Leggett & Platt Incorporated (LEG)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 350,200 | 277,200 | 307,000 | 361,300 | 365,500 | 273,900 | 272,400 | 344,500 | 316,500 | 226,200 | 269,900 | 327,300 | 361,700 | 234,700 | 231,600 | 333,800 | 348,900 | 245,000 | 208,800 | 505,800 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | 12,300 | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 846,400 | 1,171,700 | 1,167,900 | 1,188,300 | 1,262,600 | 1,009,100 | 955,600 | 968,600 | 968,100 | 965,000 | 1,331,400 | 1,351,200 | 1,335,700 | 1,338,000 | 1,107,100 | 995,600 | 1,006,000 | 947,400 | 775,500 | 854,700 |
| Quick ratio | 0.41 | 0.24 | 0.26 | 0.30 | 0.29 | 0.27 | 0.29 | 0.36 | 0.33 | 0.23 | 0.20 | 0.24 | 0.27 | 0.18 | 0.21 | 0.34 | 0.35 | 0.26 | 0.27 | 0.59 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($350,200K
+ $—K
+ $—K)
÷ $846,400K
= 0.41
The quick ratio of Leggett & Platt Incorporated has fluctuated over the past several years. It ranged from a low of 0.18 on September 30, 2021, to a high of 0.41 on December 31, 2024. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio is generally favorable as it indicates a stronger liquidity position.
The trend in Leggett & Platt's quick ratio shows some variability, indicating potential changes in the company's ability to quickly convert assets into cash to cover its current liabilities. The quick ratio dipped below 0.3 several times during the period, suggesting potential liquidity challenges in meeting short-term obligations. However, there were also periods where the quick ratio improved, such as in December 31, 2022, and December 31, 2024, which may indicate better liquidity management.
Overall, it is important for Leggett & Platt to closely monitor and manage its quick ratio to ensure it maintains a healthy liquidity position to meet its short-term financial obligations.
Peer comparison
Dec 31, 2024