M/I Homes Inc (MHO)
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 | 732,604 | 736,252 | 668,287 | 542,564 | 310,542 | 67,761 | 188,755 | 218,606 | 236,068 | 221,157 | 371,806 | 292,900 | 260,710 | 202,512 | 94,023 | 21,184 | 5,883 | 33,451 | 20,393 | 41,931 |
| Short-term investments | US$ in thousands | — | 47 | 1,739 | 4,284 | 51,554 | 51,700 | 55,625 | 57,309 | 57,121 | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 169,144 | 200,600 | 186,396 | 223,618 | 249,041 | 189,371 | 194,602 | 203,650 | 267,160 | 211,300 | 167,119 | 176,200 | 228,734 | 136,119 | 134,200 | 145,055 | 140,504 | 108,594 | 104,000 | 104,026 |
| Quick ratio | 4.33 | 3.67 | 3.59 | 2.45 | 1.45 | 0.63 | 1.26 | 1.35 | 1.10 | 1.05 | 2.22 | 1.66 | 1.14 | 1.49 | 0.70 | 0.15 | 0.04 | 0.31 | 0.20 | 0.40 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($732,604K
+ $—K
+ $—K)
÷ $169,144K
= 4.33
The quick ratio of MI Homes Inc. has shown a generally improving trend over the past eight quarters, indicating the company's increasing ability to meet its short-term obligations with its most liquid assets.
In Q4 2023, the quick ratio stood at 1.63, which was the highest among the quarters analyzed. This suggests that MI Homes Inc. had $1.63 of quick assets available to cover each dollar of current liabilities, reflecting a strong liquidity position at the end of the year.
The quick ratio experienced fluctuations in previous quarters, with values ranging from 0.36 in Q3 2022 to 1.45 in Q3 2023. The significant increase from 0.36 to 0.51 between Q3 and Q4 of 2022 could indicate improved management of short-term assets and liabilities during that period.
Overall, the upward trend in the quick ratio of MI Homes Inc. indicates a strengthening liquidity position and ability to meet its short-term financial obligations efficiently. However, it is essential to continue monitoring this ratio in conjunction with other financial metrics to assess the company's overall financial health effectively.
Peer comparison
Dec 31, 2023