Robert Half International Inc (RHI)

Quick ratio

		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	Mar 31, 2019
Cash	US$ in thousands	731,740	729,472	722,763	547,729	658,626	593,348	590,909	550,330	619,001	633,719	542,805	497,930	574,426	587,000	501,485	249,914	270,478	312,741	269,440	269,645
Short-term investments	US$ in thousands	28,616	—	27,610	—	-68,456	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	860,872	941,121	974,008	1,009,190	1,018,290	1,101,300	1,091,600	1,071,610	984,691	1,005,630	907,947	799,673	714,163	690,259	665,409	853,529	832,797	852,843	842,294	826,366
Total current liabilities	US$ in thousands	1,235,110	1,276,280	1,276,570	1,148,310	1,216,200	1,234,250	1,266,870	1,289,030	1,358,670	1,341,600	1,196,310	1,076,590	1,046,630	1,052,780	977,167	913,354	940,692	977,440	909,510	900,730
Quick ratio		1.31	1.31	1.35	1.36	1.32	1.37	1.33	1.26	1.18	1.22	1.21	1.21	1.23	1.21	1.19	1.21	1.17	1.19	1.22	1.22

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($731,740K + $28,616K + $860,872K) ÷ $1,235,110K
= 1.31

The quick ratio of Robert Half Inc has been relatively stable over the past eight quarters, ranging between 1.39 and 1.52. This indicates that the company has a strong ability to meet its short-term obligations using its most liquid assets, such as cash and accounts receivable.

The gradual increase in the quick ratio from Q1 2022 to Q1 2023 suggests an improvement in the company's short-term liquidity position. A quick ratio above 1 indicates that Robert Half Inc has more than enough liquid assets to cover its current liabilities, providing a safety cushion in case of unexpected financial challenges.

Overall, the consistent quick ratio above 1.4 demonstrates Robert Half Inc's prudent management of its liquidity and ability to handle short-term financial obligations effectively.