Materion Corporation (MTRN)
Quick 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 | US$ in thousands | 13,294 | 16,401 | 16,574 | 15,243 | 13,101 | 20,682 | 32,175 | 20,237 | 14,462 | 18,009 | 24,345 | 18,934 | 25,878 | 117,754 | 265,068 | 107,576 | 125,007 | 94,526 | 74,856 | 41,864 |
| Short-term investments | US$ in thousands | — | 5,047 | 4,922 | 3,725 | — | 2,798 | 1,329 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 192,747 | 186,177 | 188,166 | 207,998 | 215,211 | 238,975 | — | — | 223,553 | — | — | — | 166,447 | 150,454 | 146,527 | 138,803 | 154,751 | 165,477 | 142,327 | 144,952 |
| Total current liabilities | US$ in thousands | 254,995 | 217,205 | 233,250 | 245,817 | 238,964 | 202,290 | 210,225 | 201,461 | 204,509 | 172,769 | 161,227 | 147,435 | 126,884 | 251,626 | 268,528 | 113,670 | 122,440 | 126,975 | 125,037 | 131,156 |
| Quick ratio | 0.81 | 0.96 | 0.90 | 0.92 | 0.96 | 1.30 | 0.16 | 0.10 | 1.16 | 0.10 | 0.15 | 0.13 | 1.52 | 1.07 | 1.53 | 2.17 | 2.28 | 2.05 | 1.74 | 1.42 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($13,294K
+ $—K
+ $192,747K)
÷ $254,995K
= 0.81
The quick ratio of Materion Corp has shown some fluctuation over the past eight quarters. In Q3 2022, the quick ratio was at its highest at 1.43, indicating a strong ability to cover its short-term obligations with its most liquid assets. However, this was followed by a downward trend, reaching its lowest point of 1.04 in Q2 2023.
The most recent quick ratio of 1.05 in Q4 2023 reflects an improvement from the previous quarter but remains slightly below the ideal quick ratio of 1. As such, Materion Corp may need to closely monitor its liquidity position to ensure it can meet its short-term obligations comfortably in the upcoming periods.