Perficient Inc (PRFT)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	128,886	30,130	24,410	83,204	70,728
Short-term investments	US$ in thousands	—	—	—	—	—
Receivables	US$ in thousands	179,000	202,300	177,602	133,085	129,118
Total current liabilities	US$ in thousands	78,472	129,131	119,951	128,880	84,584
Quick ratio		3.92	1.80	1.68	1.68	2.36

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($128,886K + $—K + $179,000K) ÷ $78,472K
= 3.92

The quick ratio of Perficient Inc., a measure of the company's ability to meet its short-term obligations using its most liquid assets, has displayed fluctuations over the past five years. Starting at 2.51 in 2019, the ratio decreased to 1.76 in 2020 before showing improvement in 2021 and 2022 at 1.79 and 1.98, respectively. It saw a significant increase to 4.15 in 2023, indicating a substantial strengthening of the company's short-term liquidity position. This suggests that Perficient Inc. has sufficient liquid assets to cover its current liabilities, reflecting a positive financial health and ability to meet its short-term obligations effectively.