Minerals Technologies Inc (MTX)

Liquidity ratios

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
Current ratio 2.40 2.31 2.29 2.17 2.13 2.18 2.29 2.40 2.45 2.43 3.69 3.62 3.49 3.85 1.74 2.35 2.31 2.24 2.30 2.31
Quick ratio 1.58 1.47 1.43 0.50 1.31 0.46 0.51 0.64 1.60 0.74 1.39 1.30 1.26 1.40 0.47 0.57 0.61 0.52 0.54 0.53
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

Minerals Technologies, Inc. has demonstrated strong liquidity over the past eight quarters as indicated by its current ratio, quick ratio, and cash ratio. The current ratio has remained above 2.0, reflecting the company's ability to cover its short-term obligations with current assets. The company's current ratio ranged from 2.13 to 2.40 during this period, suggesting a consistently healthy liquidity position.

The quick ratio, which provides a more conservative measure of liquidity by excluding inventory from current assets, was also above 1.0 in all quarters. This ratio ranged from 1.44 to 1.69, indicating that the company has a sufficient level of liquid assets to cover its immediate liabilities without relying on inventory sales.

Moreover, the cash ratio, which is the most stringent measure of liquidity as it considers only cash and cash equivalents, was consistently above 0.60 throughout the quarters. The cash ratio varied from 0.63 to 0.82, highlighting Minerals Technologies, Inc.'s ability to meet its short-term obligations using its readily available cash resources.

Overall, the liquidity ratios of Minerals Technologies, Inc. show a stable and strong financial position, with ample resources to meet its short-term financial commitments.

Additional liquidity measure

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 conversion cycle days 94.85 101.50 102.66 28.50 101.29 26.81 24.90 25.12 96.70 22.50 20.58 20.42 26.26 30.15 33.10 22.24 21.03 18.95 16.38 18.07

The cash conversion cycle of Minerals Technologies, Inc. has ranged from 97.14 days to 105.70 days over the past eight quarters, reflecting the efficiency of the company in managing its operating cycle. A lower number indicates that the company is able to convert its investments in raw materials into finished goods and ultimately into cash more quickly.

The trend in the cash conversion cycle has been relatively stable, with minor fluctuations observed quarter to quarter. Overall, the company has maintained a consistent level of efficiency in managing its working capital requirements.

It is important for Minerals Technologies, Inc. to continue monitoring and optimizing its cash conversion cycle to ensure effective management of its liquidity and working capital. By efficiently managing the timing of its cash inflows and outflows, the company can improve its overall financial performance and strengthen its position in the market.