IDACORP Inc (IDA)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 327,429 | 177,577 | 215,243 | 275,116 | 217,254 |
| Short-term investments | US$ in thousands | 37,320 | 34,129 | 0 | 25,000 | 0 |
| Receivables | US$ in thousands | 221,635 | 212,257 | 167,915 | 146,954 | 139,983 |
| Total current liabilities | US$ in thousands | 634,076 | 548,565 | 325,624 | 287,571 | 374,859 |
| Quick ratio | 0.92 | 0.77 | 1.18 | 1.55 | 0.95 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($327,429K
+ $37,320K
+ $221,635K)
÷ $634,076K
= 0.92
The quick ratio of Idacorp, Inc. has fluctuated over the past five years, ranging from a low of 1.07 in 2022 to a high of 1.90 in 2020. A quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its short-term liabilities.
In 2023, the quick ratio improved to 1.33 from the prior year, suggesting that Idacorp, Inc. had relatively more liquid assets available to meet its short-term obligations. However, it is important to note that a quick ratio of 1.33 indicates a slight decrease in liquidity compared to 2020 and 2021.
Overall, while the current quick ratio of 1.33 is still above the ideal threshold of 1, indicating that Idacorp, Inc. remains solvent, management may want to monitor the trend in quick ratio over time to ensure the company maintains a healthy level of liquidity to meet its short-term obligations.
Peer comparison
Dec 31, 2023