Universal Display (OLED)
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 | 91,985 | 79,323 | 93,470 | 158,294 | 93,430 | 187,750 | 213,896 | 357,424 | 311,993 | 535,157 | 542,914 | 726,279 | 630,012 | 162,620 | 133,566 | 222,744 | 131,627 | 235,541 | 324,277 | 225,048 |
| Short-term investments | US$ in thousands | 422,137 | 412,350 | 465,679 | 487,812 | 484,345 | 501,051 | 439,449 | 325,055 | 351,194 | 253,786 | 190,540 | 720 | 99,996 | 510,048 | 510,455 | 417,032 | 514,461 | 361,515 | 228,434 | 301,549 |
| Receivables | US$ in thousands | 160,934 | 144,088 | 122,653 | 108,645 | 116,737 | 91,822 | 87,326 | 117,721 | 115,766 | 96,235 | 99,629 | 91,327 | 82,261 | 99,350 | 68,498 | 82,592 | 60,452 | 65,774 | 66,952 | 52,124 |
| Total current liabilities | US$ in thousands | 118,822 | 131,343 | 80,732 | 114,957 | 135,697 | 138,199 | 155,213 | 178,254 | 187,938 | 180,261 | 162,563 | 166,332 | 164,960 | 182,760 | 162,695 | 136,554 | 161,508 | 148,392 | 139,736 | 131,574 |
| Quick ratio | 5.68 | 4.84 | 8.45 | 6.57 | 5.12 | 5.65 | 4.77 | 4.49 | 4.14 | 4.91 | 5.12 | 4.92 | 4.92 | 4.22 | 4.38 | 5.29 | 4.37 | 4.47 | 4.43 | 4.40 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($91,985K
+ $422,137K
+ $160,934K)
÷ $118,822K
= 5.68
The quick ratio of Universal Display Corp. has shown variability over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has more liquid assets than current liabilities, which is generally considered favorable.
In Q2 2023, the quick ratio was the highest at 8.70, indicating a strong ability to cover short-term obligations. This was followed by Q4 2023 with a quick ratio of 6.24, which also signifies a healthy liquidity position. Q1 2023 and Q4 2022 also had quick ratios above 5, reflecting a consistent ability to meet short-term liabilities with liquid assets.
On the other hand, the quick ratio in Q1 2022 was the lowest at 4.58, although still above 1, indicating a relatively weaker liquidity position compared to the other quarters. Q3 2022 and Q2 2022 also had quick ratios below 5, showing a slight dip in liquidity during those periods.
Overall, the quick ratio of Universal Display Corp. has generally been strong and above the ideal benchmark of 1, suggesting that the company has the ability to meet its short-term obligations using its liquid assets. However, it is important to monitor any fluctuations in the quick ratio over time to assess changes in the company's liquidity position.
Peer comparison
Dec 31, 2023