Patrick Industries Inc (PATK)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 33,561 | 52,606 | 43,960 | 17,610 | 11,409 | 16,450 | 33,911 | 30,783 | 22,847 | 53,269 | 77,025 | 63,846 | 122,849 | 44,882 | 58,402 | 6,171 | 44,767 | 62,347 | 111,062 | 94,523 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 353,615 | 379,189 | 373,667 | 360,542 | 308,496 | 335,814 | 307,130 | 332,680 | 367,240 | 435,904 | 473,411 | 496,315 | 432,777 | 409,473 | 328,792 | 299,849 | 227,389 | 252,949 | 218,537 | 236,203 |
| Quick ratio | 0.09 | 0.14 | 0.12 | 0.05 | 0.04 | 0.05 | 0.11 | 0.09 | 0.06 | 0.12 | 0.16 | 0.13 | 0.28 | 0.11 | 0.18 | 0.02 | 0.20 | 0.25 | 0.51 | 0.40 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($33,561K
+ $—K
+ $—K)
÷ $353,615K
= 0.09
The quick ratio of Patrick Industries Inc has fluctuated over the given period, ranging from a low of 0.02 on March 31, 2021, to a high of 0.51 on June 30, 2020. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets, excluding inventory. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities.
The quick ratio decreased significantly from September 30, 2020 to March 31, 2021, which could be a point of concern as it dropped below 0.2 during that period. However, there was some improvement in the quick ratio in the subsequent quarters, although it continued to fluctuate within a range of 0.11 to 0.28 until December 31, 2021.
From March 31, 2022, to December 31, 2024, the quick ratio remained relatively stable, fluctuating between 0.04 to 0.16. The trend indicates that the company's ability to cover its short-term obligations with its liquid assets improved compared to the low levels seen in early 2021.
It is important for investors and stakeholders to closely monitor the quick ratio of Patrick Industries Inc to ensure that the company maintains a healthy liquidity position to meet its short-term obligations effectively.
Peer comparison
Dec 31, 2024