NV5 Global Inc (NVEE)
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 | 44,824 | 46,439 | 28,827 | 31,341 | 38,541 | 54,171 | 44,422 | 81,948 | 47,980 | 121,397 | 113,023 | 92,925 | 64,909 | 64,022 | 65,212 | 38,326 | 31,825 | 31,425 | 44,436 | 45,814 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 159,419 | 193,610 | 166,529 | 168,727 | 160,894 | 163,874 | 156,228 | 152,862 | 163,951 | 135,805 | 134,198 | 136,331 | 136,186 | 113,334 | 119,236 | 109,389 | 114,358 | 80,182 | 76,618 | 72,968 |
| Cash ratio | 0.28 | 0.24 | 0.17 | 0.19 | 0.24 | 0.33 | 0.28 | 0.54 | 0.29 | 0.89 | 0.84 | 0.68 | 0.48 | 0.56 | 0.55 | 0.35 | 0.28 | 0.39 | 0.58 | 0.63 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($44,824K
+ $—K)
÷ $159,419K
= 0.28
The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. The cash ratio for NV5 Global Inc has displayed some fluctuations over the past few quarters.
In the most recent quarter, the cash ratio stood at 0.28, indicating that the company had $0.28 of cash and cash equivalents for every $1 of current liabilities. This suggests that NV5 Global Inc may have faced some liquidity challenges in meeting its short-term obligations in that period.
Comparing the current cash ratio to historical data, there has been a downward trend since the peak in September 2021 when the ratio was noted at 0.89. This declining trend could indicate a decrease in the company's cash position relative to its short-term liabilities over time.
It is important for stakeholders to keep track of NV5 Global Inc's cash ratio and assess the company's ability to manage its liquidity effectively in order to avoid potential financial distress.
Peer comparison
Dec 31, 2023