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.