Madison Square Garden Sports Corp (MSGS)
Quick ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 89,136 | 40,033 | 37,880 | 51,208 | 40,398 | 65,182 | 43,912 | 81,036 | 91,018 | 49,176 | 54,815 | 33,610 | 64,902 | 69,128 | 70,762 | 23,527 | 77,852 | 2,400 | 2,425 | 1,643 |
| Short-term investments | US$ in thousands | — | — | — | 31,638 | 36,814 | — | — | — | 2,736 | — | — | — | — | — | 38 | — | — | 331,019 | 113,020 | 104,597 |
| Receivables | US$ in thousands | — | — | — | — | — | 106,888 | 98,560 | 58,374 | 75,573 | 144,085 | 111,488 | 64,417 | 80,617 | 87,566 | 36,832 | 24,369 | 7,538 | 133,122 | 132,640 | 122,408 |
| Total current liabilities | US$ in thousands | 521,982 | 526,555 | 560,437 | 553,727 | 520,528 | 510,564 | 482,960 | 522,148 | 438,299 | 454,487 | 451,798 | 429,773 | 368,278 | 348,553 | 348,148 | 312,444 | 290,254 | 886,722 | 870,005 | 860,222 |
| Quick ratio | 0.17 | 0.08 | 0.07 | 0.15 | 0.15 | 0.34 | 0.29 | 0.27 | 0.39 | 0.43 | 0.37 | 0.23 | 0.40 | 0.45 | 0.31 | 0.15 | 0.29 | 0.53 | 0.29 | 0.27 |
June 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($89,136K
+ $—K
+ $—K)
÷ $521,982K
= 0.17
Madison Square Garden Sports Corp's quick ratio has fluctuated over the past several quarters, indicating varying levels of liquidity and ability to meet short-term obligations. The quick ratio, which measures the company's ability to cover immediate liabilities with its most liquid assets, stood at 0.17 as of June 30, 2024, showing a slight improvement from the previous quarter. However, the company's quick ratio remains relatively low compared to historical levels.
The quick ratio was particularly weak in March 2023 at 0.07, raising concerns about the company's short-term financial health. Subsequently, the ratio improved significantly in the following quarter to 0.34, indicating a better ability to meet short-term obligations.
While the quick ratio improved further in some quarters, reaching a high of 0.53 in March 2020, it has also experienced fluctuations, suggesting inconsistencies in the company's liquidity management. Investors and creditors may be monitoring these fluctuations closely to assess the company's ability to manage its short-term financial obligations effectively.
Overall, Madison Square Garden Sports Corp's quick ratio trend indicates a need for careful monitoring of liquidity levels to ensure the company can meet its short-term obligations without relying heavily on selling inventory or other assets.
Peer comparison
Jun 30, 2024