Minerals Technologies Inc (MTX)
Cash 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 and cash equivalents | US$ in thousands | 317,200 | 268,400 | 247,100 | 249,700 | 247,200 | 224,100 | 234,700 | 288,000 | 299,500 | 309,900 | 403,600 | 371,400 | 367,700 | 379,000 | 232,800 | 214,300 | 241,600 | 213,000 | 214,500 | 202,700 |
| Short-term investments | US$ in thousands | 4,300 | 9,800 | 8,300 | 6,200 | 5,600 | 2,300 | 2,000 | 5,100 | 4,900 | 1,400 | 5,300 | 4,300 | 4,100 | 2,800 | 5,400 | 3,800 | 1,600 | 1,500 | 5,200 | 4,300 |
| Total current liabilities | US$ in thousands | 457,300 | 473,500 | 472,200 | 513,000 | 502,600 | 493,500 | 465,900 | 455,100 | 419,800 | 423,300 | 293,900 | 288,800 | 295,800 | 272,000 | 509,000 | 381,500 | 398,500 | 409,900 | 405,600 | 390,800 |
| Cash ratio | 0.70 | 0.59 | 0.54 | 0.50 | 0.50 | 0.46 | 0.51 | 0.64 | 0.73 | 0.74 | 1.39 | 1.30 | 1.26 | 1.40 | 0.47 | 0.57 | 0.61 | 0.52 | 0.54 | 0.53 |
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 shown fluctuations over the past eight quarters. The cash ratio, which measures a company's ability to cover its short-term liabilities with its cash and cash equivalents, has ranged from 0.60 to 0.82 over this period.
In Q4 2023, the cash ratio was 0.82, indicating that the company had $0.82 in cash and cash equivalents for every dollar of current liabilities. This ratio was higher compared to the previous three quarters, suggesting an improvement in the company's liquidity position.
Prior to Q4 2023, the cash ratio had been on a downward trend, reaching a low of 0.60 in Q3 2022. The increase in the cash ratio in Q4 2023 may be attributed to a higher level of cash holdings relative to its current liabilities or a reduction in short-term obligations during that period.
It is important to monitor the cash ratio of Minerals Technologies, Inc. over time to assess its liquidity and ability to meet its short-term financial obligations. An increasing cash ratio generally indicates a stronger liquidity position, while a decreasing ratio may raise concerns about the company's ability to pay its current liabilities.
Peer comparison
Dec 31, 2023