Saia Inc (SAIA)

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	296,215	249,262	234,997	166,425	187,390	149,825	137,871	141,325	106,588	121,702	52,860	53,260	25,308	25,469	29,280	46,909	248	15	503	31
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	322,056	299,228	267,294	270,531	274,085	338,469	339,149	339,121	321,348	338,621	284,895	307,258	275,754	275,691	248,094	249,047	241,246	244,081	237,190	211,466
Cash ratio		0.92	0.83	0.88	0.62	0.68	0.44	0.41	0.42	0.33	0.36	0.19	0.17	0.09	0.09	0.12	0.19	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($296,215K + $—K) ÷ $322,056K
= 0.92

The cash ratio of Saia Inc. has exhibited fluctuations over the past eight quarters. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents.

In Q4 2023, the cash ratio was 1.04, indicating that Saia Inc. had $1.04 in cash and cash equivalents for every dollar of short-term liabilities. This implies a strong ability to meet immediate financial obligations using cash reserves.

The cash ratio remained relatively stable in Q2 2023 at 1.04 but decreased to 0.95 in Q3 2023. The decline in Q3 could suggest a slight decrease in the company's liquidity position compared to the previous quarter.

In Q1 2023, the cash ratio decreased significantly to 0.78, indicating a potential liquidity challenge in meeting short-term obligations. This could be a cause for concern, as having insufficient cash to cover short-term liabilities may lead to financial difficulties.

Comparing the Q4 2023 cash ratio of 1.04 to the ratios in the same quarter of previous years shows an improvement from Q4 2022 (0.79) and indicates an enhanced liquidity position for Saia Inc.

Overall, the analysis of Saia Inc.'s cash ratio highlights the company's fluctuating liquidity position over the past eight quarters, with particular attention drawn to the significant improvement in Q4 2023 compared to previous periods.