MGP Ingredients Inc (MGPI)
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 | 18,388 | 28,030 | 21,959 | 31,728 | 47,889 | 50,674 | 37,415 | 27,295 | 21,568 | 16,162 | 37,243 | 22,586 | 21,662 | 19,966 | 11,745 | 42,659 | 3,309 | 4,397 | 2,162 | 0 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 5 | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 145,476 | 128,885 | 149,887 | 128,611 | 113,594 | 108,659 | 105,393 | 102,062 | 98,076 | 93,534 | 79,110 | 67,147 | 56,966 | 54,392 | 54,164 | 52,443 | 41,918 | 40,554 | 41,604 | 43,885 |
| Total current liabilities | US$ in thousands | 114,106 | 90,108 | 118,651 | 102,315 | 105,375 | 100,791 | 93,256 | 84,463 | 88,800 | 86,466 | 83,438 | 55,003 | 53,329 | 44,405 | 39,195 | 41,312 | 39,295 | 35,125 | 32,118 | 30,417 |
| Quick ratio | 1.44 | 1.74 | 1.45 | 1.57 | 1.53 | 1.58 | 1.53 | 1.53 | 1.35 | 1.27 | 1.39 | 1.63 | 1.47 | 1.67 | 1.68 | 2.30 | 1.15 | 1.28 | 1.36 | 1.44 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($18,388K
+ $—K
+ $145,476K)
÷ $114,106K
= 1.44
The quick ratio for MGP Ingredients, Inc. has shown some fluctuations over the past eight quarters, ranging from a low of 1.47 in Q4 2023 to a high of 1.79 in Q3 2023. Overall, the quick ratio has generally been above 1, indicating that the company has an acceptable level of liquidity to cover its short-term obligations using its most liquid assets.
Although there have been some fluctuations in the quick ratio, it is positive to see that MGP Ingredients, Inc. has maintained a quick ratio above 1 consistently, which suggests that the company has been effectively managing its short-term liquidity needs. The quick ratio measures the company's ability to meet its short-term liabilities without relying on the sale of inventory, which is an important indicator of financial health.