Lindsay Corporation (LNN)
Cash ratio
| 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 | Aug 31, 2019 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 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 | 127,204 | 110,839 |
| Short-term investments | US$ in thousands | 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 | 0 | 0 |
| Total current liabilities | US$ in thousands | 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 | 82,131 | 86,819 |
| Cash ratio | 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 | 1.55 | 1.28 |
February 29, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($133,415K
+ $17,219K)
÷ $129,278K
= 1.17
The cash ratio of Lindsay Corporation has shown fluctuating trends over the past several quarters. The cash ratio measures a company's ability to cover its current liabilities with its available cash and cash equivalents. A higher cash ratio suggests a stronger ability to meet short-term obligations without relying on external sources of financing.
In the most recent quarter, as of February 29, 2024, the cash ratio stood at 1.17, indicating that the company had $1.17 in cash and cash equivalents for every dollar of its current liabilities. This is a positive sign, showing an improved liquidity position compared to previous quarters.
Looking back over the past few quarters, the cash ratio has generally been increasing since August 2022, indicating a strengthening liquidity position for the company. However, there was a dip in the ratio in November 2023, followed by a recovery in the subsequent quarter.
It is essential for Lindsay Corporation to maintain a healthy cash ratio to ensure its ability to meet short-term obligations and unexpected expenses. The trend of increasing cash ratios in recent quarters is a positive signal of improved liquidity management within the company. Continuing to monitor and manage cash levels effectively will be crucial for the company's financial health and stability in the future.
Peer comparison
Feb 29, 2024