RB Global Inc. (RBA)
Quick ratio
Mar 31, 2024 | 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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | US$ in thousands | 462,800 | 576,200 | 428,300 | 432,900 | 568,300 | 494,300 | 438,771 | 367,289 | 440,120 | 326,113 | 362,612 | 301,757 | 294,380 | 278,766 | 470,285 | 389,720 | 290,094 | 359,671 | 309,555 | 210,429 |
Short-term investments | US$ in thousands | — | — | — | — | — | 24 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Receivables | US$ in thousands | 959,200 | 741,500 | 951,900 | 938,800 | 809,500 | 189,048 | 309,969 | 304,003 | 307,596 | 170,790 | 261,061 | 277,156 | 296,939 | 141,798 | 334,094 | 333,866 | 253,754 | 144,212 | 260,413 | 345,289 |
Total current liabilities | US$ in thousands | 1,464,200 | 1,342,700 | 1,403,000 | 1,383,900 | 1,404,500 | 795,200 | 752,182 | 792,818 | 848,948 | 588,419 | 682,180 | 716,938 | 784,865 | 514,577 | 753,498 | 768,042 | 584,010 | 501,258 | 659,959 | 665,480 |
Quick ratio | 0.97 | 0.98 | 0.98 | 0.99 | 0.98 | 0.86 | 1.00 | 0.85 | 0.88 | 0.84 | 0.91 | 0.81 | 0.75 | 0.82 | 1.07 | 0.94 | 0.93 | 1.01 | 0.86 | 0.84 |
March 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($462,800K
+ $—K
+ $959,200K)
÷ $1,464,200K
= 0.97
The quick ratio of RB Global Inc. has shown variability over the past few quarters, ranging from 0.75 to 1.07. A quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its current liabilities.
The quick ratio for RB Global Inc. has generally been above 0.85 in recent quarters, indicating that the company has been able to meet its short-term obligations using its most liquid assets. However, there was a notable dip in the quick ratio in March 2021 (0.75), which may have signaled a period of lower liquidity.
Overall, the quick ratio trend indicates that RB Global Inc. has managed its short-term liquidity well, with most quarters showing a ratio above 0.85. However, management should continue to monitor and maintain an appropriate level of liquid assets to cover its current liabilities effectively.
Peer comparison
Mar 31, 2024