Lindsay Corporation (LNN)
Quick 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 | 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 |
| Receivables | US$ in thousands | 116,601 | 134,461 | 153,624 | 143,049 | 144,774 | 154,167 | 167,007 | 157,116 | 138,200 | 155,518 | 134,694 | 111,959 | 93,609 | 107,713 | 94,211 | 74,909 | 84,604 | 84,931 | 80,468 | 79,317 |
| 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 |
| Quick ratio | 2.44 | 2.32 | 2.35 | 2.24 | 2.29 | 2.24 | 2.06 | 1.80 | 1.58 | 1.45 | 1.42 | 1.54 | 1.74 | 1.72 | 1.96 | 2.16 | 2.20 | 1.93 | 2.28 | 2.36 |
August 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($190,879K
+ $0K
+ $116,601K)
÷ $125,816K
= 2.44
The quick ratio of Lindsay Corporation has shown a generally positive trend over the past few quarters. The quick ratio, which measures the company's ability to meet its short-term obligations with its most liquid assets, has consistently remained above 1, indicating a strong liquidity position.
The quick ratio increased from 1.74 in Aug 31, 2021, to 2.44 in Aug 31, 2024, demonstrating an improvement in the company's ability to cover its current liabilities with its quick assets. This upward trend suggests that Lindsay Corporation has been managing its short-term obligations more effectively.
Although there have been some fluctuations in the quick ratio over the period analyzed, the overall trend points towards a strengthening liquidity position for the company. Investors and stakeholders may view this positively as it indicates that Lindsay Corporation has enough liquid assets to cover its short-term liabilities, which can provide stability during economic downturns or unforeseen circumstances.
Peer comparison
Aug 31, 2024