08 | 1.00 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($157,550K
+ $—K
+ $16,951K)
÷ $174,376K
= 1.00
The quick ratio of Golden Entertainment Inc has shown fluctuations over the past eight quarters. The quick ratio, calculated as current assets minus inventory divided by current liabilities, is used to assess a company's ability to meet its short-term obligations.
In Q1 2022, the quick ratio was relatively high at 1.86, indicating a strong ability to cover current liabilities with highly liquid assets excluding inventory. However, there was a downward trend in the quick ratio over the next three quarters, reaching a low of 0.96 in Q1 2023. This may raise concerns about the company's liquidity and ability to pay off immediate obligations.
Subsequently, there was an improvement in the quick ratio in Q2 and Q3 2023, reaching 1.02 and 1.45 respectively, suggesting a recovery in liquidity. However, in Q4 2023, the quick ratio decreased to 1.13, indicating a slight decline in the company's ability to cover short-term liabilities using quick assets.
Overall, while the quick ratio of Golden Entertainment Inc has experienced fluctuations, it remained mostly above 1, indicating a generally adequate level of liquidity to meet short-term obligations. However, management should continue to monitor the quick ratio closely to ensure consistent liquidity management and financial stability.
Peer comparison
Dec 31, 2023