N-Able Inc (NABL)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Cash | US$ in thousands | 153,048 | 98,847 | 66,736 |
| Short-term investments | US$ in thousands | — | — | — |
| Receivables | US$ in thousands | 48,014 | 42,612 | 40,291 |
| Total current liabilities | US$ in thousands | 81,717 | 61,814 | 60,878 |
| Quick ratio | 2.46 | 2.29 | 1.76 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($153,048K
+ $—K
+ $48,014K)
÷ $81,717K
= 2.46
The quick ratio of N-Able Inc has been gradually increasing over the past three years, indicating an improvement in the company's short-term liquidity position. As of December 31, 2023, the quick ratio stands at 2.46, compared to 2.29 in 2022 and 1.76 in 2021.
This trend suggests that N-Able Inc has a sufficient level of liquid assets to cover its current liabilities. A quick ratio above 1 indicates that the company can easily meet its short-term obligations using its most liquid assets, such as cash and accounts receivable.
The increase in the quick ratio over the years may indicate improved efficiency in managing working capital and reducing the reliance on short-term borrowing or other sources of liquidity. This favorable liquidity position could enhance N-Able Inc's ability to withstand unexpected financial challenges and capitalize on growth opportunities. Overall, a rising quick ratio reflects a positive liquidity trend for the company.
Peer comparison
Dec 31, 2023