Knowles Cor (KN)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 87,300 | 48,200 | 68,900 | 147,800 | 78,400 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 135,300 | 134,700 | 146,600 | 131,400 | 159,600 |
| Total current liabilities | US$ in thousands | 164,600 | 99,100 | 166,200 | 297,300 | 151,500 |
| Quick ratio | 1.35 | 1.85 | 1.30 | 0.94 | 1.57 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($87,300K
+ $—K
+ $135,300K)
÷ $164,600K
= 1.35
The quick ratio of Knowles Corp has shown fluctuation over the past five years, ranging from 0.97 to 1.95. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
In 2023, the quick ratio stands at 1.41, indicating that the company has $1.41 in highly liquid assets available to cover each $1 of current liabilities. This suggests a relatively healthy liquidity position, although there has been a decrease compared to the previous year.
In 2022, Knowles Corp's quick ratio was 1.95, reflecting a stronger liquidity position than in 2023. This signifies that the company had a higher level of liquid assets relative to its current liabilities, indicating a better ability to meet short-term obligations.
The quick ratio was notably lower in 2020 at 0.97, which may raise concerns about the company's short-term liquidity and ability to cover immediate obligations. However, there has been improvement in subsequent years.
Overall, while the quick ratio of Knowles Corp has varied, it is essential to analyze additional financial metrics and factors alongside the quick ratio to gain a more comprehensive understanding of the company's liquidity and financial health.
Peer comparison
Dec 31, 2023