Gibraltar Industries Inc (ROCK)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 224,550 | 256,400 | 266,487 | 230,132 | 217,156 | 275,704 | 275,596 | 245,807 | 236,444 | 260,624 | 225,315 | 199,598 | 197,990 | 203,488 | 193,609 | 172,452 | 147,515 | 196,334 | 180,701 | 167,201 |
| 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 |
| Quick ratio | 1.44 | 1.09 | 0.97 | 0.99 | 1.09 | 1.05 | 0.96 | 0.91 | 0.87 | 0.98 | 0.84 | 0.85 | 0.76 | 1.42 | 1.31 | 1.17 | 1.48 | 1.39 | 1.39 | 1.25 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($99,426K
+ $—K
+ $224,550K)
÷ $225,578K
= 1.44
The quick ratio of Gibraltar Industries Inc. has fluctuated over the past eight quarters, ranging from 1.04 to 1.51. Generally, a quick ratio above 1 indicates that the company is able to cover its short-term obligations with its most liquid assets.
In Q4 2023, the quick ratio was 1.51, reflecting a strong ability to meet current liabilities with quick assets. However, this ratio decreased to 1.17 in Q3 2023, indicating a slight decline in liquidity. This was followed by further decreases in Q2 2023 and Q1 2023 to 1.04 and 1.07, respectively.
Comparing these figures to the previous year, there has been some variability in the quick ratio. Q4 2022 had a quick ratio of 1.18, which was similar to Q3 2022 at 1.19. In Q2 2022, the quick ratio slightly decreased to 1.09, and Q1 2022 saw a ratio of 1.04, the same as in Q2 2023.
Overall, while Gibraltar Industries Inc. has shown fluctuations in its quick ratio over the past eight quarters, the company has generally maintained a quick ratio above 1, indicating its ability to cover short-term obligations with its quick assets. It is important for investors and stakeholders to continue monitoring this ratio to assess the company's liquidity position.
Peer comparison
Dec 31, 2023