nVent Electric PLC (NVT)
Quick ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 137,100 | 274,000 | 211,400 | 185,100 | 113,300 | 138,500 | 303,100 | 297,500 | 194,000 | 55,800 | 51,100 | 49,500 | 46,000 | 101,800 | 104,900 | 122,500 | 159,800 | 235,000 | 187,900 | 106,400 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | -13,400 | -17,100 | -15,700 | -15,000 | -15,500 | -15,100 | -15,800 | -9,900 | -9,900 | -9,300 | -7,900 | -6,700 | -6,000 | -5,800 | -5,800 | -6,200 | -7,500 | -6,500 | -5,700 | -5,400 |
| Total current liabilities | US$ in thousands | 776,200 | 654,100 | 690,300 | 733,600 | 659,400 | 620,600 | 601,300 | 649,500 | 645,000 | 612,100 | 588,300 | 636,300 | 571,200 | 535,800 | 463,800 | 450,000 | 409,900 | 386,200 | 409,200 | 462,200 |
| Quick ratio | 0.16 | 0.39 | 0.28 | 0.23 | 0.15 | 0.20 | 0.48 | 0.44 | 0.29 | 0.08 | 0.07 | 0.07 | 0.07 | 0.18 | 0.21 | 0.26 | 0.37 | 0.59 | 0.45 | 0.22 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($137,100K
+ $—K
+ $-13,400K)
÷ $776,200K
= 0.16
The quick ratio of nVent Electric PLC has fluctuated over the past few quarters, ranging from a low of 0.07 to a high of 0.59. This ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates a better ability to cover short-term liabilities, while a lower ratio may raise concerns about liquidity.
nVent's quick ratio was relatively low in the most recent quarter at 0.16, suggesting a weaker ability to meet short-term obligations with its liquid assets. However, it improved in the preceding quarter to 0.39, indicating a better liquidity position. The quick ratio was particularly strong in the first quarter of 2023 at 0.48, signifying a robust ability to cover short-term liabilities.
Overall, nVent Electric PLC's quick ratio has shown variability, with some quarters demonstrating stronger liquidity positions than others. Analysts may want to closely monitor the company's ability to maintain a healthy quick ratio to ensure it can meet its short-term financial obligations effectively.
Peer comparison
Sep 30, 2024