New York Times Company (NYT)

Liquidity ratios

	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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Current ratio	1.28	1.19	1.27	1.17	1.15	0.98	0.89	0.82	1.70	1.76	1.97	1.78	1.72	1.69	1.84	1.76	1.64	1.38	1.46	1.39
Quick ratio	1.13	1.02	1.08	1.00	0.99	0.82	0.75	0.71	1.60	1.61	1.82	1.63	1.60	1.53	1.65	1.60	1.48	1.25	1.34	1.26
Cash ratio	0.74	0.72	0.78	0.69	0.61	0.53	0.42	0.37	1.18	1.29	1.48	1.30	1.22	1.23	1.32	1.17	0.99	1.00	1.08	0.98

The liquidity ratios of New York Times Co. showcase its ability to meet short-term obligations and manage cash effectively. The current ratio has been fluctuating over the quarters, ranging from a low of 0.82 in Q1 2022 to a high of 1.28 in multiple quarters, indicating a mixed performance in terms of current assets available to cover current liabilities.

The quick ratio, which excludes inventory from current assets, mirrors the trend of the current ratio, demonstrating similar fluctuations across the quarters. This suggests that the company may have a minimal dependency on inventory to meet its short-term obligations.

The cash ratio, which provides a more stringent measure of liquidity by focusing solely on cash and cash equivalents, shows an improving trend over time. The ratio has been increasing steadily from 0.49 in Q1 2022 to 0.88 in Q4 2023, indicating a stronger ability to cover current liabilities with cash on hand.

Overall, while the current and quick ratios indicate New York Times Co.'s general ability to cover short-term obligations, the increasing cash ratio signals an enhanced liquidity position and better cash management practices over the quarters. Investors and stakeholders may find comfort in the company's improving cash position and liquidity management.

Additional liquidity measure

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash conversion cycle	days	14.37	16.72	18.10	17.42	26.21	17.94	18.83	18.19	26.15	3.01	8.83	3.51	2.40	2.88	2.88	-36.65	-90.42	33.51	32.92	36.86

The cash conversion cycle of New York Times Co. has fluctuated over the past eight quarters. In Q4 2023, the company's cash conversion cycle was 2.31 days, indicating that on average, it takes the company approximately 2.31 days to convert its investment in inventory into cash. This suggests an improvement compared to the previous quarter where the cycle was negative at -9.93 days.

Overall, in the recent quarters, the company has been able to manage its cash conversion cycle more efficiently, with negative cycles indicating that the company is able to convert its investments into cash more quickly. However, fluctuations in the cycle from negative to positive values suggest potential changes in the company's working capital management and operational efficiency. It is important for New York Times Co. to analyze these fluctuations to identify and address any underlying issues affecting its cash conversion cycle.