Patrick Industries Inc (PATK)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 33,561 | 11,409 | 22,847 | 122,849 | 44,767 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 353,615 | 308,496 | 367,240 | 432,777 | 227,389 |
| Cash ratio | 0.09 | 0.04 | 0.06 | 0.28 | 0.20 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($33,561K
+ $—K)
÷ $353,615K
= 0.09
The cash ratio of Patrick Industries Inc has shown fluctuations over the years. As of December 31, 2020, the cash ratio was 0.20, indicating that the company had $0.20 in cash for every $1 of current liabilities. The ratio increased to 0.28 by December 31, 2021, suggesting an improvement in the company's ability to cover short-term obligations with its cash reserves. However, there was a significant decline in the cash ratio to 0.06 by December 31, 2022, followed by a further decrease to 0.04 by December 31, 2023, which may raise concerns about the company's liquidity position. The cash ratio did show a slight improvement to 0.09 by December 31, 2024, but it still remains relatively low compared to previous years. Overall, the trend in the cash ratio indicates a varying ability of Patrick Industries Inc to meet its short-term financial obligations solely with its available cash resources.
Peer comparison
Dec 31, 2024