Dorian LPG Ltd (LPG)
Quick ratio
| Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 316,878 | 314,532 | 348,628 | 353,287 | 282,508 | 208,460 | 192,044 | 155,518 | 148,797 | 129,817 | 141,287 | 155,518 | 236,759 | 115,808 | 103,421 | 78,254 | 79,330 | 133,594 | 145,059 | 142,934 |
| Short-term investments | US$ in thousands | 0 | 10,001 | 9,894 | 11,624 | 11,531 | 4,700 | — | — | 0 | — | — | — | — | — | — | — | 0 | 0 | 0 | 14,981 |
| Receivables | US$ in thousands | 1,357 | 74,606 | 1,034 | 79,970 | 53,013 | 113,341 | 66,996 | 72,111 | 76,352 | 86,212 | 55,474 | 62,453 | 58,636 | 47,488 | 30,153 | 43,880 | 56,394 | 76,000 | 55,378 | 48,414 |
| Total current liabilities | US$ in thousands | 107,884 | 104,624 | 104,038 | 101,231 | 101,813 | 102,451 | 105,317 | 71,651 | 94,597 | 83,870 | 70,997 | 71,651 | 94,837 | 94,855 | 96,519 | 88,143 | 82,081 | 77,529 | 97,773 | 86,725 |
| Quick ratio | 2.95 | 3.81 | 3.46 | 4.39 | 3.41 | 3.19 | 2.46 | 3.18 | 2.38 | 2.58 | 2.77 | 3.04 | 3.11 | 1.72 | 1.38 | 1.39 | 1.65 | 2.70 | 2.05 | 2.38 |
March 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($316,878K
+ $0K
+ $1,357K)
÷ $107,884K
= 2.95
The quick ratio of Dorian LPG Ltd has exhibited some fluctuations over the past few years. Starting from June 30, 2020, the quick ratio stood at a healthy 2.38, indicating that the company had more than sufficient liquid assets to cover its current liabilities in the short term.
However, there was a slight decrease in the quick ratio to 2.05 by September 30, 2020. Over the subsequent quarters, the ratio fluctuated, reaching its lowest point at 1.38 on September 30, 2021. This decrease may have raised concerns about the company's ability to meet its short-term obligations using its most liquid assets.
From there, the quick ratio gradually improved, reaching 4.39 on June 30, 2024, signifying a significant increase in the company's ability to cover its current liabilities with its quick assets. This improvement suggests a strengthened liquidity position for Dorian LPG Ltd.
Overall, the quick ratio has shown some variability but generally remained above 1, demonstrating that the company typically has enough liquid assets to meet its short-term obligations. The company should continue to monitor its quick ratio to ensure it maintains a healthy liquidity position going forward.