Griffon Corporation (GFF)
Cash ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 114,438 | 133,452 | 123,030 | 110,546 | 102,889 | 151,790 | 175,592 | 120,558 | 120,184 | 144,687 | 122,293 | 151,220 | 248,653 | 220,697 | 175,564 | 233,807 | 218,089 | 71,999 | 69,024 | 64,792 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | 67 | 62 | 525 | 995 | 15,442 | 16,044 | 1,000 | 2,088 | 2,033 | 1,703 | 3,028 | 2,605 | 2,835 |
| Total current liabilities | US$ in thousands | 348,990 | 386,708 | 361,737 | 391,679 | 359,149 | 382,303 | 381,653 | 390,859 | 423,579 | 594,637 | 583,269 | 512,838 | 531,636 | 466,477 | 458,575 | 446,798 | 441,822 | 436,171 | 387,120 | 388,511 |
| Cash ratio | 0.33 | 0.35 | 0.34 | 0.28 | 0.29 | 0.40 | 0.46 | 0.31 | 0.28 | 0.24 | 0.21 | 0.32 | 0.50 | 0.48 | 0.39 | 0.53 | 0.50 | 0.17 | 0.19 | 0.17 |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($114,438K
+ $—K)
÷ $348,990K
= 0.33
The cash ratio of Griffon Corporation has shown some fluctuations over the past few years. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.
In the recent period, the cash ratio has been relatively stable, with values ranging between 0.28 and 0.35. This indicates that Griffon Corporation has generally maintained a sufficient level of cash to cover its short-term obligations.
It is worth noting that the cash ratio saw a significant increase in the March 2023 quarter, reaching 0.46, which suggests a stronger liquidity position at that time. However, the ratio decreased in the subsequent quarters, indicating a potential decrease in the company's ability to pay off its short-term liabilities solely with cash and cash equivalents.
Overall, Griffon Corporation's cash ratio provides insight into its liquidity position and ability to meet its short-term obligations. Monitoring this ratio over time can help assess the company's financial health and liquidity management strategies.