Middleby Corp (MIDD)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 644,576 | 633,169 | 643,405 | — | 631,134 | — | — | — | 577,142 | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick ratio | 1.05 | 0.93 | 0.92 | 0.17 | 0.81 | 0.15 | 0.17 | 0.16 | 0.83 | 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
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($247,496K
+ $—K
+ $644,576K)
÷ $851,094K
= 1.05
The quick ratio of Middleby Corp has shown variations over the quarters, ranging from 0.14 to 1.29. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations with its most liquid assets.
In the latest quarter, the quick ratio was 1.05, suggesting that the company had $1.05 in liquid assets available to cover each $1 of current liabilities. This indicates a healthier liquidity position compared to some previous quarters.
Notably, there were significant fluctuations in the quick ratio over the quarters, with some periods displaying very low quick ratios, indicating potential liquidity challenges. Management should continue to monitor and manage the company's liquidity position to ensure it can meet its short-term obligations efficiently.
Peer comparison
Dec 31, 2023