MSA Safety (MSA)

Cash ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cash and cash equivalents	US$ in thousands	164,560	154,371	148,835	148,329	148,408	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
Short-term investments	US$ in thousands	—	—	—	—	0	0	0	0	9,905	24,930	34,857	39,971	48,974	48,972	49,982	54,976	74,982	69,940	59,945	69,769
Total current liabilities	US$ in thousands	288,093	314,478	351,751	316,526	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
Cash ratio		0.57	0.49	0.42	0.47	0.45	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

December 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($164,560K + $—K) ÷ $288,093K
= 0.57

The cash ratio for MSA Safety indicates the company's ability to cover its short-term liabilities with its cash and cash equivalents. From the data provided, we observe fluctuations in the cash ratio over the periods analyzed.

The cash ratio has been relatively stable around the range of 0.4 to 0.8 over the years. It peaked at 0.78 on March 31, 2021, indicating a high level of cash and cash equivalents relative to current liabilities at that point. However, there was a decline in the cash ratio to 0.42 on June 30, 2024, before slightly rebounding to 0.57 on December 31, 2024.

Overall, the trend of the cash ratio suggests that MSA Safety has maintained a moderate level of liquidity to cover its short-term obligations. It is important for investors and stakeholders to monitor this ratio to ensure the company has sufficient liquid assets to meet its financial commitments in the short term.