Martin Marietta Materials Inc (MLM)
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 | 1,271,800 | 647,600 | 421,500 | 229,400 | 358,000 | 135,700 | 772,100 | 189,600 | 258,400 | 2,381,400 | 53,100 | 313,900 | 207,300 | 116,600 | 70,100 | 424,000 | 21,000 | 49,100 | 53,595 | 37,357 |
| Short-term investments | US$ in thousands | — | — | 702,300 | 702,300 | 704,600 | 704,600 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,170,200 | 1,141,100 | 1,442,400 | 1,328,000 | 1,445,600 | 1,419,700 | 761,400 | 712,900 | 752,600 | 601,200 | 758,000 | 448,800 | 499,300 | 506,200 | 595,300 | 1,075,600 | 838,500 | 688,982 | 822,216 | 757,637 |
| Cash ratio | 1.09 | 0.57 | 0.78 | 0.70 | 0.74 | 0.59 | 1.01 | 0.27 | 0.34 | 3.96 | 0.07 | 0.70 | 0.42 | 0.23 | 0.12 | 0.39 | 0.03 | 0.07 | 0.07 | 0.05 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,271,800K
+ $—K)
÷ $1,170,200K
= 1.09
The cash ratio of Martin Marietta Materials, Inc. has shown fluctuations over the last eight quarters. It increased from 0.30 in Q4 2022 to 1.16 in Q4 2023, indicating a significant improvement in the company's ability to cover its short-term liabilities with cash and cash equivalents.
Although the cash ratio decreased slightly in Q3 2023 to 0.64, it remained above 1.00, suggesting that the company had sufficient liquid assets to meet its immediate obligations comfortably. The ratio further dropped to 0.35 in Q2 2023 and 0.23 in Q1 2023, indicating a decline in the proportion of cash and cash equivalents relative to current liabilities.
In Q2 2022, Martin Marietta Materials, Inc. experienced a notably high cash ratio of 1.10, signifying a strong liquidity position. However, this ratio decreased in Q3 2022 to 0.16 and then fluctuated around 0.46 in Q1 2022.
Overall, the company's cash ratio has exhibited volatility, with periods of both improvement and decline. It would be important for stakeholders to monitor this ratio closely to assess the company's liquidity position and ability to meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023