Knowles Cor (KN)
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 | 87,300 | 75,100 | 54,400 | 52,000 | 48,200 | 41,500 | 47,700 | 50,700 | 68,900 | 140,000 | 94,200 | 181,600 | 147,800 | 139,100 | 168,300 | 147,800 | 78,400 | 69,700 | 53,600 | 41,300 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 135,300 | 119,000 | 118,000 | 109,500 | 134,700 | 128,700 | 127,800 | 143,100 | 146,600 | 129,800 | 116,800 | 114,700 | 131,400 | 125,200 | 101,600 | 120,600 | 159,600 | 162,400 | 135,800 | 130,500 |
| Total current liabilities | US$ in thousands | 164,600 | 107,000 | 108,400 | 125,300 | 99,100 | 131,300 | 149,100 | 143,000 | 166,200 | 313,500 | 301,800 | 302,200 | 297,300 | 138,000 | 231,800 | 132,900 | 151,500 | 139,300 | 127,500 | 127,400 |
| Quick ratio | 1.35 | 1.81 | 1.59 | 1.29 | 1.85 | 1.30 | 1.18 | 1.36 | 1.30 | 0.86 | 0.70 | 0.98 | 0.94 | 1.92 | 1.16 | 2.02 | 1.57 | 1.67 | 1.49 | 1.35 |
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 some fluctuation over the past 8 quarters ranging from 1.27 to 1.95. This ratio indicates the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has more than enough liquid assets to cover its current liabilities.
Knowles Corp's quick ratio has generally been above 1, suggesting a healthy liquidity position. The highest quick ratio of 1.95 was recorded in Q4 2022, indicating a strong ability to meet short-term obligations. However, there was a notable decrease in Q1 2023 to 1.39, which might indicate a temporary strain on liquidity.
Overall, Knowles Corp's quick ratio appears to be relatively stable and above the industry average, reflecting a strong financial position in terms of liquidity management. It is essential for the company to carefully monitor this ratio to ensure it maintains a comfortable liquidity position in the long term.
Peer comparison
Dec 31, 2023