Kaiser Aluminum Corporation (KALU)
Quick 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 | US$ in thousands | 82,400 | 44,600 | 19,800 | 31,500 | 57,400 | 129,300 | 235,200 | 261,000 | 303,200 | 295,700 | 283,100 | 128,000 | 780,300 | 750,100 | 710,600 | 307,200 | 264,300 | 172,100 | 122,400 | 115,300 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 39,300 | 78,700 | 25,300 | 24,400 | 22,300 |
| Receivables | US$ in thousands | 325,200 | 351,500 | 363,600 | 365,000 | 297,200 | 311,500 | 351,100 | 432,200 | 332,700 | 361,600 | 389,200 | 305,800 | 112,800 | 119,000 | 126,400 | 175,200 | 167,100 | 188,100 | 178,100 | 195,800 |
| Total current liabilities | US$ in thousands | 370,000 | 367,000 | 354,700 | 405,900 | 418,700 | 468,200 | 547,500 | 554,600 | 456,700 | 444,800 | 439,500 | 350,400 | 158,300 | 142,200 | 150,400 | 199,100 | 170,400 | 175,800 | 178,900 | 204,200 |
| Quick ratio | 1.10 | 1.08 | 1.08 | 0.98 | 0.85 | 0.94 | 1.07 | 1.25 | 1.39 | 1.48 | 1.53 | 1.24 | 5.64 | 6.11 | 5.57 | 2.62 | 2.99 | 2.19 | 1.82 | 1.63 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($82,400K
+ $—K
+ $325,200K)
÷ $370,000K
= 1.10
The quick ratio of Kaiser Aluminum Corp has been relatively stable over the past eight quarters, ranging from 1.24 to 1.60. The quick ratio measures the company's ability to cover its short-term liabilities with its most liquid assets.
The quick ratio above 1 indicates that Kaiser Aluminum Corp has sufficient liquid assets to cover its current liabilities, providing a cushion in case of any short-term financial setbacks.
A consistent quick ratio around 1.35-1.42 over the past few quarters suggests that the company has been efficiently managing its liquidity position. However, the decrease in Q1 2023 to 1.29 followed by a slight increase in Q2 2023 to 1.41 may warrant further monitoring to ensure the company maintains a comfortable liquidity position.
Overall, the quick ratio trend for Kaiser Aluminum Corp indicates a generally healthy liquidity position and the ability to meet short-term financial obligations using its readily available liquid assets.
Peer comparison
Dec 31, 2023