Lindsay Corporation (LNN)
Quick 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 | 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 |
| Receivables | US$ in thousands | 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 | 75,551 | 94,584 |
| 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 |
| Quick ratio | 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 | 2.47 | 2.37 |
February 29, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($133,415K
+ $17,219K
+ $153,624K)
÷ $129,278K
= 2.35
The quick ratio of Lindsay Corporation has been relatively stable over the past few quarters, ranging between 1.42 to 2.35. The quick ratio measures the company's ability to meet its short-term liabilities with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
Lindsay Corporation's quick ratio has generally been healthy, consistently above 1, indicating a strong ability to meet its short-term obligations. The increasing trend seen in the quick ratio over the past quarters suggests an improvement in the company's liquidity position.
The company's quick ratio peaked at 2.35 in the most recent quarter, indicating a significant increase in the proportion of quick assets compared to current liabilities. This may suggest that Lindsay Corporation has strengthened its liquidity position and is better equipped to weather any short-term financial challenges.
Overall, based on the historical quick ratio data, Lindsay Corporation appears to have a solid liquidity position and is well-positioned to meet its short-term obligations effectively.
Peer comparison
Feb 29, 2024