Lindsay Corporation (LNN)
Cash ratio
| Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 190,879 | 140,221 | 133,415 | 159,381 | 160,755 | 131,577 | 97,675 | 99,168 | 105,048 | 81,757 | 68,951 | 84,719 | 127,107 | 120,801 | 110,775 | 126,802 | 121,403 | 102,474 | 101,272 | 120,910 |
| Short-term investments | US$ in thousands | 0 | 12,497 | 17,219 | 16,278 | 5,556 | 12,806 | 8,763 | 11,424 | 11,460 | 13,930 | 24,934 | 30,195 | 19,604 | 19,663 | 19,555 | 19,624 | 19,511 | 19,012 | 18,740 | 0 |
| Total current liabilities | US$ in thousands | 125,816 | 123,737 | 129,278 | 141,971 | 136,108 | 133,048 | 132,788 | 148,585 | 160,942 | 173,814 | 161,402 | 147,782 | 138,240 | 144,156 | 114,836 | 102,387 | 102,395 | 107,217 | 87,821 | 84,801 |
| Cash ratio | 1.52 | 1.23 | 1.17 | 1.24 | 1.22 | 1.09 | 0.80 | 0.74 | 0.72 | 0.55 | 0.58 | 0.78 | 1.06 | 0.97 | 1.13 | 1.43 | 1.38 | 1.13 | 1.37 | 1.43 |
August 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($190,879K
+ $0K)
÷ $125,816K
= 1.52
The cash ratio for Lindsay Corporation has shown fluctuations over the analyzed periods. The ratio peaked at 1.52 in August 2024, indicating a significant portion of the company's current assets was held in cash or cash equivalents relative to its current liabilities. This suggests a strong liquidity position at that time.
The ratio then decreased to 1.23 in May 2024 and further to 1.17 in February 2024, although both ratios still indicate a healthy ability to cover short-term obligations with cash on hand.
In the preceding periods, the cash ratio varied between 0.55 and 1.09, indicating fluctuations in the company's liquidity position. These ratios below 1 may have been a signal that the company had more short-term obligations than immediately available cash, which could indicate the need to manage cash flow or working capital more effectively.
Overall, the trend of the cash ratio for Lindsay Corporation demonstrates some variability over time but generally indicates a satisfactory level of liquidity, with some periods showing stronger positions than others. It is essential for the company to maintain a balance between managing current liabilities and holding adequate cash reserves to meet its short-term obligations efficiently.
Peer comparison
Aug 31, 2024