Pitney Bowes Inc (PBI)

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	601,053	557,696	541,704	511,761	669,981	596,647	570,697	622,575	732,480	729,149	799,470	680,727	921,450	799,177	862,897	663,072	924,442	514,851	771,042	838,905
Short-term investments	US$ in thousands	22,166	21,732	18,972	15,614	11,172	10,014	11,519	11,383	14,440	14,060	14,904	16,200	18,974	21,185	153,221	67,180	115,879	137,032	59,516	65,405
Receivables	US$ in thousands	906,336	845,136	844,101	842,162	917,319	866,669	842,168	875,326	909,204	903,040	899,419	923,104	980,509	979,190	1,009,840	1,027,980	1,099,680	1,110,300	1,226,080	1,118,990
Total current liabilities	US$ in thousands	1,730,410	1,640,530	1,856,620	1,798,670	1,727,800	1,598,640	1,628,930	1,667,250	1,727,940	1,688,760	1,717,240	1,594,260	1,870,460	1,577,910	1,678,520	1,442,520	1,569,690	2,145,560	1,762,320	1,774,760
Quick ratio		0.88	0.87	0.76	0.76	0.93	0.92	0.87	0.91	0.96	0.97	1.00	1.02	1.03	1.14	1.21	1.22	1.36	0.82	1.17	1.14

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($601,053K + $22,166K + $906,336K) ÷ $1,730,410K
= 0.88

The quick ratio of Pitney Bowes, Inc. over the past eight quarters indicates the company's ability to cover its short-term liabilities with its most liquid assets. During Q4 2023, the quick ratio stood at 0.94, showing a slight decrease from the previous quarter. Despite this decline, the ratio remains below 1, signaling that the company may face some challenges in meeting its short-term obligations with its readily available assets.

The trend in the quick ratio over the past year has been somewhat fluctuating, with values ranging from 0.82 to 1.01. This variability could suggest fluctuations in the company's liquidity position or changes in its ability to convert current assets into cash quickly.

In assessing the quick ratio, investors and stakeholders should consider the industry norms and the company's specific circumstances. A quick ratio below 1 may indicate potential liquidity issues, while a ratio above 1 typically suggests a strong ability to meet short-term obligations. Pitney Bowes, Inc. will need to closely monitor and manage its liquidity position to ensure financial stability and meet its short-term financial commitments effectively.