New York Times Company (NYT)
Quick ratio
| 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 | US$ in thousands | 289,472 | 235,566 | 245,630 | 235,350 | 221,385 | 190,050 | 161,342 | 169,171 | 319,973 | 323,990 | 320,871 | 275,242 | 286,079 | 215,763 | 249,312 | 218,316 | 230,431 | 283,795 | 255,790 | 235,674 |
| Short-term investments | US$ in thousands | 162,094 | 162,737 | 171,223 | 139,354 | 125,972 | 102,620 | 61,911 | 52,788 | 341,075 | 357,814 | 338,455 | 297,454 | 309,080 | 308,734 | 240,400 | 216,658 | 201,785 | 376,863 | 427,797 | 388,077 |
| Receivables | US$ in thousands | 242,488 | 164,038 | 158,991 | 165,977 | 217,533 | 163,553 | 175,984 | 197,492 | 232,908 | 164,620 | 153,540 | 145,170 | 183,692 | 125,337 | 122,092 | 157,680 | 213,402 | 167,081 | 162,791 | 180,055 |
| Total current liabilities | US$ in thousands | 611,559 | 554,009 | 532,052 | 540,454 | 571,210 | 555,758 | 534,277 | 593,013 | 559,152 | 526,594 | 446,517 | 440,706 | 486,748 | 425,928 | 371,112 | 371,044 | 437,695 | 659,782 | 631,644 | 636,311 |
| 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 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($289,472K
+ $162,094K
+ $242,488K)
÷ $611,559K
= 1.13
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations using its most liquid assets. A higher quick ratio indicates better liquidity and a stronger ability to cover short-term liabilities.
Analyzing the quick ratio of New York Times Co. over the past eight quarters shows a positive trend in liquidity improvement. The company's quick ratio has been gradually increasing from 0.82 in Q1 2022 to 1.28 in Q4 2023. This suggests that New York Times Co. has been efficiently managing its current assets to meet its current liabilities.
The quick ratio consistently above 1 indicates that the company has more than enough liquid assets to cover its short-term obligations. This is a positive sign for investors, creditors, and other stakeholders as it signifies that New York Times Co. has a strong liquidity position to weather any short-term financial challenges.
Overall, the increasing trend in the quick ratio of New York Times Co. reflects a healthy financial position and good liquidity management by the company.
Peer comparison
Dec 31, 2023