Minerals Technologies Inc (MTX)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 317,200 | 247,200 | 299,500 | 367,700 | 241,600 |
| Short-term investments | US$ in thousands | 4,300 | 5,600 | 4,900 | 4,100 | 1,600 |
| Total current liabilities | US$ in thousands | 457,300 | 502,600 | 419,800 | 295,800 | 398,500 |
| Cash ratio | 0.70 | 0.50 | 0.73 | 1.26 | 0.61 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($317,200K
+ $4,300K)
÷ $457,300K
= 0.70
The cash ratio of Minerals Technologies, Inc. has fluctuated over the past five years, as follows:
- In 2023, the cash ratio was 0.82, indicating that the company had $0.82 of cash and cash equivalents for every $1 of current liabilities, showing a slight improvement from the previous year.
- In 2022, the cash ratio was 0.63, reflecting a decrease in the company's ability to cover its short-term obligations solely with cash and cash equivalents.
- In 2021, the cash ratio was 0.86, suggesting a higher level of liquidity compared to the previous year, as the company had $0.86 in cash and cash equivalents for each dollar of current liabilities.
- In 2020, the cash ratio was 1.41, signaling a significant increase in liquidity, with the company having more than enough cash to cover its short-term obligations.
- In 2019, the cash ratio stood at 0.73, indicating a lower level of liquidity compared to the following years, as the company had $0.73 of cash and cash equivalents for every dollar of current liabilities.
Overall, the fluctuation in the cash ratio of Minerals Technologies, Inc. over the past five years suggests varying levels of liquidity and the company's ability to meet its short-term obligations using cash and cash equivalents.
Peer comparison
Dec 31, 2023