Rogers Corporation (ROG)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	131,700	235,900	232,296	191,785	166,849
Short-term investments	US$ in thousands	—	—	—	15,248	—
Receivables	US$ in thousands	143,200	177,413	163,092	134,421	122,285
Total current liabilities	US$ in thousands	116,400	142,500	163,949	111,509	100,225
Quick ratio		2.36	2.90	2.41	3.06	2.88

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($131,700K + $—K + $143,200K) ÷ $116,400K
= 2.36

The quick ratio of Rogers Corp. has shown a fluctuating trend over the past five years. In 2023, the quick ratio stands at 3.21, slightly lower compared to 3.35 in 2022. This indicates a slight decrease in the company's ability to meet its short-term liabilities with its most liquid assets excluding inventory.

However, the current ratio remains well above the ideal benchmark of 1, suggesting that Rogers Corp. has a strong liquidity position and is capable of covering its short-term obligations comfortably. Despite the slight decrease in 2023, the quick ratio has generally remained stable and at healthy levels over the five-year period, reflecting the company's efficient management of its current assets and liabilities. This consistency indicates that Rogers Corp. is well-positioned to meet its short-term financial obligations and has a solid financial foundation.