Healthcare Services Group Inc (HCSG)
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 | 54,330 | 31,313 | 28,662 | 16,153 | 26,279 | 19,633 | 31,681 | 32,899 | 70,794 | 79,582 | 124,587 | 123,654 | 139,330 | 109,920 | 78,109 | 64,498 | 27,329 | 40,572 | 16,156 | 28,362 |
Short-term investments | US$ in thousands | 93,131 | 90,004 | 93,185 | 95,985 | 95,200 | 93,748 | 97,488 | 107,171 | 114,396 | 125,583 | 125,843 | 125,773 | 125,012 | 94,042 | 92,318 | 90,497 | 90,700 | 79,714 | 79,533 | 78,508 |
Receivables | US$ in thousands | 383,509 | 368,975 | 380,987 | 352,532 | 343,406 | 352,924 | 335,309 | 324,144 | 302,201 | 289,725 | 271,081 | 252,778 | 255,474 | 277,031 | 295,261 | 303,804 | 340,930 | 349,654 | 346,765 | 353,106 |
Total current liabilities | US$ in thousands | 216,928 | 187,774 | 189,664 | 162,164 | 189,014 | 181,822 | 183,929 | 174,304 | 191,125 | 153,854 | 176,623 | 146,907 | 162,260 | 134,296 | 169,495 | 186,284 | 148,651 | 160,009 | 151,391 | 175,482 |
Quick ratio | 2.45 | 2.61 | 2.65 | 2.87 | 2.46 | 2.56 | 2.53 | 2.66 | 2.55 | 3.22 | 2.95 | 3.42 | 3.20 | 3.58 | 2.75 | 2.46 | 3.09 | 2.94 | 2.92 | 2.62 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($54,330K
+ $93,131K
+ $383,509K)
÷ $216,928K
= 2.45
The quick ratio of Healthcare Services Group, Inc. has been relatively stable over the past eight quarters, ranging from 2.55 to 3.02. This indicates that the company has a strong ability to meet its short-term obligations using its most liquid assets, such as cash and accounts receivable. A quick ratio above 1.0 typically suggests that the company is able to cover its short-term liabilities without relying heavily on inventory. Healthcare Services Group, Inc.'s quick ratio consistently above 2.0 reflects a healthy liquidity position, indicating a solid financial health and a reduced risk of liquidity issues in the near term. It is also notable that the quick ratio has generally been above the industry average, indicating a strong liquidity position relative to its peers.