Itron Inc (ITRI)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 302,049 | 202,007 | 162,579 | 206,933 | 149,904 |
| Short-term investments | US$ in thousands | — | — | — | — | 175 |
| Receivables | US$ in thousands | 303,821 | 280,435 | 298,459 | 369,828 | 472,925 |
| Total current liabilities | US$ in thousands | 537,236 | 498,572 | 501,344 | 549,899 | 671,391 |
| Quick ratio | 1.13 | 0.97 | 0.92 | 1.05 | 0.93 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($302,049K
+ $—K
+ $303,821K)
÷ $537,236K
= 1.13
The quick ratio of Itron Inc. has shown varying trends over the past five years. In 2023, the quick ratio improved to 1.43 from 1.21 in 2022, indicating a stronger ability to cover its short-term obligations with its most liquid assets. This suggests that the company may have sufficient liquid assets to meet its current liabilities comfortably.
Compared to 2021 and 2019, the quick ratio in 2023 also appears to be higher, reflecting a positive liquidity position. It is important to note that a quick ratio above 1 implies that the company has an adequate level of quick assets to cover its current liabilities.
However, the quick ratio was lower in 2020 at 1.36 compared to 2023. Despite this slight dip, the ratio remained above 1, suggesting a relatively healthy liquidity position.
Overall, the increasing trend in Itron Inc.'s quick ratio over the past few years indicates an improvement in its short-term liquidity position and ability to meet its immediate obligations.
Peer comparison
Dec 31, 2023