Marten Transport Ltd (MRTN)

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	53,213	68,067	80,528	96,288	80,600	71,492	68,374	66,527	56,995	83,900	80,672	88,583	66,127	88,279	75,323	36,136	31,461	40,480	82,792	85,526
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	110,242	121,644	131,020	119,602	124,310	125,457	130,717	109,382	93,559	152,271	106,989	97,851	89,794	87,947	87,579	91,126	76,326	84,930	85,176	79,542
Cash ratio		0.48	0.56	0.61	0.81	0.65	0.57	0.52	0.61	0.61	0.55	0.75	0.91	0.74	1.00	0.86	0.40	0.41	0.48	0.97	1.08

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($53,213K + $—K) ÷ $110,242K
= 0.48

The cash ratio of Marten Transport, Ltd. has demonstrated some fluctuations over the past eight quarters. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.

In Q1 2023, the cash ratio was 1.01, indicating the company had $1.01 in cash and cash equivalents for every $1 of its short-term liabilities. This suggests a strong liquidity position during that period. However, in Q4 2023, the cash ratio decreased to 0.63, reflecting a decline in liquidity compared to the previous quarter.

Overall, the cash ratio has generally been above 0.70 over the past eight quarters, except for Q4 2023. This indicates that Marten Transport, Ltd. has maintained a relatively healthy level of liquidity to meet its short-term obligations. However, the fluctuations in the cash ratio should be further examined to understand the underlying reasons and potential implications for the company's financial health and operational efficiency.