Minerals Technologies Inc (MTX)
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 | 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 |
| Receivables | US$ in thousands | 399,100 | 418,300 | 419,800 | — | 404,000 | — | — | — | 367,800 | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| 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 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($317,200K
+ $4,300K
+ $399,100K)
÷ $457,300K
= 1.58
Minerals Technologies, Inc.'s quick ratio has exhibited some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.
The quick ratio has generally been above 1, indicating that the company has an adequate level of liquid assets to cover its short-term liabilities. A quick ratio of 1.69 in Q4 2023 signifies that the company had $1.69 of liquid assets available to cover each $1 of its current liabilities. This suggests a strong liquidity position for the company at the end of 2023.
The trend of the quick ratio has been relatively stable, with minor fluctuations within the range of 1.44 to 1.69 over the quarters analyzed. This indicates that Minerals Technologies, Inc. has maintained a consistent ability to meet its short-term obligations with its readily available assets.
Overall, the upward trend in the quick ratio from Q1 2022 to Q4 2023 reflects an improvement in the company's short-term liquidity position. However, further analysis and consideration of other financial metrics are recommended to gain a more comprehensive understanding of Minerals Technologies, Inc.'s overall financial health.
Peer comparison
Dec 31, 2023