Enpro Industries (NPO)
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 | 369,800 | 329,800 | 374,900 | 336,100 | 334,400 | 166,200 | 222,100 | 293,400 | 338,100 | 330,000 | 261,900 | 232,300 | 229,500 | 441,000 | 424,300 | 391,000 | 121,200 | 112,100 | 124,300 | 130,900 |
| Short-term investments | US$ in thousands | — | 800 | 35,800 | 35,000 | 0 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 196,400 | 195,100 | 187,100 | 199,900 | 211,500 | 253,300 | 330,100 | 391,700 | 386,300 | 222,400 | 216,500 | 203,000 | 202,000 | 243,100 | 261,400 | 281,300 | 313,600 | 306,800 | 289,700 | 278,500 |
| Cash ratio | 1.88 | 1.69 | 2.20 | 1.86 | 1.58 | 0.66 | 0.67 | 0.75 | 0.88 | 1.48 | 1.21 | 1.14 | 1.14 | 1.81 | 1.62 | 1.39 | 0.39 | 0.37 | 0.43 | 0.47 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($369,800K
+ $—K)
÷ $196,400K
= 1.88
The cash ratio of Enpro Inc has shown fluctuations over the past eight quarters. In Q2 2023, the cash ratio reached its highest point at 2.49, indicating that the company had $2.49 in cash and cash equivalents for every dollar of current liabilities. This may suggest a strong liquidity position at that time. However, this ratio decreased in Q3 2023 to 1.90 before increasing again in Q4 2023 to 1.99.
Comparing these figures to the previous year, there has been a noticeable improvement in the cash ratio of Enpro Inc. In Q4 2022, the cash ratio was 1.79, which was lower than the ratios reported in the latter part of 2023. This may imply that Enpro Inc has been more effective in managing its liquidity and cash resources.
Overall, the trend in the cash ratio of Enpro Inc indicates a generally healthy liquidity position, with some fluctuations observed in recent quarters. Investors and stakeholders should continue to monitor this ratio to assess the company's ability to meet its short-term obligations with its available cash and cash equivalents.