Perficient Inc (PRFT)

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	128,886	80,087	60,471	40,995	30,130	20,845	38,868	24,175	24,410	56,405	86,686	72,058	83,204	50,032	19,544	29,301	70,728	36,420	34,282	27,734
Short-term investments	US$ in thousands	—	20,200	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	179,000	185,100	186,100	183,500	202,300	192,903	196,620	186,368	177,602	165,041	149,718	138,836	133,085	137,043	127,907	126,728	129,118	126,304	122,797	115,089
Total current liabilities	US$ in thousands	78,472	70,299	78,291	82,120	129,131	104,015	94,072	94,757	119,951	109,224	113,850	103,523	128,880	100,698	97,183	65,362	84,584	64,900	74,022	54,827
Quick ratio		3.92	4.06	3.15	2.73	1.80	2.05	2.50	2.22	1.68	2.03	2.08	2.04	1.68	1.86	1.52	2.39	2.36	2.51	2.12	2.60

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. has shown a consistent improvement over the past eight quarters, indicating strong liquidity position for the company. The ratio has steadily increased from 1.98 in Q4 2022 to 4.15 in Q4 2023, demonstrating an impressive ability to cover its short-term obligations with its most liquid assets. This indicates that Perficient Inc. has sufficient current assets, excluding inventory, to meet its current liabilities, providing a measure of financial stability and capability to meet its short-term obligations efficiently. The upward trend in the quick ratio reflects sound financial management and prudent working capital management by the company. Overall, the quick ratio data suggests that Perficient Inc. is in a strong financial position with ample liquidity reserves to support its operations and potentially take advantage of strategic opportunities in the future.