MasTec Inc (MTZ)
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 | 529,561 | 214,174 | 119,905 | 141,560 | 370,592 | 95,676 | 138,929 | 233,133 | 360,736 | 239,924 | 237,271 | 512,407 | 423,118 | 238,174 | 48,638 | 71,663 | 71,427 | 43,095 | 59,176 | 43,194 |
| Short-term investments | US$ in thousands | — | — | — | — | 200 | 1,000 | 1,000 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 2,837,220 | 2,811,290 | 2,440,840 | 2,378,540 | 2,496,040 | 1,986,480 | 1,897,690 | 1,866,040 | 1,784,600 | 1,704,310 | 1,638,990 | 1,632,900 | 1,415,200 | 1,514,150 | 1,523,390 | 1,260,030 | 1,219,130 | 1,334,500 | 1,391,200 | 1,262,650 |
| Cash ratio | 0.19 | 0.08 | 0.05 | 0.06 | 0.15 | 0.05 | 0.07 | 0.12 | 0.20 | 0.14 | 0.14 | 0.31 | 0.30 | 0.16 | 0.03 | 0.06 | 0.06 | 0.03 | 0.04 | 0.03 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($529,561K
+ $—K)
÷ $2,837,220K
= 0.19
The cash ratio of MasTec Inc has fluctuated over the last several quarters. The cash ratio measures the company's ability to cover its short-term obligations with its cash and cash equivalents. A higher cash ratio indicates a higher liquidity level and a stronger ability to meet immediate financial obligations.
Looking at the trend in MasTec Inc's cash ratio, we observe that the ratio has experienced variability throughout the periods analyzed. There was an increase in the cash ratio from December 2020 to March 2021, reaching a high of 0.31, which suggests a significant improvement in liquidity during that period.
However, the cash ratio dropped in the following quarters but remained above 0.10, indicating a generally healthy level of liquidity. The most recent cash ratio of 0.19 as of December 31, 2023, suggests that MasTec Inc had sufficient cash reserves to cover 19% of its current liabilities, which may be an area to monitor for potential liquidity concerns.
Overall, MasTec Inc's cash ratio indicates a fluctuating yet generally stable liquidity position over the analyzed periods, with efforts needed to manage cash levels effectively in order to ensure the company's ability to meet its short-term obligations.
Peer comparison
Dec 31, 2023