Saia Inc (SAIA)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	296,215	187,390	106,588	25,308	248
Short-term investments	US$ in thousands	—	—	—	—	—
Receivables	US$ in thousands	312,747	313,744	276,755	216,995	204,407
Total current liabilities	US$ in thousands	322,056	274,085	321,348	275,754	241,246
Quick ratio		1.89	1.83	1.19	0.88	0.85

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($296,215K + $—K + $312,747K) ÷ $322,056K
= 1.89

The quick ratio of Saia Inc. has shown a positive trend over the past five years, increasing from 0.96 in 2019 to 2.01 in 2023. This indicates an improvement in the company's short-term liquidity position. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1.0 indicates that the company has sufficient liquid assets to cover its current liabilities.

Saia Inc.'s quick ratio was 1.30 in 2021, which suggests that the company had a comfortable margin to cover its short-term obligations. The quick ratio increased to 1.94 in 2022, indicating further strengthening of the company's liquidity position. In 2023, the quick ratio jumped to 2.01, signaling a significant improvement in the company's ability to meet its short-term liabilities.

Overall, the increasing trend in Saia Inc.'s quick ratio reflects positively on the company's liquidity management and financial health. An upward trend in the quick ratio indicates that the company is maintaining a healthy balance between its liquid assets and current liabilities, which is essential for its financial stability and operational growth.