N-Able Inc (NABL)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 153,048 | 98,847 | 66,736 |
| Short-term investments | US$ in thousands | — | — | — |
| Total current liabilities | US$ in thousands | 81,717 | 61,814 | 60,878 |
| Cash ratio | 1.87 | 1.60 | 1.10 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($153,048K
+ $—K)
÷ $81,717K
= 1.87
The cash ratio of N-Able Inc has shown a steady increase over the past three years. As of December 31, 2023, the cash ratio stands at 1.87, significantly higher than the ratios of 1.60 in 2022 and 1.10 in 2021. This upward trend indicates that the company has been able to improve its ability to cover its short-term liabilities with cash and cash equivalents. A higher cash ratio is generally considered favorable as it suggests a stronger liquidity position and a lower risk of financial distress. N-Able Inc's increasing cash ratio over the years reflects a positive liquidity management strategy that is beneficial for the company's financial health and stability.
Peer comparison
Dec 31, 2023