Haynes International Inc (HAYN)
Cash ratio
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 10,723 | 8,440 | 47,726 | 47,238 | 31,038 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 76,789 | 80,879 | 74,213 | 38,215 | 60,080 |
| Cash ratio | 0.14 | 0.10 | 0.64 | 1.24 | 0.52 |
September 30, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($10,723K
+ $—K)
÷ $76,789K
= 0.14
The cash ratio of Haynes International Inc. has displayed fluctuating trends over the past five years. As of September 30, 2023, the cash ratio stands at 0.21, indicating that the company holds $0.21 in cash and cash equivalents for every $1 of current liabilities. This reflects a slight improvement from the previous year's ratio of 0.15.
Going back to September 30, 2021, there was a significant decline in the cash ratio to 0.73, followed by a more substantial decrease to 1.32 as of September 30, 2020. The cash ratio then experienced a decline to 0.57 in the fiscal year ending September 30, 2019.
The declining trend in the cash ratio from 2019 to 2021 may indicate potential liquidity concerns or a shift in the company's cash management strategies. However, the subsequent increase in the cash ratio in 2022 and 2023 suggests an improvement in the company's ability to cover its short-term obligations with available cash and cash equivalents.
Overall, the fluctuating cash ratio of Haynes International Inc. warrants further investigation into the company's cash management and liquidity position to assess its ability to meet short-term financial obligations.
Peer comparison
Sep 30, 2023