John Bean Technologies Corporation (JBT)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 483,300 | 71,700 | 78,800 | 47,500 | 39,500 |
| Short-term investments | US$ in thousands | — | 0 | — | 3,800 | — |
| Total current liabilities | US$ in thousands | 484,400 | 624,000 | 549,900 | 457,500 | 474,500 |
| Cash ratio | 1.00 | 0.11 | 0.14 | 0.11 | 0.08 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($483,300K
+ $—K)
÷ $484,400K
= 1.00
The cash ratio of John Bean Technologies Corp has exhibited fluctuations over the past five years. The ratio has shown an improving trend from 2019 to 2023, with significant increases in 2020 and 2023 compared to the previous years. This indicates that the company's ability to cover its short-term liabilities with its available cash has strengthened over time.
The cash ratio was at its lowest in 2019 at 0.37, reflecting lower liquidity levels, but it steadily increased to 1.34 in 2023, indicating a substantial improvement in the company's liquidity position. This suggests that John Bean Technologies Corp has been able to enhance its cash reserves relative to its current liabilities, which can be a positive sign for its financial health and ability to meet short-term obligations.
Overall, the increasing trend in the cash ratio of John Bean Technologies Corp highlights its improved liquidity position in recent years, suggesting a stronger ability to cover its short-term obligations with available cash resources.
Peer comparison
Dec 31, 2023