Itron Inc (ITRI)
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 | 302,049 | 254,771 | 232,787 | 196,013 | 202,007 | 215,413 | 208,500 | 203,997 | 162,579 | 188,691 | 207,131 | 574,592 | 206,933 | 586,167 | 544,823 | 554,520 | 149,904 | 140,938 | 135,736 | 110,828 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 537,236 | 555,924 | 559,920 | 536,555 | 498,572 | 502,117 | 461,190 | 501,568 | 501,344 | 495,754 | 514,365 | 909,562 | 549,899 | 586,705 | 601,679 | 667,094 | 671,391 | 684,603 | 670,160 | 665,878 |
| Cash ratio | 0.56 | 0.46 | 0.42 | 0.37 | 0.41 | 0.43 | 0.45 | 0.41 | 0.32 | 0.38 | 0.40 | 0.63 | 0.38 | 1.00 | 0.91 | 0.83 | 0.22 | 0.21 | 0.20 | 0.17 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($302,049K
+ $—K)
÷ $537,236K
= 0.56
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. For Itron Inc., the cash ratio has fluctuated over the past eight quarters, ranging from 0.62 to 0.86.
A cash ratio of 0.86 in Q4 2023 indicates that Itron Inc. had $0.86 in cash and cash equivalents for every $1 of its current liabilities. This implies that the company is in a strong position to meet its short-term obligations using its available cash resources.
While the cash ratio peaked in Q4 2023, the trend over the past eight quarters shows some variability but generally remains above 0.60. This indicates that Itron Inc. has maintained a relatively healthy level of liquidity, allowing it to navigate its short-term financial commitments without significant strain on its cash position.
It is essential for investors and stakeholders to continue monitoring Itron Inc.'s cash ratio to assess the company's liquidity and ability to meet its short-term financial obligations.
Peer comparison
Dec 31, 2023