Ryder System Inc (R)
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 | 204,000 | 159,000 | 218,000 | 253,000 | 267,000 | 456,291 | 447,737 | 221,886 | 234,000 | 202,736 | 267,992 | 91,738 | 151,294 | 684,248 | 831,469 | 397,235 | 73,584 | 75,867 | 92,502 | 62,787 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | -39 | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,714,000 | 1,647,000 | 1,572,000 | 1,682,000 | 1,610,000 | 1,620,840 | 1,692,910 | 1,602,660 | 1,465,000 | 1,361,530 | 1,298,900 | 1,194,560 | 1,182,350 | 1,156,240 | 1,087,640 | 1,202,820 | 1,228,490 | 1,274,490 | 1,248,970 | 1,221,770 |
| Total current liabilities | US$ in thousands | 3,649,000 | 3,987,000 | 3,411,000 | 3,755,000 | 3,316,000 | 3,201,690 | 3,587,820 | 3,555,080 | 3,201,000 | 3,154,630 | 3,056,050 | 2,285,250 | 2,053,150 | 2,518,640 | 2,755,600 | 2,196,400 | 2,625,350 | 2,532,850 | 2,641,150 | 2,754,580 |
| Quick ratio | 0.53 | 0.45 | 0.52 | 0.52 | 0.57 | 0.65 | 0.60 | 0.51 | 0.53 | 0.50 | 0.51 | 0.56 | 0.65 | 0.73 | 0.70 | 0.73 | 0.50 | 0.53 | 0.51 | 0.47 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($204,000K
+ $—K
+ $1,714,000K)
÷ $3,649,000K
= 0.53
The quick ratio of Ryder System, Inc. has exhibited fluctuations over the past eight quarters, ranging from 0.51 to 0.71. The quick ratio measures the ability of a company to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates a greater ability to cover short-term liabilities.
In this case, the quick ratio has generally been below 1, which may suggest that Ryder System, Inc. may have difficulty meeting its short-term obligations using only its most liquid assets. The decreasing trend from Q3 2022 to Q3 2023 indicates a potential deterioration in liquidity over this period. However, it's important to note that a quick ratio of above 0.5 generally indicates that the company should be able to cover its short-term liabilities with its quick assets.
Further analysis, including comparisons with industry averages and trends in other liquidity ratios, would provide more context for interpreting the significance of these quick ratio movements for Ryder System, Inc.'s overall financial health.
Peer comparison
Dec 31, 2023