MGM Resorts International (MGM)
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 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 2,927,830 | 3,316,360 | 3,843,370 | 4,505,320 | 5,911,890 | 5,295,430 | 5,784,170 | 2,719,120 | 4,703,060 | 5,570,830 | 5,626,230 | 6,171,510 | 5,101,640 | 4,593,870 | 4,835,500 | 6,016,420 | 2,329,600 | 1,233,570 | 1,160,590 | 1,223,400 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | 81,000 | 66,000 | 76,000 | 124,000 | 1,439,450 | 1,447,040 | 1,473,960 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,070,580 | 971,993 | 833,468 | 755,026 | 925,165 | 943,058 | 901,540 | 828,125 | 857,777 | 731,308 | 657,034 | 602,365 | 559,917 | 1,249,790 | 1,204,570 | 1,234,280 | 1,374,880 | 1,309,220 | 583,766 | 621,138 |
| Total current liabilities | US$ in thousands | 3,126,070 | 2,962,070 | 2,749,400 | 2,844,430 | 4,515,890 | 5,895,500 | 5,544,580 | 3,599,600 | 3,442,260 | 3,410,460 | 2,036,370 | 1,835,390 | 1,856,580 | 2,766,780 | 2,575,130 | 2,626,250 | 3,191,420 | 3,293,240 | 2,786,540 | 2,812,680 |
| Quick ratio | 1.28 | 1.45 | 1.70 | 1.85 | 1.51 | 1.06 | 1.21 | 1.01 | 1.63 | 1.87 | 3.15 | 4.47 | 3.83 | 2.64 | 2.35 | 2.76 | 1.16 | 0.77 | 0.63 | 0.66 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,927,830K
+ $—K
+ $1,070,580K)
÷ $3,126,070K
= 1.28
The quick ratio of MGM Resorts International has shown a consistent improvement over the past eight quarters, indicating a strengthening liquidity position. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets.
In Q4 2023, the quick ratio stood at 1.53, down from the previous quarter but still at a healthy level above 1. This means the company had $1.53 in quick assets for every $1 of current liabilities, reflecting a relatively strong ability to cover its short-term debts.
The trend of increasing quick ratios from Q1 2022 to Q2 2023, reaching a peak of 2.15 in Q1 2023, suggests an improving ability to meet short-term obligations efficiently. This could be attributed to effective management of liquid assets relative to current liabilities.
Overall, the consistent improvement in the quick ratio of MGM Resorts International indicates a sound liquidity position and suggests that the company has been managing its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023