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.