Haynes International Inc (HAYN)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 97,720 | 108,664 | 91,182 | 101,881 | 92,139 | 94,912 | 79,574 | 77,352 | 58,506 | 59,256 | 53,124 | 49,162 | 44,601 | 54,888 | 57,356 | 66,347 | 66,491 | 78,736 | 80,090 | 83,539 |
| 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 |
| Quick ratio | 1.60 | 1.55 | 1.31 | 1.57 | 1.17 | 1.28 | 0.64 | 0.93 | 1.14 | 1.44 | 2.25 | 2.56 | 2.76 | 2.67 | 1.64 | 1.43 | 1.54 | 1.83 | 1.51 | 1.42 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($14,023K
+ $—K
+ $97,720K)
÷ $70,008K
= 1.60
The quick ratio of Haynes International Inc. has shown fluctuation over the past eight quarters. The ratio indicates the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 suggests that the company has an adequate level of quick assets to cover its current liabilities.
In Q1 2024, the quick ratio stands at 1.69, indicating a strong liquidity position compared to the previous quarters. This may suggest that the company has ample liquid assets to cover its short-term liabilities.
Looking back at Q2 and Q3 2022, the quick ratio was 0.99 and 0.68 respectively, which may have raised concerns about the company's ability to meet its short-term obligations with its liquid assets alone.
Overall, an upward trend in the quick ratio is generally positive as it indicates an improvement in liquidity and the company's ability to meet its short-term financial commitments. However, it is important to consider other factors such as industry benchmarks and overall financial health when assessing the company's liquidity position.
Peer comparison
Dec 31, 2023