Enpro Industries (NPO)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | -2,000 | — | — | — | -2,900 | — | — | — | 5,600 | 42,700 | 51,900 | 50,300 | 45,500 | — | — | — | 25,000 | 38,500 | 36,500 | 32,700 |
| 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 |
| Quick ratio | 1.87 | 1.69 | 2.20 | 1.86 | 1.57 | 0.66 | 0.67 | 0.75 | 0.89 | 1.68 | 1.45 | 1.39 | 1.36 | 1.81 | 1.62 | 1.39 | 0.47 | 0.49 | 0.56 | 0.59 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($369,800K
+ $—K
+ $-2,000K)
÷ $196,400K
= 1.87
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates a stronger liquidity position.
In Q4 2023, Enpro Inc's quick ratio was 2.59, which was an improvement from the previous quarter's 2.51. This suggests that Enpro Inc had $2.59 in quick assets available to cover each $1 of current liabilities, which reflects a healthy liquidity position.
Comparing the Q4 2023 quick ratio to the same period in the previous year, there has been a noticeable improvement. In Q4 2022, the quick ratio was lower at 2.44. This upward trend in the quick ratio indicates that Enpro Inc's liquidity position has strengthened over the past year.
Furthermore, the quick ratio has generally been above 1 in all quarters, indicating that Enpro Inc has had more than enough quick assets to cover its short-term liabilities. This suggests that Enpro Inc is in a strong position to meet its current obligations without relying heavily on inventory or potentially less liquid assets.
Overall, Enpro Inc's quick ratio has shown consistent improvement and remains at healthy levels, indicating a strong liquidity position that bodes well for the company's ability to meet its short-term financial obligations.