Harmonic Inc (HLIT)
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 | 84,269 | 75,622 | 71,031 | 90,877 | 89,586 | 105,280 | 121,819 | 100,739 | 133,431 | 128,434 | 115,177 | 100,777 | 98,645 | 70,817 | 77,744 | 71,712 | 93,058 | 66,695 | 58,064 | 69,916 |
| Short-term investments | US$ in thousands | — | 6,305 | — | — | 0 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 141,531 | 110,345 | 119,203 | 88,135 | 108,427 | 105,581 | — | — | 88,529 | — | — | — | 66,727 | 87,523 | 74,781 | 100,721 | 95,843 | 108,077 | 70,571 | 66,089 |
| Total current liabilities | US$ in thousands | 272,394 | 275,219 | 287,689 | 305,898 | 322,072 | 221,942 | 221,984 | 230,856 | 224,461 | 203,739 | 186,371 | 192,565 | 147,295 | 145,770 | 145,401 | 196,728 | 191,899 | 146,450 | 138,311 | 134,104 |
| Quick ratio | 0.83 | 0.70 | 0.66 | 0.59 | 0.61 | 0.95 | 0.55 | 0.44 | 0.99 | 0.63 | 0.62 | 0.52 | 1.12 | 1.09 | 1.05 | 0.88 | 0.98 | 1.19 | 0.93 | 1.01 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($84,269K
+ $—K
+ $141,531K)
÷ $272,394K
= 0.83
The quick ratio of Harmonic, Inc. has exhibited fluctuations over the past eight quarters. It decreased steadily from Q1 2022 to Q4 2022, reaching its lowest point of 0.70. However, in the subsequent quarters, the quick ratio showed an increasing trend, peaking at 1.15 in Q3 2022 before declining again. The quick ratio in Q4 2023 is 0.91, indicating that the company may potentially face liquidity challenges in meeting its short-term obligations. It is essential for Harmonic, Inc. to closely monitor its liquidity position and take necessary steps to improve its ability to cover immediate liabilities with its liquid assets.
Peer comparison
Dec 31, 2023