Callaway Golf Company (MODG)
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 | 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 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 207,100 | 309,900 | 404,100 | 465,800 | 184,500 | 279,700 | 385,100 | 427,500 | 124,850 | 255,223 | 325,275 | 328,841 | 139,111 | 246,971 | 230,628 | 280,578 | 150,374 | 239,381 | 279,069 | 294,690 |
| 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 |
| Quick ratio | 0.63 | 0.70 | 0.65 | 0.60 | 0.31 | 0.47 | 0.54 | 0.58 | 0.55 | 0.91 | 0.94 | 1.05 | 1.29 | 1.74 | 1.15 | 0.69 | 0.49 | 0.80 | 0.78 | 0.72 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($393,500K
+ $—K
+ $207,100K)
÷ $947,600K
= 0.63
The quick ratio of Topgolf Callaway Brands Corp has shown fluctuations over the past eight quarters. The ratio indicates the company's ability to meet its short-term obligations with its most liquid assets.
In Q4 2023, the quick ratio was 0.88, a slight decrease from the previous quarter's ratio of 0.95. This suggests that the company may have slightly fewer liquid assets compared to its current liabilities in this quarter.
Comparing to Q4 2022, where the quick ratio was notably lower at 0.46, the recent ratios appear to indicate an improvement in the company's ability to cover its short-term liabilities with its quick assets.
Overall, the company's quick ratio has been relatively volatile, with fluctuations seen quarter to quarter. It is essential for the company to continue monitoring and managing its liquidity position to ensure it can meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023