Granite Construction Incorporated (GVA)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | 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 |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,031,960 | 1,029,880 | 797,594 | 1,069,320 | 943,256 |
| Quick ratio | 0.70 | 0.61 | 0.65 | 0.55 | 0.66 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($578,330K
+ $148,239K
+ $—K)
÷ $1,031,960K
= 0.70
Granite Construction Incorporated's quick ratio, which measures the company's ability to meet its short-term obligations with its most liquid assets, has shown some fluctuations over the past five years.
As of December 31, 2020, the quick ratio stood at 0.66, indicating that the company had $0.66 in quick assets for every $1 of current liabilities. By December 31, 2021, the quick ratio decreased to 0.55, suggesting a potential decrease in the company's ability to cover its short-term debts. However, by December 31, 2022, the quick ratio improved to 0.65, showing a better liquidity position than the previous year.
Moving on to December 31, 2023, the quick ratio declined slightly to 0.61, indicating a decrease in the company's ability to meet short-term obligations with liquid assets. Finally, as of December 31, 2024, the quick ratio increased to 0.70, signaling an improvement in Granite Construction Incorporated's liquidity position.
Overall, the trend in Granite Construction Incorporated's quick ratio shows some variability over the past five years, with fluctuations that may require further analysis to understand the factors driving these changes in liquidity.
Peer comparison
Dec 31, 2024