Gibraltar Industries Inc (ROCK)
Cash 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 and cash equivalents | US$ in thousands | 99,426 | 85,465 | 18,621 | 7,497 | 17,608 | 21,919 | 17,149 | 15,573 | 12,849 | 13,934 | 16,963 | 20,731 | 32,054 | 179,816 | 120,859 | 85,966 | 191,363 | 137,618 | 81,882 | 43,509 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 225,578 | 313,015 | 293,048 | 239,693 | 215,320 | 282,368 | 303,528 | 287,701 | 286,990 | 279,736 | 286,809 | 258,667 | 302,240 | 269,493 | 240,143 | 221,523 | 229,197 | 240,185 | 188,253 | 168,141 |
| Cash ratio | 0.44 | 0.27 | 0.06 | 0.03 | 0.08 | 0.08 | 0.06 | 0.05 | 0.04 | 0.05 | 0.06 | 0.08 | 0.11 | 0.67 | 0.50 | 0.39 | 0.83 | 0.57 | 0.43 | 0.26 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($99,426K
+ $—K)
÷ $225,578K
= 0.44
The cash ratio measures a company's ability to cover its short-term liabilities using its cash and cash equivalents. In the case of Gibraltar Industries Inc., the cash ratio has fluctuated over the past eight quarters.
In Q4 2023, the cash ratio improved to 0.52, indicating an increase in the company's ability to cover its short-term obligations with cash on hand. This may suggest improved liquidity and financial health compared to the previous quarter.
Looking back at Q3 2023, the cash ratio was 0.35, which was lower than the most recent quarter but still above the levels seen in earlier quarters. This could indicate a slight decline in the company's short-term liquidity compared to Q4 2023.
The cash ratio in Q2 and Q1 2023 was significantly lower at 0.13 and 0.11, respectively, suggesting potential liquidity challenges during those periods. However, there was a notable improvement in Q4 2022, with a cash ratio of 0.17, which continued to rise steadily over the following quarters.
Overall, monitoring Gibraltar Industries Inc.'s cash ratio trend is essential to assess its liquidity position and ability to meet its short-term obligations. An increasing trend in the cash ratio implies stronger liquidity, while a declining trend may signal potential challenges in meeting immediate financial demands.
Peer comparison
Dec 31, 2023