Dorian LPG Ltd (LPG)
Quick ratio
| 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 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 282,508 | 208,460 | 192,044 | 155,549 | 148,797 | 129,817 | 141,287 | 155,518 | 236,759 | 115,808 | 98,105 | 78,254 | 79,330 | 133,594 | 145,059 | 142,934 | 48,390 | 64,691 | 46,420 | 21,717 |
| Short-term investments | US$ in thousands | 11,531 | 4,700 | — | — | — | — | — | — | — | — | — | — | — | — | — | 14,981 | 14,919 | — | — | — |
| Receivables | US$ in thousands | 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 | 67,669 | 69,978 | 69,231 | 65,561 |
| Total current liabilities | US$ in thousands | 101,813 | 102,451 | 105,317 | 96,631 | 94,597 | 83,870 | 70,997 | 71,651 | 94,837 | 94,855 | 96,519 | 88,143 | 82,081 | 77,529 | 97,773 | 86,725 | 85,013 | 86,049 | 82,013 | 79,845 |
| Quick ratio | 3.41 | 3.19 | 2.46 | 2.36 | 2.38 | 2.58 | 2.77 | 3.04 | 3.11 | 1.72 | 1.33 | 1.39 | 1.65 | 2.70 | 2.05 | 2.38 | 1.54 | 1.57 | 1.41 | 1.09 |
March 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($282,508K
+ $11,531K
+ $53,013K)
÷ $101,813K
= 3.41
The quick ratio of Dorian LPG Ltd has shown fluctuations over the past several quarters, ranging from a low of 1.09 to a high of 3.41. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets excluding inventory.
The quick ratio has generally been above 1, which indicates that the company has had sufficient liquid assets to cover its short-term liabilities. A ratio above 1 is typically considered favorable as it suggests the company is not overly reliant on inventory to meet its short-term obligations.
The trend in the quick ratio shows some variability, with fluctuations observed in each quarter. However, the overall trend appears relatively stable, with the ratio hovering around 2 in recent quarters. This indicates that Dorian LPG Ltd has maintained a healthy level of liquidity to meet its short-term financial obligations.
It is important for investors and stakeholders to monitor the quick ratio over time to ensure that the company continues to maintain a strong liquidity position and can effectively manage its short-term financial commitments.