Middlesex Water Company (MSEX)

Quick 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	US$ in thousands	4,226	6,344	8,025	2,855	2,390	2,970	4,377	4,862	3,828	2,908	4,320	3,294	3,533	5,282	6,026	4,046	4,491	5,346	13,196	15,419
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	29,606	36,121	32,703	27,044	27,469	30,306	26,297	24,186	24,677	29,103	24,918	21,628	22,584	26,102	22,097	19,919	21,634	24,390	21,558	17,525
Total current liabilities	US$ in thousands	82,888	79,912	134,983	117,156	103,829	121,303	87,563	95,978	117,859	92,967	78,829	59,669	56,619	92,494	80,745	65,801	56,848	85,354	84,294	80,539
Quick ratio		0.41	0.53	0.30	0.26	0.29	0.27	0.35	0.30	0.24	0.34	0.37	0.42	0.46	0.34	0.35	0.36	0.46	0.35	0.41	0.41

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($4,226K + $—K + $29,606K) ÷ $82,888K
= 0.41

Middlesex Water Company's quick ratio has fluctuated over the past several years, ranging from a low of 0.24 to a high of 0.53. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities without selling inventory or obtaining additional financing.

The trend in Middlesex Water Company's quick ratio shows some volatility, with periodic improvements followed by declines in liquidity. The ratio improved in the second half of 2024, reaching 0.41 by December 31, 2024. However, it is essential to monitor the quick ratio closely to ensure the company maintains a healthy level of liquidity to meet its short-term obligations effectively.