NewJersey Resources Corporation (NJR)

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	2,739	954	511	27,095	2,407	1,107	27,693	13,906	1,259	4,749	4,719	57,654	22,358	117,012	42,821	25,968	15,666	2,676	26,297	83,160
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	0
Receivables	US$ in thousands	253,556	105,604	114,451	229,074	469,341	216,687	260,463	308,113	314,997	198,537	196,599	261,845	240,330	136,157	144,822	230,041	307,652	139,625	175,736	310,558
Total current liabilities	US$ in thousands	962,032	806,603	668,954	711,477	1,066,240	1,104,150	969,434	882,137	1,097,770	1,051,410	613,626	416,066	518,672	533,722	902,259	824,349	805,543	446,377	582,045	583,799
Quick ratio		0.27	0.13	0.17	0.36	0.44	0.20	0.30	0.37	0.29	0.19	0.33	0.77	0.51	0.47	0.21	0.31	0.40	0.32	0.35	0.67

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,739K + $—K + $253,556K) ÷ $962,032K
= 0.27

The quick ratio of New Jersey Resources Corporation has been fluctuating over the past few quarters, ranging from 0.38 to 0.71. This ratio indicates the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 suggests that the company may have difficulty meeting its short-term liabilities, as its current assets may not be sufficient to cover these obligations.

The quick ratio of 0.47 in Q1 2024 indicates that the company may be facing challenges in meeting its short-term obligations using its quick assets. The ratio of 0.50 in Q3 2023 and 0.53 in Q3 and Q2 2022 show some improvement, but it is important to note that the ratios are still below 1, signaling potential liquidity concerns. The highest ratio of 0.71 in Q2 2023 suggests a better ability to cover short-term liabilities with quick assets during that period.

Overall, the trend of the quick ratio for New Jersey Resources Corporation indicates inconsistent liquidity positions over the past few quarters, which may warrant further investigation into the company's short-term financial health and management of its current assets.