MYR Group Inc (MYRG)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 24,899 | 51,040 | 82,092 | 22,668 | 12,397 |
| Short-term investments | US$ in thousands | — | — | — | 3,040 | — |
| Total current liabilities | US$ in thousands | 747,202 | 666,960 | 498,599 | 443,400 | 396,814 |
| Cash ratio | 0.03 | 0.08 | 0.16 | 0.06 | 0.03 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($24,899K
+ $—K)
÷ $747,202K
= 0.03
The cash ratio of MYR Group Inc has fluctuated over the past five years, ranging from 0.56 in 2020 to 0.73 in 2021. A cash ratio of 0.67 as of December 31, 2023, indicates that the company has $0.67 in cash and cash equivalents for every $1 of current liabilities.
A higher cash ratio implies that a company has more liquid assets available to cover its short-term obligations, which can be seen in 2021 with the ratio of 0.73. Conversely, a lower cash ratio, such as the 0.56 in 2020, suggests that the company may have less cash on hand relative to its current liabilities.
Overall, the cash ratio of MYR Group Inc has shown some variability over the years, and it is important for the company to maintain a healthy level of liquidity to meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023