Haverty Furniture Companies Inc (HVT)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 120,635 | 123,126 | 166,146 | 200,058 | 75,739 |
| Short-term investments | US$ in thousands | — | — | — | 6,713 | — |
| Total current liabilities | US$ in thousands | 138,264 | 154,432 | 210,377 | 204,041 | 127,016 |
| Cash ratio | 0.87 | 0.80 | 0.79 | 1.01 | 0.60 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($120,635K
+ $—K)
÷ $138,264K
= 0.87
The cash ratio for Haverty Furniture Companies Inc has shown some fluctuation over the past five years, ranging from 0.60 to 1.01. In 2023, the cash ratio stands at 0.87, indicating that the company has $0.87 of cash and cash equivalents for every $1 of current liabilities. This suggests that the company may have a slightly lower liquidity position compared to the previous year. However, it is important to note that the cash ratio of 0.87 is still above 1, which generally indicates that the company is able to cover its short-term obligations with its readily available cash resources, although to a slightly lesser extent compared to the previous years. Further analysis of the company's overall liquidity position and cash management practices would be beneficial to fully understand the implications of the cash ratio trend.
Peer comparison
Dec 31, 2023