Iridium Communications Inc (IRDM)
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 | 71,870 | 67,877 | 103,456 | 126,592 | 168,770 | 218,762 | 227,197 | 232,015 | 320,913 | 287,004 | 213,408 | 214,835 | 237,178 | 182,702 | 119,115 | 67,289 | 223,561 | 171,629 | 175,846 | 275,659 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 2,002 | 5,986 | 7,481 | 7,548 | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 131,554 | 119,003 | 124,241 | 116,321 | 141,577 | 126,836 | 105,990 | 95,686 | 108,836 | 93,464 | 86,914 | 88,317 | 113,072 | 100,671 | 101,942 | 89,327 | 113,751 | 323,068 | 284,895 | 376,442 |
| Cash ratio | 0.55 | 0.57 | 0.83 | 1.09 | 1.19 | 1.72 | 2.14 | 2.42 | 2.95 | 3.09 | 2.52 | 2.52 | 2.16 | 1.81 | 1.17 | 0.75 | 1.97 | 0.53 | 0.62 | 0.73 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($71,870K
+ $—K)
÷ $131,554K
= 0.55
The cash ratio of Iridium Communications Inc has been gradually decreasing over the past eight quarters. Starting from 2.54 in Q1 2022, the cash ratio has been on a downward trend, reaching 0.67 in Q4 2023. This indicates that the company's ability to cover its short-term liabilities with its cash and cash equivalents has been weakening over time. A cash ratio below 1 suggests that the company may have difficulty meeting its immediate obligations solely with its cash reserves. It is essential for investors and stakeholders to monitor this trend closely to assess the company's liquidity position and financial strength.
Peer comparison
Dec 31, 2023