Pilgrims Pride Corp (PPC)
Cash 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 and cash equivalents | US$ in thousands | 697,748 | 899,460 | 730,980 | 150,687 | 400,988 | 654,213 | 682,126 | 725,540 | 427,661 | 511,084 | 391,805 | 367,015 | 547,624 | 768,031 | 507,442 | 511,183 | 260,568 | 598,054 | 538,227 | 378,518 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 2,495,870 | 2,531,320 | 2,542,360 | 2,493,750 | 2,570,170 | 2,607,820 | 2,470,960 | 2,475,780 | 2,390,820 | 2,270,930 | 2,244,710 | 1,711,560 | 1,937,580 | 1,695,450 | 1,485,360 | 1,516,080 | 1,648,160 | 1,437,740 | 1,392,630 | 1,357,730 |
| Cash ratio | 0.28 | 0.36 | 0.29 | 0.06 | 0.16 | 0.25 | 0.28 | 0.29 | 0.18 | 0.23 | 0.17 | 0.21 | 0.28 | 0.45 | 0.34 | 0.34 | 0.16 | 0.42 | 0.39 | 0.28 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($697,748K
+ $—K)
÷ $2,495,870K
= 0.28
Based on the data provided, Pilgrim's Pride Corp.'s cash ratio has fluctuated over the past eight quarters. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents.
The company's cash ratio ranged from 0.15 to 0.44 during the period. A higher cash ratio indicates a greater ability to cover short-term obligations with cash on hand.
Throughout the quarters, Pilgrim's Pride Corp. exhibited some variability in its cash ratio, with the highest ratio of 0.44 in Q3 2023 and the lowest ratio of 0.15 in Q1 2023. This variability could be due to fluctuations in the company's cash position and short-term liabilities.
Overall, Pilgrim's Pride Corp. maintained relatively healthy cash ratios above 0.3 in most quarters, indicating a sufficient level of liquidity to meet short-term obligations. However, the downward trend from Q3 2023 to Q1 2023 may warrant further investigation into the company's cash management and liquidity position.
Peer comparison
Dec 31, 2023