Green Plains Renewable Energy Inc (GPRE)

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	349,574	326,701	312,858	354,204	444,661	420,838	508,151	509,195	426,220	589,822	496,932	446,833	233,860	150,407	163,362	194,333	245,977	235,537	193,280	214,068
Short-term investments	US$ in thousands	—	—	—	—	0	24,989	24,966	24,942	124,859	—	—	—	3,994	73,563	—	—	—	—	—	—
Receivables	US$ in thousands	95,268	143,887	133,635	107,317	109,896	119,434	159,430	142,687	120,872	92,003	81,385	63,002	56,229	112,411	124,899	76,814	113,399	77,255	121,579	78,826
Total current liabilities	US$ in thousands	384,962	402,472	513,791	478,839	486,922	420,602	647,574	580,657	471,804	404,304	370,627	421,479	452,556	331,480	324,012	461,201	541,791	483,915	716,756	765,939
Quick ratio		1.16	1.17	0.87	0.96	1.14	1.34	1.07	1.17	1.42	1.69	1.56	1.21	0.65	1.01	0.89	0.59	0.66	0.65	0.44	0.38

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($349,574K + $—K + $95,268K) ÷ $384,962K
= 1.16

The quick ratio of Green Plains Inc has been fluctuating over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets.

In Q4 2023 and Q3 2023, the quick ratio remained stable at 1.27, indicating that the company had $1.27 in liquid assets available to cover each dollar of current liabilities. This suggests a healthy liquidity position during these periods.

However, in Q2 2023, the quick ratio decreased to 1.00, indicating a potential strain on the company's ability to meet short-term obligations with its liquid assets. This could be a cause for concern regarding liquidity management during that quarter.

In Q1 2023, the quick ratio improved slightly to 1.04 compared to Q2 2023, but it still remained below the ideal ratio of 1.5. This suggests that the company may have had some challenges in maintaining a comfortable level of liquidity during that period.

Looking back at Q4 2022, the quick ratio was 1.22, indicating a moderate liquidity position. However, in Q3 2022, the quick ratio improved significantly to 1.45, signaling a stronger ability to cover short-term obligations with liquid assets.

In Q2 2022, the quick ratio decreased to 1.19, followed by a slight increase to 1.30 in Q1 2022. These fluctuations in the quick ratio over the past eight quarters indicate varying levels of liquidity management and the company's ability to meet short-term obligations.