RBC Bearings Incorporated (RBC)
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 | 63,500 | 71,600 | 56,600 | 56,700 | 65,400 | 82,036 | 88,495 | 119,587 | 182,900 | 255,503 | 1,348,610 | 175,771 | 151,086 | 126,192 | 166,352 | 143,615 | 103,255 | 60,328 | 36,398 | 32,713 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | 120,320 | 90,249 | 75,539 | — | — | 1,700 | 8,800 | 5,700 | 8,300 |
| Receivables | US$ in thousands | 255,200 | 229,800 | 244,600 | 251,800 | 239,600 | 214,536 | — | — | 247,487 | — | — | — | 110,472 | 106,506 | 108,078 | 113,184 | 128,995 | 121,847 | 129,618 | 130,088 |
| Total current liabilities | US$ in thousands | 294,300 | 291,600 | 288,300 | 316,000 | 309,300 | 282,672 | 306,249 | 330,405 | 313,500 | 343,036 | 112,291 | 95,502 | 88,238 | 88,412 | 88,510 | 100,290 | 103,755 | 99,002 | 103,904 | 99,851 |
| Quick ratio | 1.08 | 1.03 | 1.04 | 0.98 | 0.99 | 1.05 | 0.29 | 0.36 | 1.37 | 0.74 | 12.01 | 3.10 | 3.99 | 3.49 | 3.10 | 2.56 | 2.25 | 1.93 | 1.65 | 1.71 |
March 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($63,500K
+ $—K
+ $255,200K)
÷ $294,300K
= 1.08
The quick ratio of RBC Bearings Incorporated has fluctuated over the past several quarters. It indicates the company's ability to meet its short-term obligations with its most liquid assets. Generally, a quick ratio above 1 signifies that the company has an adequate level of liquid assets to cover its current liabilities.
Looking at the data provided, the quick ratio has experienced significant variations, ranging from a low of 0.29 to a high of 12.01. This inconsistency suggests potential challenges in managing short-term liquidity over the periods analyzed.
In the most recent quarter, as of March 31, 2024, the quick ratio stands at 1.08, indicating a relatively healthy position in terms of liquidity. This suggests that the company has sufficient liquid assets to cover its current liabilities in the near term.
Overall, it is essential for RBC Bearings Incorporated to maintain a consistently healthy quick ratio in order to ensure its ability to meet short-term financial obligations and manage liquidity risks effectively. Monitoring the trend of the quick ratio over time will provide valuable insights into the company's financial health and management of short-term liquidity.
Peer comparison
Mar 31, 2024