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.