MarineMax Inc (HZO)
Cash 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 and cash equivalents | US$ in thousands | 210,323 | 201,456 | 226,134 | 204,339 | 177,773 | 228,274 | 281,351 | 219,400 | 216,315 | 222,192 | 200,121 | 142,888 | 120,939 | 155,493 | 86,919 | 64,406 | 35,985 | 38,511 | 71,618 | 63,598 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 940,006 | 847,049 | 819,962 | 813,372 | 649,202 | 412,772 | 412,569 | 369,893 | 379,920 | 251,093 | 221,570 | 240,176 | 321,184 | 272,534 | 271,633 | 446,435 | 414,776 | 412,893 | 383,064 | 379,584 |
| Cash ratio | 0.22 | 0.24 | 0.28 | 0.25 | 0.27 | 0.55 | 0.68 | 0.59 | 0.57 | 0.88 | 0.90 | 0.59 | 0.38 | 0.57 | 0.32 | 0.14 | 0.09 | 0.09 | 0.19 | 0.17 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($210,323K
+ $—K)
÷ $940,006K
= 0.22
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. Marinemax, Inc.'s cash ratio has fluctuated over the past eight quarters, ranging from 0.25 to 0.73.
The cash ratio was relatively stable around the 0.60 mark in the quarters up to and including June 30, 2022. However, there was a significant decline in the cash ratio in the subsequent quarters, falling to 0.31 in the December 31, 2022, quarter, and further to 0.25 in the most recent quarter as of December 31, 2023.
The decreasing trend in the cash ratio suggests that Marinemax, Inc. may be less capable of meeting its short-term obligations with its available cash and cash equivalents. This may indicate potential liquidity challenges and the need to closely manage cash resources and short-term liabilities. Further analysis of the company's liquidity position and cash management strategies would be beneficial to understand the underlying factors driving this trend.
Peer comparison
Dec 31, 2023