PulteGroup Inc (PHM)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	1,806,580	1,053,100	1,779,090	2,582,200	1,217,910
Short-term investments	US$ in thousands	516,064	677,207	947,139	564,979	508,967
Receivables	US$ in thousands	—	—	—	—	6,200
Total current liabilities	US$ in thousands	117,212	87,578	87,462	84,505	51,827
Quick ratio		19.82	19.76	31.17	37.24	33.44

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,806,580K + $516,064K + $—K) ÷ $117,212K
= 19.82

The quick ratio of PulteGroup Inc has fluctuated over the past five years. In 2023, the quick ratio was 0.84, indicating that the company may have difficulty covering its short-term liabilities with its most liquid assets. This is a slight improvement from the previous year, where the quick ratio was 0.63, suggesting a potential increase in the company's ability to meet its short-term obligations.

Compared to 2021 and 2019, where the quick ratios were 0.89 and 0.89 respectively, 2023's quick ratio is lower, indicating a potential decrease in the company's liquidity position. However, in 2020, the quick ratio was notably higher at 1.32, which suggests that the company had a stronger ability to cover its current liabilities with its quick assets at that time.

Overall, the fluctuation in PulteGroup Inc's quick ratio over the past five years highlights the importance of closely monitoring and managing the company's liquidity position to ensure its ability to meet short-term obligations.