Haynes International Inc (HAYN)
Cash 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 and cash equivalents | US$ in thousands | 14,023 | 10,723 | 12,931 | 16,859 | 11,527 | 8,440 | 9,438 | 12,202 | 14,262 | 47,726 | 74,164 | 69,820 | 61,263 | 47,238 | 65,466 | 52,406 | 33,619 | 31,038 | 22,045 | 10,780 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 70,008 | 76,789 | 79,695 | 75,861 | 88,919 | 80,879 | 138,613 | 95,884 | 64,024 | 74,213 | 56,543 | 46,450 | 38,377 | 38,215 | 74,725 | 82,940 | 65,043 | 60,080 | 67,472 | 66,380 |
| Cash ratio | 0.20 | 0.14 | 0.16 | 0.22 | 0.13 | 0.10 | 0.07 | 0.13 | 0.22 | 0.64 | 1.31 | 1.50 | 1.60 | 1.24 | 0.88 | 0.63 | 0.52 | 0.52 | 0.33 | 0.16 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($14,023K
+ $—K)
÷ $70,008K
= 0.20
Haynes International Inc.'s cash ratio, which is a measure of the company's ability to cover its short-term liabilities with its cash and cash equivalents, has shown some fluctuations over the past eight quarters.
In Q1 2024, the cash ratio was reported at 0.29, indicating that the company had $0.29 in cash and cash equivalents for every $1 of current liabilities. This marks an improvement compared to the previous quarter where the cash ratio was 0.21.
Looking back over the last two years, the cash ratio has generally been increasing, with occasional fluctuations. In Q2 2022, the cash ratio was 0.18, which was on par with the Q4 2022 figure. However, there was a notable increase in Q1 2023 when the cash ratio improved to 0.18, up from 0.10 in Q3 2022.
Overall, an increasing trend in the cash ratio indicates that Haynes International Inc. has been building up its cash reserves relative to its short-term obligations, which is a positive sign for the company's liquidity position. However, it is important to monitor future performance to ensure that the company maintains a comfortable level of liquidity to meet its financial obligations in a timely manner.
Peer comparison
Dec 31, 2023