Matthews International Corporation (MATW)
Quick ratio
| 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 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 40,816 | 42,745 | 45,497 | 37,921 | 42,101 | 39,295 | 41,916 | 42,718 | 69,016 | 45,846 | 53,777 | 70,984 | 49,176 | 46,230 | 46,980 | 41,175 | 41,334 | 42,904 | 72,338 | 39,384 |
| Short-term investments | US$ in thousands | — | 616 | 472 | 129 | 920 | 365 | 2 | 3,366 | 3,358 | 2,169 | 1,426 | 269 | 31 | 49,646 | 78 | 63,999 | — | 249 | — | 473 |
| Receivables | US$ in thousands | 205,984 | 192,817 | 192,735 | 216,402 | 207,526 | 188,262 | 216,140 | 221,613 | 221,015 | 207,503 | 223,283 | 313,997 | 309,818 | 296,660 | 292,703 | 305,426 | 295,185 | 271,238 | 294,587 | 312,903 |
| Total current liabilities | US$ in thousands | 434,775 | 386,152 | 358,752 | 349,203 | 394,600 | 380,071 | 394,441 | 366,744 | 411,375 | 309,791 | 338,559 | 341,130 | 354,225 | 329,465 | 324,270 | 332,127 | 316,868 | 305,032 | 322,302 | 283,276 |
| Quick ratio | 0.57 | 0.61 | 0.67 | 0.73 | 0.63 | 0.60 | 0.65 | 0.73 | 0.71 | 0.82 | 0.82 | 1.13 | 1.01 | 1.19 | 1.05 | 1.24 | 1.06 | 1.03 | 1.14 | 1.25 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($40,816K
+ $—K
+ $205,984K)
÷ $434,775K
= 0.57
The quick ratio of Matthews International Corporation has shown a fluctuating trend over the past eight quarters, ranging from 0.57 to 1.25. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio of less than 1 suggests that the company may have difficulties meeting its short-term liabilities.
From December 2019 to September 2020, the quick ratio consistently stayed above 1, indicating a strong ability to cover short-term obligations. However, from March 2021 to September 2021, there was a gradual decline in the quick ratio, dropping to a low of 1.01 in September 2021.
Subsequently, there was a significant improvement in the quick ratio from December 2021 to March 2022, reaching a high of 1.13 in March 2022. However, from June 2022 to September 2023, the quick ratio declined, hitting a low of 0.60 in June 2023.
The quick ratio improved thereafter, with a peak of 0.73 in both March and December 2024. Overall, while the quick ratio of Matthews International Corporation has shown some variability, it is important to continue monitoring this ratio to ensure the company's ability to meet its short-term obligations effectively.