RBC Bearings Incorporated (RBC)
Cash ratio
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 63,500 | 65,400 | 182,900 | 151,086 | — |
| Short-term investments | US$ in thousands | — | — | — | 90,249 | — |
| Total current liabilities | US$ in thousands | 294,300 | 309,300 | 313,500 | 88,238 | 103,755 |
| Cash ratio | 0.22 | 0.21 | 0.58 | 2.74 | 0.00 |
March 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($63,500K
+ $—K)
÷ $294,300K
= 0.22
The cash ratio for RBC Bearings Incorporated has exhibited fluctuations over the past five years. As of March 31, 2024, the cash ratio stands at 0.22, indicating that for every dollar of current liabilities, the company has $0.22 in cash and cash equivalents available to cover its short-term obligations. This ratio has slightly increased compared to the previous year's ratio of 0.21.
A significant decline in the cash ratio was observed in March 31, 2023, when it dropped to 0.58 from 2.74 in the previous year, reflecting a substantial decrease in the company's ability to cover its short-term liabilities with available cash and cash equivalents. The cash ratio was notably high in March 31, 2022, at 2.74, suggesting a strong liquidity position during that period.
It is important to note that the cash ratio was at 0.00 as of March 31, 2020, indicating a limited ability to cover current liabilities with cash at that particular point in time. Overall, the trend in the cash ratio for RBC Bearings Incorporated has shown fluctuations, underscoring the importance of closely monitoring the company's liquidity position and its ability to meet short-term obligations with available cash reserves.
Peer comparison
Mar 31, 2024