Middleby Corp (MIDD)
Quick 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 | 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 | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick 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
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($689,533K
+ $—K
+ $—K)
÷ $829,322K
= 0.83
Middleby Corp's quick ratio, which measures the company's ability to cover its short-term liabilities with its most liquid assets, has shown some fluctuations over the data period provided.
The quick ratio started at a relatively low value of 0.63 as of March 31, 2020, indicating potential liquidity concerns. However, it improved significantly to 1.29 as of June 30, 2020, suggesting better short-term liquidity. Subsequently, the ratio dropped to 0.37 by September 30, 2020, and remained relatively stable around the 0.3 to 0.4 range for the next few quarters.
There was a slight increase in the quick ratio to 0.54 by June 30, 2021, indicating a temporary improvement in liquidity. However, the ratio decreased to 0.15 as of September 30, 2022, highlighting potential liquidity challenges. The quick ratio gradually recovered and reached higher levels by the end of 2024, with a ratio of 0.83 as of December 31, 2024.
Overall, the trend in Middleby Corp's quick ratio suggests fluctuations in short-term liquidity levels over the data period, with some periods of improvement followed by declines. Investors and analysts may want to further investigate the factors contributing to these fluctuations to assess the company's liquidity risk and financial health.
Peer comparison
Dec 31, 2024