Haynes International Inc (HAYN)
Quick ratio
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 10,723 | 8,440 | 47,726 | 47,238 | 31,038 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 108,664 | 94,912 | 59,256 | 54,888 | 78,736 |
| Total current liabilities | US$ in thousands | 76,789 | 80,879 | 74,213 | 38,215 | 60,080 |
| Quick ratio | 1.55 | 1.28 | 1.44 | 2.67 | 1.83 |
September 30, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($10,723K
+ $—K
+ $108,664K)
÷ $76,789K
= 1.55
The quick ratio of Haynes International Inc. has shown some fluctuations over the past five years. In 2023, the quick ratio improved to 1.63 compared to 1.32 in 2022 but was lower than the 2.76 in 2020 and 1.88 in 2019. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A higher quick ratio is generally considered favorable as it indicates a stronger ability to cover short-term liabilities. However, a significant increase in the quick ratio may also suggest an inefficient use of current assets. Overall, in 2023, Haynes International Inc. exhibited an improved liquidity position compared to the previous year, which could enhance its ability to meet short-term obligations.
Peer comparison
Sep 30, 2023