Qualys Inc (QLYS)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	203,665	173,719	137,328	74,132	87,559
Short-term investments	US$ in thousands	221,893	147,608	267,960	281,892	211,331
Receivables	US$ in thousands	146,226	121,795	108,998	100,179	78,034
Total current liabilities	US$ in thousands	389,208	352,188	304,280	255,730	223,467
Quick ratio		1.47	1.26	1.69	1.78	1.69

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($203,665K + $221,893K + $146,226K) ÷ $389,208K
= 1.47

The quick ratio of Qualys Inc has exhibited some fluctuations over the past five years, ranging from 1.34 to 1.86. The quick ratio measures a company's ability to cover its short-term liabilities with its most liquid assets, excluding inventory.

A quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its short-term obligations. Qualys Inc's quick ratio has generally been above 1 in the recent years, suggesting strong liquidity levels.

The decrease in the quick ratio from 1.86 in 2020 to 1.54 in 2023 may raise some concerns, indicating a slight decline in the company's ability to meet its short-term liabilities using its quick assets. However, the quick ratio remains above 1, indicating that the company still maintains a healthy liquidity position.

Overall, Qualys Inc's quick ratio indicates that the company has a solid ability to cover its short-term obligations with its liquid assets, although monitoring future trends in this ratio may be important to ensure continued financial health.