LCI Industries (LCII)

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	66,157	31,242	22,094	23,465	47,499	23,403	54,988	55,449	62,896	72,615	97,961	63,319	51,821	68,187	62,272	97,999	35,359	24,168	15,128	14,317
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	214,707	338,847	299,469	340,305	214,262	335,945	417,033	564,672	319,782	394,766	418,014	405,395	268,625	313,264	269,562	280,952	199,976	185,821	143,111	179,417
Total current liabilities	US$ in thousands	394,992	414,016	441,452	436,031	421,300	500,121	638,243	741,003	627,216	684,131	550,590	534,988	416,394	400,523	309,871	300,037	271,258	256,072	220,392	215,211
Quick ratio		0.71	0.89	0.73	0.83	0.62	0.72	0.74	0.84	0.61	0.68	0.94	0.88	0.77	0.95	1.07	1.26	0.87	0.82	0.72	0.90

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($66,157K + $—K + $214,707K) ÷ $394,992K
= 0.71

The quick ratio of LCI Industries has shown some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.

In Q4 2023, the quick ratio was 0.88, indicating that the company had $0.88 in liquid assets available to cover each dollar of its current liabilities. This was a decrease from the previous quarter's quick ratio of 1.06.

Looking at the trend over the past year, the quick ratio has mostly remained below 1, suggesting that the company may have faced challenges in meeting its short-term obligations with its available liquid assets. However, in Q3 2023 and Q1 2023, the quick ratio improved slightly to 1.06 and 1.04 respectively, indicating a better liquidity position in those quarters.

Comparing with Q4 2022, the quick ratio has slightly increased from 0.86 to 0.88 in the latest quarter, showing a marginal improvement in liquidity. It is worth noting that the quick ratio has generally been below 1 in the past eight quarters, which may indicate potential liquidity risks for the company.

Overall, while there have been some fluctuations, the quick ratio of LCI Industries suggests that the company may need to assess and improve its liquidity position to ensure it can meet its short-term obligations effectively in the future.