Myers Industries Inc (MYE)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 113,907 | 117,362 | 116,771 | 130,616 | 133,716 | 128,839 | 132,002 | 132,689 | 100,691 | 116,150 | 98,610 | 94,619 | 83,701 | 75,539 | 71,270 | 65,255 | 62,279 | 65,129 | 73,120 | 71,914 |
| 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 |
| 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 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($30,290K
+ $—K
+ $113,907K)
÷ $165,107K
= 0.87
The quick ratio of Myers Industries Inc. has fluctuated over the past eight quarters, ranging from a low of 0.92 to a high of 1.19. The quick ratio measures the ability of a company to meet its short-term liabilities with its most liquid assets. A quick ratio of 1.00 indicates that the company has just enough liquid assets to cover its current liabilities.
A quick ratio above 1.00 is generally considered healthy, as it suggests the company has more than enough liquid assets to cover its short-term obligations. On the other hand, a quick ratio below 1.00 may indicate potential liquidity issues, as the company may struggle to meet its short-term liabilities without relying on additional financing or asset sales.
The downward trend in the quick ratio from Q4 2022 to Q3 2023 may raise concerns about the company's liquidity position. It is important for investors and stakeholders to monitor the quick ratio closely to assess the company's ability to manage its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023