Rogers Corporation (ROG)

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	131,700	126,455	141,452	193,724	235,900	236,461	225,332	182,144	232,296	220,901	203,945	199,109	191,785	186,123	298,742	308,277	166,849	140,747	173,068	162,074
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	16,904	14,948	15,248	12,755	—	—	—	—	—	—
Receivables	US$ in thousands	143,200	185,750	186,700	174,620	177,413	162,929	176,642	173,387	163,092	163,804	157,471	144,049	134,421	138,611	128,697	144,202	122,285	138,532	156,924	160,696
Total current liabilities	US$ in thousands	116,400	116,137	118,580	127,478	142,500	137,916	154,948	161,166	163,949	138,242	127,022	129,562	111,509	106,356	96,865	97,339	100,225	105,189	112,692	108,365
Quick ratio		2.36	2.69	2.77	2.89	2.90	2.90	2.59	2.21	2.41	2.78	2.98	2.76	3.06	3.17	4.41	4.65	2.88	2.66	2.93	2.98

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 generally stable trend over the past eight quarters, ranging from 2.63 to 3.48. The company's quick ratio measures its ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its current liabilities.

Rogers Corp.'s quick ratio has consistently remained well above 1, reflecting a strong liquidity position and a low risk of insolvency in the short term. The increasing trend from Q1 2022 to Q2 2023 indicates an improvement in the company's ability to cover its current liabilities with its quick assets.

The quick ratio exceeding 3 in most recent quarters suggests that Rogers Corp. has a substantial amount of highly liquid assets relative to its current liabilities. This could be an indication of efficient working capital management and a conservative approach to liquidity risk management.

Overall, based on the quick ratio analysis, Rogers Corp. appears to have a robust liquidity position and the ability to meet its short-term obligations comfortably. However, it is important to complement this ratio analysis with a comprehensive review of the company's overall financial health and performance.