Middleby Corp (MIDD)

Cash 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 and cash equivalents US$ in thousands 247,496 167,189 157,279 156,524 162,001 144,918 166,589 146,676 180,362 251,476 395,562 309,331 268,103 220,310 649,720 381,043 94,500 87,181 81,687 81,210
Short-term investments US$ in thousands 3,288 7,286 7,034 6,805 1,448
Total current liabilities US$ in thousands 851,094 864,247 878,405 990,309 988,284 937,778 976,414 918,401 914,888 822,836 731,837 714,437 700,258 596,994 504,553 607,232 593,137 585,244 565,297 561,557
Cash ratio 0.29 0.20 0.19 0.17 0.17 0.15 0.17 0.16 0.20 0.31 0.54 0.43 0.38 0.37 1.29 0.63 0.16 0.15 0.14 0.14

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($247,496K + $—K) ÷ $851,094K
= 0.29

The cash ratio of Middleby Corp has fluctuated over the past few quarters. The ratio indicates the company's ability to cover its short-term liabilities with its cash and cash equivalents.

In the most recent quarter, at Dec 31, 2023, the cash ratio stood at 0.29, a slight increase compared to the previous quarter. This implies that Middleby Corp had $0.29 in cash and cash equivalents for every dollar of its current liabilities as of the end of December 2023.

Looking back at historical data, the cash ratio has shown some variability, with values ranging from as low as 0.14 in Mar 31, 2019, to as high as 1.29 in Jun 30, 2020. The significant increase in the cash ratio in Jun 30, 2020, may indicate a period of strong liquidity for the company.

Overall, fluctuations in the cash ratio may reflect changes in Middleby Corp's cash position and short-term liabilities over time. It is essential for investors and stakeholders to monitor this ratio to assess the company's liquidity and ability to meet its short-term obligations.


Peer comparison

Dec 31, 2023