Perdoceo Education Corp (PRDO)

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	118,009	165,639	140,533	89,845	109,408	147,120	148,749	190,443	319,982	266,400	87,343	86,031	105,684	58,120	91,536	37,932	108,687	47,411	51,104	38,799
Short-term investments	US$ in thousands	485,135	429,617	428,104	420,943	399,315	375,871	366,840	307,620	174,213	209,391	389,310	360,986	300,676	305,610	250,265	243,651	185,488	234,415	229,132	201,105
Total current liabilities	US$ in thousands	111,039	139,244	160,695	135,139	163,381	140,404	110,198	110,347	140,244	134,411	117,772	103,219	103,815	98,495	110,430	92,289	103,813	132,140	128,482	92,621
Cash ratio		5.43	4.27	3.54	3.78	3.11	3.72	4.68	4.51	3.52	3.54	4.05	4.33	3.91	3.69	3.10	3.05	2.83	2.13	2.18	2.59

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($118,009K + $485,135K) ÷ $111,039K
= 5.43

Perdoceo Education Corporation's cash ratio has fluctuated over the past eight quarters, ranging from a low of 3.17 to a high of 5.54. The cash ratio measures a company's ability to cover its short-term liabilities with cash and cash equivalents, indicating its liquidity position.

The upward trend in cash ratio from Q2 2022 to Q4 2023 suggests the company has been improving its ability to cover short-term obligations with available cash. This indicates a stronger liquidity position, which may provide the company with more flexibility to handle unexpected expenses or financial challenges.

However, the fluctuations in the cash ratio over the quarters may also indicate variability in the company's cash management practices or business operations. It is important for stakeholders to monitor these changes closely to ensure the company maintains a healthy liquidity position to meet its financial obligations effectively.