Quanta Services Inc (PWR)
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 | 1,290,250 | 305,355 | 361,966 | 217,115 | 428,505 | 215,395 | 150,653 | 238,258 | 229,097 | 1,696,210 | 212,473 | 200,218 | 184,620 | 216,935 | 530,670 | 377,205 | 164,798 | 80,044 | 73,356 | 85,423 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 4,410,830 | 4,332,500 | 4,075,210 | 3,644,620 | 3,674,520 | 3,638,360 | 3,518,580 | 3,356,570 | 3,400,320 | 3,002,170 | 2,570,460 | 2,666,980 | 2,716,080 | 2,750,270 | 2,370,290 | 2,593,280 | 2,747,910 | 3,188,330 | 2,632,000 | 2,580,660 |
| Total current liabilities | US$ in thousands | 5,213,120 | 4,192,240 | 3,763,670 | 3,427,320 | 3,406,190 | 3,346,220 | 3,219,550 | 3,217,820 | 3,164,960 | 2,364,550 | 2,131,130 | 2,100,060 | 2,138,560 | 2,178,270 | 2,093,360 | 2,115,910 | 2,263,050 | 2,357,520 | 1,906,230 | 1,778,740 |
| Quick ratio | 1.09 | 1.11 | 1.18 | 1.13 | 1.20 | 1.15 | 1.14 | 1.12 | 1.15 | 1.99 | 1.31 | 1.37 | 1.36 | 1.36 | 1.39 | 1.40 | 1.29 | 1.39 | 1.42 | 1.50 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,290,250K
+ $—K
+ $4,410,830K)
÷ $5,213,120K
= 1.09
The quick ratio of Quanta Services, Inc. has shown relatively stable performance over the past eight quarters, ranging from 1.44 to 1.64. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
The trend observed in Quanta Services, Inc.'s quick ratio suggests that the company has been maintaining a healthy level of liquidity over the period examined. The quick ratio peaked at 1.64 in Q2 2023, indicating a strong ability to cover short-term liabilities with liquid assets. The lowest quick ratio of 1.44 was recorded in Q4 2023, which still remained above the 1 threshold, reflecting a stable financial position.
Overall, the consistent quick ratio above 1 for Quanta Services, Inc. indicates that the company has a sufficient level of liquid assets to meet its short-term financial obligations. It demonstrates prudent financial management and suggests a lower risk of liquidity issues in the near term.
Peer comparison
Dec 31, 2023