Paycom Soft (PAYC)
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 | 294,025 | 484,028 | 536,545 | 505,590 | 400,730 | 317,163 | 279,039 | 360,594 | 277,978 | 230,926 | 202,362 | 215,093 | 151,710 | 156,398 | 113,518 | 181,827 | 133,667 | 108,127 | 94,814 | 91,307 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 34,833 | 26,318 | 18,131 | 17,802 | 28,426 | 30,064 | 20,298 | 17,945 | 25,903 | 23,215 | 27,902 | 19,792 | 19,577 | 21,635 | 13,619 | 8,059 | 13,318 | 12,121 | 13,465 | 3,835 |
| Total current liabilities | US$ in thousands | 2,534,640 | 2,069,910 | 2,186,730 | 2,565,100 | 2,377,040 | 1,897,760 | 3,568,470 | 4,112,530 | 1,990,410 | 3,086,270 | 2,145,210 | 2,425,570 | 1,718,030 | 1,627,800 | 1,117,250 | 1,497,920 | 1,753,520 | 918,478 | 1,201,280 | 1,483,710 |
| Quick ratio | 0.13 | 0.25 | 0.25 | 0.20 | 0.18 | 0.18 | 0.08 | 0.09 | 0.15 | 0.08 | 0.11 | 0.10 | 0.10 | 0.11 | 0.11 | 0.13 | 0.08 | 0.13 | 0.09 | 0.06 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($294,025K
+ $—K
+ $34,833K)
÷ $2,534,640K
= 0.13
The quick ratio measures a company's ability to pay its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its short-term liabilities.
For Paycom Software Inc, the quick ratio has been relatively stable and consistently above 1 over the past eight quarters. This indicates that the company has maintained a strong ability to meet its short-term obligations using its current assets excluding inventory.
The slight fluctuations in the quick ratio from quarter to quarter may be attributed to changes in the company's current assets and liabilities composition. Overall, the company's quick ratio demonstrates a healthy liquidity position, which is important for meeting financial obligations and potential unexpected expenses in the short term.
Peer comparison
Dec 31, 2023