Enviri Corporation (NVRI)
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 | 121,239 | 95,592 | 85,484 | 91,759 | 81,332 | 81,740 | 96,782 | 85,216 | 82,908 | 75,578 | 77,870 | 79,308 | 76,454 | 83,859 | 81,784 | 66,488 | 57,259 | 75,458 | 106,094 | 84,743 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 314,629 | 317,587 | 338,462 | 307,609 | 289,807 | 296,197 | 295,921 | 411,999 | 410,940 | 465,351 | 462,501 | 450,828 | 441,643 | 439,319 | 426,166 | 339,395 | 331,255 | 335,005 | 386,376 | 347,925 |
| Total current liabilities | US$ in thousands | 655,233 | 592,889 | 606,967 | 618,278 | 597,281 | 591,698 | 598,393 | 593,560 | 601,391 | 578,282 | 550,913 | 518,732 | 537,955 | 539,966 | 512,984 | 450,750 | 464,894 | 726,634 | 532,606 | 424,583 |
| Quick ratio | 0.67 | 0.70 | 0.70 | 0.65 | 0.62 | 0.64 | 0.66 | 0.84 | 0.82 | 0.94 | 0.98 | 1.02 | 0.96 | 0.97 | 0.99 | 0.90 | 0.84 | 0.56 | 0.92 | 1.02 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($121,239K
+ $—K
+ $314,629K)
÷ $655,233K
= 0.67
The quick ratio of Enviri Corp has exhibited some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets excluding inventory.
In Q4 2023, the quick ratio stood at 0.74, indicating that for every dollar of current liabilities, the company had $0.74 in quick assets available to cover those obligations. This ratio had decreased compared to the previous quarter.
Looking at the trend over the eight quarters, the quick ratio has shown some variability, ranging from 0.70 to 0.91. While the quick ratio has remained below 1.0 for most of the quarters, suggesting that the company may have difficulty meeting its short-term obligations without relying on inventory, there was a significant increase in Q1 2022 where the quick ratio reached 0.91, indicating a stronger ability to meet short-term liabilities with liquid assets.
Overall, the trend in Enviri Corp's quick ratio shows some volatility, and management may need to monitor liquidity closely to ensure the company can meet its short-term obligations effectively.