REX American Resources Corporation (REX)

Quick ratio

Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019
Cash US$ in thousands 223,397 72,828 102,166 77,667 69,612 135,986 54,639 66,685 229,846 197,395 154,312 157,105 144,501 173,075 152,708 163,771 179,658 196,339 212,232 204,704
Short-term investments US$ in thousands 155,260 259,172 182,209 188,143 211,331 153,819 190,471 167,300 25,877 21,620 33,282 35,864 36,194 29,216 32,656 32,601 26,073 — — —
Receivables US$ in thousands 28,913 34,586 37,652 34,200 28,124 29,286 44,457 31,536 32,498 45,956 36,413 33,577 25,733 18,443 20,364 12,461 18,998 23,613 15,365 19,358
Total current liabilities US$ in thousands 66,259 48,690 47,541 36,189 54,599 57,282 41,953 38,859 50,483 46,535 38,695 29,625 30,737 26,742 21,189 19,869 31,599 24,433 22,267 20,324
Quick ratio 6.15 7.53 6.77 8.29 5.66 5.57 6.90 6.83 5.71 5.69 5.79 7.65 6.72 8.25 9.71 10.51 7.11 9.00 10.22 11.02

January 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($223,397K + $155,260K + $28,913K) ÷ $66,259K
= 6.15

The quick ratio of REX American Resources Corporation has shown fluctuations over the past two years, ranging from a low of 5.57 to a high of 11.02. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities, and a higher ratio is generally considered favorable.

Based on the data provided, the quick ratio has generally remained healthy, with values consistently above 5. This indicates that REX American Resources Corporation has maintained a strong ability to meet its short-term financial obligations with its liquid assets. The highest quick ratio recorded was 11.02, suggesting a robust liquidity position during that period.

Overall, the trend of the quick ratio for REX American Resources Corporation shows fluctuations but generally indicates a strong ability to cover its short-term liabilities with liquid assets. However, it is important to consider other financial metrics and factors in conjunction with the quick ratio to gain a comprehensive understanding of the company's financial health.