Gates Industrial Corporation plc (GTES)
Quick ratio
| 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 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 579,700 | 522,200 | 720,600 | 556,800 | 565,000 | 594,900 | 578,400 | 395,300 | 393,200 | 406,800 | 658,200 | 540,600 | 473,300 | 447,400 | 521,400 | 672,300 | 639,700 | 626,300 | 635,300 | 456,100 |
| Short-term investments | US$ in thousands | 32,300 | 32,400 | 27,000 | 39,500 | 38,400 | 31,100 | 33,300 | 26,000 | 15,100 | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 862,400 | 841,900 | 798,600 | 871,900 | 914,600 | — | 821,600 | — | — | — | 727,200 | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 763,400 | 747,900 | 779,300 | 780,400 | 798,200 | 738,200 | 752,300 | 746,700 | 771,500 | 788,500 | 855,900 | 842,400 | 840,800 | 756,600 | 726,300 | 653,900 | 629,300 | 667,700 | 658,100 | 583,200 |
| Quick ratio | 1.93 | 1.87 | 1.98 | 1.88 | 1.90 | 0.85 | 1.91 | 0.56 | 0.53 | 0.52 | 1.62 | 0.64 | 0.56 | 0.59 | 0.72 | 1.03 | 1.02 | 0.94 | 0.97 | 0.78 |
June 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($579,700K
+ $32,300K
+ $862,400K)
÷ $763,400K
= 1.93
The quick ratio of Gates Industrial Corporation plc has exhibited fluctuations over the periods indicated. The quick ratio measures the company's ability to meet its short-term liabilities with its most liquid assets. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its current liabilities.
From the data provided:
- In the latest period, as of June 30, 2024, the quick ratio stood at 1.93, indicating a strong ability to cover short-term obligations with liquid assets.
- Over the past quarters, the quick ratio has generally been above 1, reflecting a consistent ability to meet short-term obligations with ease.
- However, there were periods of lower quick ratios, such as in March 2023 and September 2022, where the ratios fell significantly below 1. This may suggest a potential liquidity risk during those periods.
Overall, the trend in the quick ratio suggests that Gates Industrial Corporation plc has maintained a relatively stable liquidity position, with periods of both strength and potential vulnerability. Monitoring this ratio over time can provide valuable insights into the company's liquidity management and financial health.
Peer comparison
Jun 30, 2024