Nextracker Inc. Class A Common Stock (NXT)

Quick ratio

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022
Cash	US$ in thousands	474,054	367,818	372,918	355,081	130,008	100,081
Short-term investments	US$ in thousands	—	—	98,000	—	29,300	—
Receivables	US$ in thousands	524,087	365,271	346,662	222,750	387,459	285,800
Total current liabilities	US$ in thousands	891,486	759,437	772,210	676,138	507,426	604,612
Quick ratio		1.12	0.97	1.06	0.85	1.08	0.64

March 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($474,054K + $—K + $524,087K) ÷ $891,486K
= 1.12

The quick ratio of Nextracker Inc. Class A Common Stock has shown fluctuating trends over the past six quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.

In the most recent quarter (March 31, 2024), the quick ratio stands at 1.12, indicating that the company has $1.12 in liquid assets available to cover each dollar of current liabilities. This suggests that Nextracker Inc. has a comfortable liquidity position in the short term.

Comparing to previous quarters, the quick ratio has been volatile. The ratio was 0.97 on December 31, 2023, 1.06 on September 30, 2023, and 0.85 on June 30, 2023. Notably, the quick ratio significantly improved from 0.64 on December 31, 2022.

While the quick ratio provides a snapshot of liquidity, it's important to consider other factors and ratios when evaluating the overall financial health of Nextracker Inc. Class A Common Stock.