Saia Inc (SAIA)

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	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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	312,747	345,940	299,551	294,917	313,744	335,595	357,052	322,343	276,755	295,862	262,711	242,895	216,995	226,677	206,281	217,436	204,407	218,000	227,046	202,133
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
Quick ratio		1.89	1.99	2.00	1.71	1.83	1.43	1.46	1.37	1.19	1.23	1.11	0.96	0.88	0.91	0.95	1.06	0.85	0.89	0.96	0.96

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 generally positive trend over the past eight quarters, indicating the company's ability to meet its short-term obligations with its most liquid assets. The quick ratio has consistently been above 1, signaling that Saia Inc. has an adequate level of liquid assets to cover its current liabilities.

The quick ratio was strongest in Q2 and Q3 of 2023, standing at 2.17 and 2.16, respectively. This suggests that Saia Inc. had a higher level of quick assets, such as cash and accounts receivable, relative to its current liabilities during these periods.

The lowest quick ratio in the timeframe provided was in Q1 of 2022 at 1.51, indicating a slight weakness in the company's liquidity position during that quarter. However, overall, the trend has been positive and indicates a healthy liquidity position for Saia Inc.

It is important for the company to maintain a sufficient quick ratio to ensure it can cover its short-term obligations without having to rely on selling inventory or other less liquid assets. This analysis of the quick ratio suggests that Saia Inc. has been managing its liquidity effectively over the past two years.