Nextracker Inc. Class A Common Stock (NXT)

Cash ratio

		Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Cash and cash equivalents	US$ in thousands	766,103	474,054	130,008	29,070	190,589
Short-term investments	US$ in thousands	—	—	29,300	9,300	27,400
Total current liabilities	US$ in thousands	1,033,510	891,486	507,426	473,371	391,351
Cash ratio		0.74	0.53	0.31	0.08	0.56

March 31, 2025 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($766,103K + $—K) ÷ $1,033,510K
= 0.74

The cash ratio of Nextracker Inc. Class A Common Stock has displayed some fluctuations over the past five years. The ratio stood at 0.56 as of March 31, 2021, indicating that the company had $0.56 in cash and cash equivalents for every $1 of current liabilities. However, by March 31, 2022, the cash ratio decreased significantly to 0.08, suggesting a lower level of liquidity relative to its short-term obligations.

Subsequently, the ratio improved to 0.31 as of March 31, 2023, reflecting a better liquidity position compared to the previous year. This was followed by a further increase in the cash ratio to 0.53 as of March 31, 2024, indicating a strengthening liquidity position.

As of March 31, 2025, the cash ratio reached its highest point in the five-year period at 0.74, suggesting that Nextracker Inc. had $0.74 in cash and cash equivalents for every $1 of current liabilities. Overall, the trend in the cash ratio shows fluctuations in the company's liquidity position over the years, with improvements witnessed in recent periods.