Callaway Golf Company (MODG)
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 | 393,500 | 330,300 | 191,800 | 180,600 | 180,200 | 200,300 | 178,300 | 245,000 | 352,200 | 508,200 | 415,200 | 397,300 | 366,100 | 286,656 | 164,416 | 166,635 | 106,666 | 88,216 | 81,490 | 78,939 |
| Short-term investments | US$ in thousands | — | — | 7,400 | — | 4,400 | 3,400 | 1,100 | — | 21 | — | 4 | 7,250 | 19 | 111,442 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 947,600 | 909,200 | 932,600 | 1,074,600 | 1,176,200 | 1,039,000 | 1,036,300 | 1,156,500 | 866,000 | 840,155 | 787,632 | 696,339 | 391,272 | 371,410 | 343,620 | 648,908 | 523,246 | 407,905 | 461,791 | 518,238 |
| Cash ratio | 0.42 | 0.36 | 0.21 | 0.17 | 0.16 | 0.20 | 0.17 | 0.21 | 0.41 | 0.60 | 0.53 | 0.58 | 0.94 | 1.07 | 0.48 | 0.26 | 0.20 | 0.22 | 0.18 | 0.15 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($393,500K
+ $—K)
÷ $947,600K
= 0.42
The cash ratio of Topgolf Callaway Brands Corp has shown some fluctuations over the past eight quarters. Generally, a higher cash ratio is preferred as it indicates a company's ability to cover its short-term liabilities with cash and cash equivalents.
In the most recent quarter (Q4 2023), the cash ratio was at 0.55, which indicates that the company had $0.55 in cash and cash equivalents for every $1 of current liabilities. This suggests that Topgolf Callaway Brands Corp had a relatively strong ability to meet its short-term obligations using its cash resources.
Comparing Q4 2023 to the previous quarters, the cash ratio has shown an increasing trend since Q1 2023. This improvement may indicate better cash management practices or an increase in cash reserves over time.
It is worth noting that the cash ratio was highest in Q4 2023 compared to the preceding quarters, demonstrating the company's strengthening liquidity position. However, it is essential for investors and stakeholders to continue monitoring the cash ratio in the future to gauge the company's ability to handle its short-term financial commitments effectively.
Peer comparison
Dec 31, 2023