MYR Group Inc (MYRG)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 3,464 | 24,899 | 51,040 | 82,092 | 22,668 |
| Short-term investments | US$ in thousands | — | — | — | — | 3,040 |
| Total current liabilities | US$ in thousands | 748,900 | 747,202 | 666,960 | 498,599 | 443,400 |
| Cash ratio | 0.00 | 0.03 | 0.08 | 0.16 | 0.06 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($3,464K
+ $—K)
÷ $748,900K
= 0.00
The cash ratio for MYR Group Inc has fluctuated over the past five years. As of December 31, 2020, the cash ratio was 0.06, indicating that for every dollar of current liabilities, the company had $0.06 in cash available.
There was a significant improvement in the cash ratio by December 31, 2021, where it increased to 0.16, demonstrating a better liquidity position compared to the previous year. However, by December 31, 2022, the ratio dropped to 0.08, showing a decrease in the company's ability to cover its short-term liabilities with cash on hand.
The cash ratio dropped further to 0.03 by December 31, 2023, indicating a significant decline in the company's liquidity position. By December 31, 2024, the cash ratio reached 0.00, suggesting that the company did not have enough cash on hand to cover its short-term liabilities.
Overall, the fluctuating trend in MYR Group Inc's cash ratio over the five-year period indicates varying levels of liquidity and the importance of closely monitoring the company's ability to meet its short-term obligations using its available cash reserves.
Peer comparison
Dec 31, 2024