Granite Construction Incorporated (GVA)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 578,330 | 417,663 | 293,991 | 395,647 | 436,136 |
| Short-term investments | US$ in thousands | 148,239 | 207,096 | 223,182 | 189,911 | 188,798 |
| Total current liabilities | US$ in thousands | 1,031,960 | 1,029,880 | 797,594 | 1,069,320 | 943,256 |
| Cash ratio | 0.70 | 0.61 | 0.65 | 0.55 | 0.66 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($578,330K
+ $148,239K)
÷ $1,031,960K
= 0.70
The cash ratio of Granite Construction Incorporated has shown variations over the years based on the provided data. As of December 31, 2020, the cash ratio was 0.66, indicating that the company had $0.66 in cash for every $1 of its current liabilities. However, by December 31, 2021, the cash ratio decreased to 0.55, suggesting a lower level of liquidity compared to the previous year.
Subsequently, the cash ratio improved to 0.65 by December 31, 2022, indicating that the company had increased its cash reserves relative to its current liabilities. However, by December 31, 2023, the cash ratio dropped slightly to 0.61, which could signify potential challenges in meeting short-term obligations with available cash resources.
Notably, by December 31, 2024, the cash ratio increased to 0.70, signaling a stronger liquidity position for the company compared to the previous year. Overall, fluctuations in the cash ratio of Granite Construction Incorporated reflect changes in the company's ability to cover its short-term liabilities with its available cash resources across the specified years.
Peer comparison
Dec 31, 2024