PACCAR Inc (PCAR)

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	7,181,700	5,906,300	5,145,900	4,410,100	4,690,900	3,323,500	3,231,300	3,314,900	3,428,300	2,227,800	3,069,800	3,320,000	3,539,600	3,344,300	3,128,000	3,323,100	4,175,100	3,669,500	3,219,400	2,842,600
Short-term investments	US$ in thousands	1,477,600	1,743,100	1,690,500	1,638,900	1,614,200	1,544,200	1,559,200	1,515,200	1,559,400	1,549,400	1,434,600	1,421,100	1,429,000	1,194,300	1,147,200	1,097,000	1,162,100	1,107,800	1,117,300	1,081,600
Receivables	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	23,800	7,371,300	7,484,200	7,514,200	18,000	5,971,800	6,227,900	6,325,900	19,600	5,583,700	5,881,400	5,823,400	25,500	5,271,300	4,969,500	5,156,500	39,900	5,557,800	5,556,900	5,592,800
Quick ratio		363.84	1.04	0.91	0.81	350.28	0.82	0.77	0.76	254.47	0.68	0.77	0.81	194.85	0.86	0.86	0.86	133.76	0.86	0.78	0.70

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($7,181,700K + $1,477,600K + $—K) ÷ $23,800K
= 363.84

The quick ratio of Paccar Inc. has shown a relatively stable trend over the past eight quarters, ranging from a low of 1.23 to a high of 1.39. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its current liabilities.

Paccar's quick ratio has generally remained above 1, which suggests that the company is able to meet its short-term obligations comfortably. The slight fluctuations in the quick ratio over the quarters indicate fluctuations in the company's liquidity position, but overall, the ratio has been within a healthy range.

However, it is important to note that a quick ratio of 1.32 in Q4 2023 indicates a slight decline from the previous quarter, which may warrant further monitoring to ensure that the company's liquidity position remains strong. Overall, Paccar Inc. appears to have maintained a strong liquidity position based on its quick ratio in the recent quarters.