NV5 Global Inc (NVEE)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 44,824 | 38,541 | 47,980 | 64,909 | 31,825 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 152,593 | 145,637 | 153,814 | 142,705 | 131,041 |
| Total current liabilities | US$ in thousands | 159,419 | 160,894 | 163,951 | 136,186 | 114,358 |
| Quick ratio | 1.24 | 1.14 | 1.23 | 1.52 | 1.42 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($44,824K
+ $—K
+ $152,593K)
÷ $159,419K
= 1.24
The quick ratio of NV5 Global Inc has exhibited fluctuations over the past five years. The ratio measures the company's ability to cover its short-term liabilities with its most liquid assets. A quick ratio above 1.0 indicates that the company has sufficient liquid assets to cover its current liabilities.
In 2023, the quick ratio of NV5 Global Inc stood at 1.24, which was higher than the previous year's ratio of 1.14. This suggests an improvement in the company's liquidity position in 2023 compared to 2022. However, when compared to the ratios from 2021 (1.23), 2020 (1.52), and 2019 (1.42), the 2023 quick ratio was relatively in line or slightly higher.
The fluctuation in the quick ratio over the years may indicate varying levels of efficiency in managing the company's short-term liquidity. It is essential for stakeholders to monitor this ratio to ensure the company can meet its immediate financial obligations without relying heavily on selling its inventory or other current assets.
Peer comparison
Dec 31, 2023