Mister Car Wash Inc (MCW)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 19,047 | 62,133 | 136,095 | 69,903 | 65,152 | 74,885 | 37,724 | 70,261 | 19,738 | 162,232 | 154,972 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 1,206 | 3,375 | — | — | — | — |
| Receivables | US$ in thousands | 21,018 | 20,803 | 24,518 | 15,049 | 19,123 | 17,378 | 16,634 | 13,861 | 23,886 | 8,986 | 7,813 |
| Total current liabilities | US$ in thousands | 169,561 | 174,945 | 187,108 | 153,620 | 154,493 | 141,823 | 135,863 | 141,687 | 130,229 | 136,813 | 138,311 |
| Quick ratio | 0.24 | 0.47 | 0.86 | 0.55 | 0.55 | 0.66 | 0.42 | 0.59 | 0.33 | 1.25 | 1.18 |
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 a downward trend in the recent quarters. It decreased from 0.63 in Q4 2022 to 0.31 in Q4 2023. The ratio improved in Q2 2023 to 0.93 but dropped again in the subsequent quarters.
A quick ratio below 1 suggests that the company may have difficulties meeting its short-term obligations with its liquid assets. The decreasing trend in the quick ratio may indicate potential liquidity challenges or inefficiencies in managing the company's current assets and liabilities. It is important for the company to monitor its liquidity position closely and take necessary steps to ensure it has enough liquid assets to cover its short-term obligations.
Peer comparison
Dec 31, 2023