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