MSA Safety (MSA)

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	146,442	164,499	146,897	138,906	162,902	159,613	134,047	147,300	140,895	117,302	174,078	184,728	160,672	132,830	136,238	122,629	152,195	108,481	111,511	107,668
Short-term investments	US$ in thousands	—	—	—	—	9,905	24,930	34,857	39,971	48,974	48,972	49,982	54,976	74,982	69,940	59,945	69,769	49,892	72,166	72,461	73,619
Total current liabilities	US$ in thousands	332,818	325,401	299,950	292,531	345,865	349,138	336,258	333,937	330,606	336,821	317,841	306,727	310,545	284,658	293,358	264,218	277,509	262,208	257,517	266,270
Cash ratio		0.44	0.51	0.49	0.47	0.50	0.53	0.50	0.56	0.57	0.49	0.70	0.78	0.76	0.71	0.67	0.73	0.73	0.69	0.71	0.68

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($146,442K + $—K) ÷ $332,818K
= 0.44

The cash ratio of MSA Safety Inc has been relatively stable over the past eight quarters, ranging from 0.56 to 0.71. The trend shows a slight decline in recent quarters, with a peak of 0.71 in Q1 2022 and a low of 0.56 in Q4 2023.

The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates that a company has a greater ability to cover its short-term obligations, while a lower ratio may signal potential liquidity challenges.

MSA Safety Inc's cash ratio fluctuates within a relatively narrow range, suggesting that the company has maintained a consistent level of liquidity over the periods analyzed. However, the recent decline in the cash ratio may warrant further investigation to assess any potential impact on the company's short-term financial stability.