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.
Peer comparison
Dec 31, 2023