ODP Corp (ODP)
Cash 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 and cash equivalents | US$ in thousands | 392,000 | 384,000 | 335,000 | 343,000 | 403,000 | 473,000 | 417,000 | 557,000 | 514,000 | 753,000 | 691,000 | 753,000 | 729,000 | 743,000 | 762,000 | 842,000 | 698,000 | 588,000 | 444,000 | 604,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,693,000 | 1,760,000 | 1,782,000 | 1,845,000 | 1,859,000 | 1,893,000 | 1,903,000 | 1,966,000 | 2,265,000 | 2,181,000 | 2,100,000 | 2,129,000 | 2,093,000 | 2,287,000 | 2,135,000 | 2,345,000 | 3,094,000 | 3,156,000 | 3,181,000 | 3,233,000 |
| Cash ratio | 0.23 | 0.22 | 0.19 | 0.19 | 0.22 | 0.25 | 0.22 | 0.28 | 0.23 | 0.35 | 0.33 | 0.35 | 0.35 | 0.32 | 0.36 | 0.36 | 0.23 | 0.19 | 0.14 | 0.19 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($392,000K
+ $—K)
÷ $1,693,000K
= 0.23
The cash ratio for ODP Corp has shown some fluctuations over the periods analyzed. The cash ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
Looking at the trend, we can see that the cash ratio has ranged from 0.14 to 0.36 over the past five years. A higher cash ratio indicates that the company has more cash and cash equivalents relative to its current liabilities, implying a stronger ability to meet short-term obligations.
In the most recent quarter, the cash ratio stood at 0.23, showing a slight decline from the previous quarter. This suggests that the company may have relatively less cash on hand compared to its current liabilities.
Over the longer term, the cash ratio has fluctuated but generally remained within a reasonable range. It is essential for investors and analysts to monitor the cash ratio along with other financial indicators to get a holistic view of the company's financial health and liquidity position.
Peer comparison
Dec 31, 2023