Myers Industries Inc (MYE)

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	1.55	1.51	1.56	1.52	1.87	1.75	1.72	1.71	1.66	1.78	1.58	1.68	1.29	1.70	1.65	1.59	2.24	2.10	2.26	2.10
Quick ratio	0.87	0.87	0.90	0.91	1.14	0.97	0.96	1.01	0.89	1.02	0.88	0.98	0.79	1.27	1.19	1.16	1.67	1.57	1.71	1.59
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

Myers Industries Inc.'s liquidity ratios have exhibited some fluctuations over the past eight quarters.

The current ratio, which measures the company's ability to cover its short-term obligations with its current assets, has ranged from 1.51 to 1.87 during this period. The current ratio has generally been above 1, indicating that Myers Industries Inc. has had sufficient current assets to cover its current liabilities. However, there has been some variability in this ratio, with Q4 2022 showing a higher current ratio compared to the other quarters.

The quick ratio, a more stringent measure of liquidity that excludes inventory from current assets, has ranged from 0.92 to 1.19. This ratio has generally been lower than the current ratio, indicating that Myers Industries Inc. may rely on inventory to a certain extent to meet its short-term obligations. Q4 2022 had the highest quick ratio, suggesting a stronger ability to meet short-term obligations without relying on inventory.

The cash ratio, which represents the proportion of current liabilities that can be covered by cash and cash equivalents, has fluctuated between 0.15 and 0.25 over the period analyzed. This ratio has also been below 1, indicating that Myers Industries Inc. may not have sufficient cash on hand to cover all of its current liabilities. Q2 2023 had the highest cash ratio, suggesting a relatively stronger position in terms of cash liquidity.

Overall, while Myers Industries Inc. has generally maintained adequate liquidity levels to meet its short-term obligations, the fluctuations in these liquidity ratios indicate some variability in the company's ability to cover its liabilities with its current assets and cash reserves.

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	56.89	58.67	56.83	57.47	63.04	57.94	58.17	58.69	54.20	67.03	55.59	61.33	63.52	56.76	57.67	47.49	42.12	36.96	41.45	39.57

The cash conversion cycle of Myers Industries Inc. has shown a slight fluctuation over the last eight quarters. The company's cash conversion cycle ranged from a low of 58.59 days in Q1 2022 to a high of 65.99 days in Q4 2022. Overall, the cycle has been relatively stable, with changes within a narrow range.

The cash conversion cycle measures the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales. A lower cash conversion cycle indicates that the company is able to efficiently manage its working capital and generate cash quickly from its operations.

Myers Industries Inc. has generally maintained a cash conversion cycle below 60 days, indicating efficient working capital management. The company has shown a slightly longer cycle in the most recent quarters, possibly due to changes in inventory management, payment terms with suppliers, or collection of receivables.

Overall, the trend in the cash conversion cycle for Myers Industries Inc. suggests that the company is effectively managing its working capital to support its operations and maintain financial stability.