Quanex Building Products (NX)
Cash ratio
| Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 97,744 | 93,966 | 56,149 | 44,422 | 58,474 | 73,252 | 43,496 | 43,055 | 55,093 | 50,030 | 38,900 | 31,719 | 40,061 | 43,663 | 49,258 | 43,426 | 51,621 | 41,073 | 80,252 | 23,114 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 48 | — |
| Total current liabilities | US$ in thousands | 272,867 | 127,869 | 118,531 | 111,454 | 134,663 | 135,367 | 118,648 | 119,990 | 139,843 | 158,731 | 146,588 | 131,628 | 158,001 | 142,354 | 135,722 | 112,213 | 130,240 | 106,939 | 79,042 | 90,578 |
| Cash ratio | 0.36 | 0.73 | 0.47 | 0.40 | 0.43 | 0.54 | 0.37 | 0.36 | 0.39 | 0.32 | 0.27 | 0.24 | 0.25 | 0.31 | 0.36 | 0.39 | 0.40 | 0.38 | 1.02 | 0.26 |
October 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($97,744K
+ $—K)
÷ $272,867K
= 0.36
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates that a company has a greater ability to pay off its current liabilities using its readily available cash.
Looking at Quanex Building Products' cash ratio over the past several quarters, we can see some fluctuations. The cash ratio has ranged from a low of 0.24 in January 2022 to a high of 1.02 in April 2020. The most recent cash ratio for October 2024 is 0.36, which indicates that the company has $0.36 in cash and cash equivalents for every dollar of current liabilities.
Overall, Quanex Building Products' cash ratio has shown some variability over time, but generally, it has hovered around the 0.30 to 0.50 range, with occasional fluctuations beyond this range. It is important for investors and analysts to continue monitoring the company's cash position and liquidity to ensure it can effectively meet its short-term obligations.
Peer comparison
Oct 31, 2024