MYR Group Inc (MYRG)
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 | 24,899 | 30,471 | 22,850 | 47,039 | 51,040 | 35,767 | 22,057 | 18,732 | 82,092 | 73,006 | 68,322 | 73,069 | 22,668 | 18,946 | 9,991 | 33,997 | 12,397 | 9,145 | 4,355 | 1,338 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 3,786 | 4,580 | 3,040 | 3,040 | 4,972 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 747,202 | 740,651 | 684,560 | 624,845 | 666,960 | 585,014 | 565,406 | 498,264 | 498,599 | 455,701 | 469,879 | 447,824 | 443,400 | 459,554 | 403,534 | 378,244 | 396,814 | 393,521 | 304,100 | 293,560 |
| Cash ratio | 0.03 | 0.04 | 0.03 | 0.08 | 0.08 | 0.06 | 0.04 | 0.04 | 0.16 | 0.17 | 0.16 | 0.17 | 0.06 | 0.05 | 0.02 | 0.09 | 0.03 | 0.02 | 0.01 | 0.00 |
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 measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger liquidity position.
Based on the data provided, MYR Group Inc's cash ratio has been relatively stable over the past eight quarters, ranging from 0.61 to 0.68. This indicates that the company has maintained a consistent ability to cover its short-term liabilities with its cash reserves.
Although the cash ratio has fluctuated slightly, it remains within a narrow range, suggesting that MYR Group Inc has effectively managed its cash position. A cash ratio above 1 would indicate that the company has more cash on hand than its short-term liabilities, while a ratio below 1 signals a potential liquidity issue.
Overall, MYR Group Inc's cash ratio of around 0.65 to 0.68 over the past quarters indicates a moderate level of liquidity, which is important for meeting its short-term financial obligations. Further analysis in conjunction with other financial ratios and metrics would provide a more comprehensive view of the company's financial health and liquidity position.
Peer comparison
Dec 31, 2023