Quanex Building Products (NX)
Quick 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 | 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 | — |
| Receivables | US$ in thousands | 389,670 | 87,554 | 87,078 | 80,063 | 195,182 | 96,204 | 94,038 | 84,672 | 191,869 | 109,467 | 118,195 | 99,355 | 216,034 | 98,286 | 96,521 | 82,538 | 176,574 | 84,479 | 66,892 | 64,036 |
| 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 |
| Quick ratio | 1.79 | 1.42 | 1.21 | 1.12 | 1.88 | 1.25 | 1.16 | 1.06 | 1.77 | 1.00 | 1.07 | 1.00 | 1.62 | 1.00 | 1.07 | 1.12 | 1.75 | 1.17 | 1.86 | 0.96 |
October 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($97,744K
+ $—K
+ $389,670K)
÷ $272,867K
= 1.79
The quick ratio of Quanex Building Products has shown fluctuation over the past few years. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
Looking at the trend, we can see that the quick ratio has generally been above 1, which is a positive sign. The quick ratio increased from 1.00 in January 2020 to 1.79 in October 2024, showing an improvement in the company's short-term liquidity position.
However, there are fluctuations in the quick ratio over time, with some quarters showing higher ratios (e.g., 1.88 in October 2023) and some quarters showing lower ratios (e.g., 1.00 in January 2022). These fluctuations could be due to changes in the company's current assets and liabilities mix or changes in its operating performance.
Overall, a quick ratio above 1 indicates that Quanex Building Products generally has a strong ability to cover its short-term obligations with its liquid assets, but further analysis of the company's liquidity position and its operating environment would provide a more comprehensive insight into its financial health.
Peer comparison
Oct 31, 2024