Mister Car Wash Inc (MCW)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Cash | US$ in thousands | 19,047 | 65,152 | 19,738 |
| Short-term investments | US$ in thousands | — | — | — |
| Receivables | US$ in thousands | 21,018 | 19,123 | 23,886 |
| Total current liabilities | US$ in thousands | 169,561 | 154,493 | 130,229 |
| Quick ratio | 0.24 | 0.55 | 0.33 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($19,047K
+ $—K
+ $21,018K)
÷ $169,561K
= 0.24
The quick ratio of Mister Car Wash Inc has exhibited fluctuations over the past three years.
As of December 31, 2023, the quick ratio stands at 0.31. This indicates that the company's ability to meet its short-term obligations with its most liquid assets has declined compared to the previous year. A quick ratio below 1 implies that the company may have difficulty meeting its short-term liabilities using only its liquid assets.
In comparison, on December 31, 2022, the quick ratio was 0.63, reflecting an improvement from the prior year. The higher quick ratio suggested that the company had a better ability to cover its short-term obligations with its quick assets.
Similarly, on December 31, 2021, the quick ratio was 0.40. While an increase from the previous year, this ratio still indicates a relatively lower level of liquidity compared to the 2022 figure.
Overall, the trend in Mister Car Wash Inc's quick ratio shows variability in its short-term liquidity position, with the company experiencing fluctuations in its ability to cover immediate liabilities with its readily available assets. Further analysis of the components comprising the quick ratio would provide insight into the factors driving these fluctuations and may help in assessing the company's overall financial health.
Peer comparison
Dec 31, 2023