Middleby Corp (MIDD)
Cash ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 689,533 | 606,004 | 459,457 | 341,018 | 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 |
| Short-term investments | US$ in thousands | — | — | 1,181 | 1,630 | 2,897 | 3,288 | 7,286 | 7,034 | 6,805 | — | 1,448 | 623 | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 829,322 | 814,712 | 856,863 | 840,883 | 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 |
| Cash ratio | 0.83 | 0.74 | 0.54 | 0.41 | 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 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($689,533K
+ $—K)
÷ $829,322K
= 0.83
Middleby Corp's cash ratio has shown fluctuations over the past few years. The ratio indicates the company's ability to cover its short-term liabilities with its cash and cash equivalents.
From March 31, 2020, to December 31, 2021, the cash ratio ranged between 0.16 and 1.29, indicating some volatility in the company's cash position during this period. However, the ratio generally stayed below 1, suggesting that Middleby Corp may not have enough cash on hand to cover its short-term obligations fully.
From March 31, 2022, to December 31, 2024, the cash ratio stabilized between 0.17 and 0.83. This range indicates that the company improved its ability to meet short-term obligations with available cash over this period.
Overall, Middleby Corp's cash ratio has shown variability but trended towards a more stable range in recent years, signaling a potentially improved liquidity position. However, it is essential for investors and analysts to monitor the cash ratio regularly to assess the company's liquidity risk.
Peer comparison
Dec 31, 2024