Marathon Digital Holdings Inc (MARA)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 357,313 | 103,705 | 268,556 | 141,323 | 693 |
| Short-term investments | US$ in thousands | 639,660 | 121,842 | 223,916 | 2,272 | 1 |
| Receivables | US$ in thousands | 0 | 18 | 30,000 | 74,767 | — |
| Total current liabilities | US$ in thousands | 33,758 | 26,115 | 11,250 | 1,444 | 1,853 |
| Quick ratio | 29.53 | 8.64 | 46.44 | 151.22 | 0.37 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($357,313K
+ $639,660K
+ $0K)
÷ $33,758K
= 29.53
The quick ratio of Marathon Digital Holdings Inc has displayed significant fluctuations over the past five years. Starting at a relatively low level of 0.37 in 2019, the ratio experienced a substantial increase in 2020 to 151.22, indicating a significant improvement in the company's ability to meet its short-term obligations with its most liquid assets. However, this level was not sustained, as the ratio dropped sharply to 46.44 in 2021. The ratio further declined to 8.64 in 2022 before experiencing a substantial increase to 29.53 in 2023.
Overall, the quick ratio has shown volatile movements, which may suggest fluctuations in the company's liquidity position and its ability to cover immediate obligations with its quick assets. The sharp increases and decreases in the ratio over the years warrant further investigation into the company's asset composition and short-term liquidity management strategies.
Peer comparison
Dec 31, 2023