MYR Group Inc (MYRG)
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 | 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 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 541,932 | 562,978 | 495,302 | 434,186 | 493,704 | 455,913 | 428,902 | 403,138 | 398,627 | 381,605 | 413,618 | 384,866 | 404,869 | 410,849 | 350,643 | 360,255 | 402,966 | 534,823 | 432,825 | 437,820 |
| 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 |
| Quick ratio | 0.76 | 0.80 | 0.76 | 0.77 | 0.82 | 0.84 | 0.80 | 0.85 | 0.96 | 1.01 | 1.04 | 1.03 | 0.97 | 0.95 | 0.89 | 1.04 | 1.05 | 1.38 | 1.44 | 1.50 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($24,899K
+ $—K
+ $541,932K)
÷ $747,202K
= 0.76
The quick ratio of MYR Group Inc has been relatively stable over the past eight quarters, ranging from 1.33 to 1.44. This indicates that the company has a healthy ability to meet its short-term obligations using its most liquid assets, such as cash and accounts receivable, without relying on inventory.
The quick ratio exceeding 1 suggests that MYR Group Inc has an adequate level of liquid assets to cover its current liabilities, which enhances its short-term financial health and liquidity position. This consistency in the quick ratio reflects a sound financial management strategy, as the company is able to quickly convert its assets into cash to meet its short-term financial obligations.
Overall, the trend in MYR Group Inc's quick ratio portrays a stable and healthy liquidity position, indicating the company's ability to manage its short-term financial commitments effectively.
Peer comparison
Dec 31, 2023