PulteGroup Inc (PHM)
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 | 1,806,580 | 1,848,450 | 1,728,710 | 1,278,020 | 1,053,100 | 231,301 | 662,780 | 1,145,010 | 1,779,090 | 1,568,320 | 1,663,270 | 1,579,590 | 2,582,200 | 2,067,280 | 1,658,530 | 1,816,780 | 1,217,910 | 736,986 | 631,309 | 1,055,460 |
| Short-term investments | US$ in thousands | 516,064 | 414,360 | 432,481 | 420,638 | 677,207 | 3,183 | 553,789 | 510,275 | 947,139 | 601,408 | 581,150 | 495,049 | 564,979 | 400,067 | 394,288 | 363,854 | 508,967 | 383,893 | 343,732 | 326,995 |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 6,200 | — | — | — |
| Total current liabilities | US$ in thousands | 117,212 | 2,966,620 | 2,876,680 | 2,960,540 | 87,578 | 3,166,340 | 2,666,440 | 3,153,200 | 87,462 | 2,771,770 | 2,609,070 | 2,346,830 | 84,505 | 2,096,990 | 2,079,840 | 2,167,050 | 51,827 | 2,089,380 | 2,051,220 | 2,027,340 |
| Quick ratio | 19.82 | 0.76 | 0.75 | 0.57 | 19.76 | 0.07 | 0.46 | 0.52 | 31.17 | 0.78 | 0.86 | 0.88 | 37.24 | 1.18 | 0.99 | 1.01 | 33.44 | 0.54 | 0.48 | 0.68 |
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 shown fluctuations over the past eight quarters, ranging from a low of 0.18 in Q3 2022 to a high of 0.84 in Q4 2023. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets and signifies its liquidity position.
The quick ratio below 1.0 in most quarters indicates that PulteGroup Inc may have difficulty in meeting its short-term liabilities using only its quick assets, such as cash, marketable securities, and accounts receivable. However, the downward trend from Q1 2023 to Q4 2023 is a concern as the ratio has decreased over time, showing a potential deterioration in the company's liquidity position.
Further investigation into the management of the company's current assets and liabilities is recommended to understand the reasons behind the fluctuating quick ratio and to determine if any corrective actions are needed to improve PulteGroup Inc's liquidity.
Peer comparison
Dec 31, 2023