Myers Industries Inc (MYE)
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 | 30,290 | 24,768 | 30,692 | 28,241 | 23,139 | 20,424 | 22,434 | 17,576 | 17,655 | 14,829 | 13,543 | 16,666 | 28,301 | 83,746 | 72,322 | 73,214 | 75,527 | 74,814 | 75,205 | 67,316 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 165,107 | 163,879 | 164,307 | 175,209 | 137,762 | 153,327 | 160,051 | 149,015 | 132,500 | 128,045 | 127,148 | 113,690 | 142,247 | 124,986 | 120,443 | 119,755 | 82,625 | 89,278 | 86,565 | 87,483 |
| Cash ratio | 0.18 | 0.15 | 0.19 | 0.16 | 0.17 | 0.13 | 0.14 | 0.12 | 0.13 | 0.12 | 0.11 | 0.15 | 0.20 | 0.67 | 0.60 | 0.61 | 0.91 | 0.84 | 0.87 | 0.77 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($30,290K
+ $—K)
÷ $165,107K
= 0.18
The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. Myers Industries Inc.'s cash ratio has fluctuated over the past eight quarters, ranging from 0.15 to 0.25.
The company's cash ratio was at its lowest in Q1 2022 at 0.15, indicating that for every dollar of short-term liabilities, Myers Industries had $0.15 in cash and cash equivalents available. This suggests a relatively lower liquidity position at that time.
In comparison, the cash ratio improved in Q2 2023 to 0.25, reflecting an increase in the company's ability to cover its short-term obligations with cash reserves. This may indicate stronger liquidity management or an increase in available cash during that period.
Overall, while the cash ratio has shown fluctuations, it is essential for stakeholders to monitor this metric closely to assess Myers Industries Inc.'s short-term liquidity position and ability to meet its immediate financial obligations.
Peer comparison
Dec 31, 2023