Oshkosh Corporation (OSK)
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 | 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 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 125,400 | 106,100 | 355,500 | 538,700 | 805,900 | 474,800 | 397,400 | 944,500 | 1,375,800 | 1,166,300 | 1,093,200 | 898,600 | 582,900 | 331,600 | 403,900 | 264,000 | 448,400 | 152,200 | 321,900 | 159,900 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,089,600 | 3,090,200 | 2,418,000 | 2,458,600 | 2,428,600 | 2,272,900 | 2,338,800 | 2,446,300 | 2,151,700 | 2,047,500 | 1,902,500 | 1,711,500 | 1,585,100 | 1,629,300 | 1,805,000 | 1,509,200 | 1,741,900 | 1,687,500 | 1,810,100 | 1,478,200 |
| Cash ratio | 0.04 | 0.03 | 0.15 | 0.22 | 0.33 | 0.21 | 0.17 | 0.39 | 0.64 | 0.57 | 0.57 | 0.53 | 0.37 | 0.20 | 0.22 | 0.17 | 0.26 | 0.09 | 0.18 | 0.11 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($125,400K
+ $—K)
÷ $3,089,600K
= 0.04
The cash ratio for Oshkosh Corp has shown fluctuations over the past eight quarters. In Q4 2022, the cash ratio was at its highest at 0.37, indicating that the company had $0.37 in cash and cash equivalents for every $1 of current liabilities. However, in Q4 2023, the cash ratio decreased significantly to 0.07, suggesting a decline in the company's ability to cover its short-term obligations with its available cash.
The cash ratio continued to decline in subsequent quarters, hitting its lowest point in Q2 2023 at 0.18. This downward trend raises concerns about Oshkosh Corp's liquidity position and ability to meet its short-term financial obligations using its existing cash resources.
It is important for the company to closely monitor its cash management practices and cash flow dynamics to maintain a healthy cash ratio and ensure adequate liquidity to support its operational needs and financial obligations. Investors and stakeholders may closely watch this metric to assess the company's liquidity risk and financial health.
Peer comparison
Dec 31, 2023