Regal Beloit Corporation (RRX)
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 | 574,000 | 540,600 | 659,600 | 1,143,300 | 688,500 | 723,600 | 702,500 | 624,700 | 672,800 | 328,600 | 618,500 | 566,400 | 611,300 | 487,500 | 432,200 | 604,500 | 331,400 | 293,000 | 291,300 | 264,300 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 921,600 | 918,700 | 1,013,900 | 1,028,300 | 797,400 | 816,000 | 854,800 | 832,200 | 785,800 | — | — | — | 432,000 | 472,500 | 427,200 | 464,000 | 461,400 | 491,700 | 547,800 | 545,900 |
| Total current liabilities | US$ in thousands | 1,326,400 | 1,305,400 | 1,381,100 | 1,405,800 | 1,002,200 | 1,052,800 | 1,120,800 | 1,056,600 | 1,095,300 | 768,900 | 938,800 | 871,000 | 822,000 | 830,800 | 578,400 | 580,300 | 560,500 | 589,200 | 645,300 | 676,500 |
| Quick ratio | 1.13 | 1.12 | 1.21 | 1.54 | 1.48 | 1.46 | 1.39 | 1.38 | 1.33 | 0.43 | 0.66 | 0.65 | 1.27 | 1.16 | 1.49 | 1.84 | 1.41 | 1.33 | 1.30 | 1.20 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($574,000K
+ $—K
+ $921,600K)
÷ $1,326,400K
= 1.13
The quick ratio of Regal Rexnord Corp has shown some fluctuations over the past eight quarters, ranging from a low of 1.29 to a high of 1.69. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets, excluding inventory. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its current liabilities, with a higher ratio suggesting stronger liquidity.
In the recent quarter, Q4 2023, the quick ratio was 1.31, indicating a slight decrease from the previous quarter. While the ratio remains above 1, suggesting that the company has the ability to meet its short-term obligations, the downward trend in the quick ratio over the past two quarters may warrant further investigation into the company's liquidity position.
Overall, the historical trend of the quick ratio for Regal Rexnord Corp demonstrates generally solid liquidity, although management should continue to monitor any fluctuations to ensure the company maintains a healthy liquidity position in the future.
Peer comparison
Dec 31, 2023