Ryder System Inc (R)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 204,000 | 267,000 | 234,000 | 151,294 | 73,584 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,649,000 | 3,316,000 | 3,201,000 | 2,053,150 | 2,625,350 |
| Cash ratio | 0.06 | 0.08 | 0.07 | 0.07 | 0.03 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($204,000K
+ $—K)
÷ $3,649,000K
= 0.06
The cash ratio of Ryder System, Inc. has varied over the past five years. In 2023 and 2022, the cash ratio remained constant at 0.15, indicating that the company had $0.15 of cash for every dollar of current liabilities during those years.
In 2021, the cash ratio improved to 0.29, reflecting a stronger liquidity position compared to the previous years. This indicates an increase in the company's ability to cover its short-term obligations with its cash reserves.
However, in 2020 and 2019, the cash ratio decreased to 0.17 and 0.10 respectively, suggesting a decline in liquidity during those years. This could potentially indicate challenges in meeting short-term obligations with available cash on hand.
Overall, analyzing the trend in the cash ratio over the five-year period provides insights into Ryder System, Inc.'s liquidity position and its ability to manage short-term financial obligations. Further analysis would be needed to understand the factors driving these changes and determine the effectiveness of the company's cash management strategies.
Peer comparison
Dec 31, 2023