Lancaster Colony Corporation (LANC)
Quick ratio
| Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 163,443 | 164,756 | 133,848 | 73,746 | 88,473 | 82,861 | 95,487 | 64,219 | 60,283 | 67,085 | 114,011 | 130,089 | 188,055 | 211,121 | 216,381 | 186,088 | 198,273 | 177,798 | 202,226 | 173,461 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 95,560 | 102,637 | 100,188 | 120,076 | 114,967 | 130,506 | 126,919 | 136,241 | 135,496 | 110,131 | 104,769 | 108,365 | 97,897 | 97,877 | 87,530 | 96,993 | 86,604 | 87,649 | 77,061 | 91,554 |
| Total current liabilities | US$ in thousands | 183,969 | 189,786 | 163,376 | 167,208 | 168,752 | 196,451 | 180,171 | 190,915 | 165,585 | 179,477 | 172,832 | 179,787 | 173,923 | 151,983 | 140,628 | 139,819 | 126,259 | 137,146 | 133,286 | 136,573 |
| Quick ratio | 1.41 | 1.41 | 1.43 | 1.16 | 1.21 | 1.09 | 1.23 | 1.05 | 1.18 | 0.99 | 1.27 | 1.33 | 1.64 | 2.03 | 2.16 | 2.02 | 2.26 | 1.94 | 2.10 | 1.94 |
June 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($163,443K
+ $—K
+ $95,560K)
÷ $183,969K
= 1.41
The quick ratio of Lancaster Colony Corporation has shown variability over time based on the data provided. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
Looking at the historical trend, the quick ratio has generally been above 1, indicating that the company has had an adequate level of liquid assets to cover its current liabilities. Specifically, the company's quick ratio ranged from 0.99 to 2.26 over the past five years.
A higher quick ratio is typically viewed as a positive sign, as it suggests a stronger ability to pay off short-term debts without relying on selling inventory. In this case, the company's quick ratios mostly remained above 1, which is generally considered healthy.
It is important to note that a quick ratio of exactly 1 means that current assets are just sufficient to cover current liabilities. Ratios above 1 indicate a stronger financial position, while ratios below 1 may indicate potential liquidity issues.
Overall, the analysis of Lancaster Colony Corporation's quick ratio indicates that the company has generally maintained a healthy level of liquidity over the past few years, with some fluctuations in the ratio.
Peer comparison
Jun 30, 2024