EchoStar Corporation (SATS)
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 | 1,821,380 | 1,094,530 | 702,055 | 920,105 | 2,497,540 | 901,269 | 991,595 | 889,199 | 535,894 | 429,656 | 716,522 | 1,583,750 | 896,005 | 555,550 | 1,948,460 | 1,599,020 | 1,519,430 | 1,547,160 | 1,298,000 | 1,349,720 |
| Short-term investments | US$ in thousands | 623,044 | 1,037,330 | 1,311,030 | 865,159 | 1,092,700 | 814,774 | 693,331 | 820,819 | 1,153,440 | 1,312,320 | 1,028,350 | 883,975 | 1,662,710 | 1,969,150 | 537,528 | 820,034 | 976,189 | 1,035,500 | 1,256,060 | 1,990,000 |
| Receivables | US$ in thousands | 1,122,140 | 235,421 | 238,967 | 260,054 | 239,971 | 249,107 | 230,427 | 217,601 | 199,012 | 201,751 | 186,945 | 187,280 | 183,989 | 190,950 | 183,379 | 187,919 | 196,629 | 216,904 | 215,504 | 236,068 |
| Total current liabilities | US$ in thousands | 8,018,590 | 396,679 | 398,181 | 378,173 | 6,442,610 | 406,216 | 434,363 | 423,674 | 460,123 | 487,297 | 547,104 | 1,331,780 | 1,425,170 | 1,374,730 | 1,361,910 | 446,217 | 496,019 | 461,741 | 471,662 | 1,346,000 |
| Quick ratio | 0.44 | 5.97 | 5.66 | 5.41 | 0.59 | 4.84 | 4.41 | 4.55 | 4.10 | 3.99 | 3.53 | 1.99 | 1.92 | 1.98 | 1.96 | 5.84 | 5.43 | 6.06 | 5.87 | 2.66 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,821,380K
+ $623,044K
+ $1,122,140K)
÷ $8,018,590K
= 0.44
The quick ratio of EchoStar Corporation fluctuated significantly over the past five years, ranging from a low of 0.44 to a high of 6.06. This ratio measures the company's ability to meet its short-term obligations using its most liquid assets, excluding inventory.
The quick ratio was relatively stable and above 4 for most quarters in 2022 and 2023, indicating a strong short-term liquidity position. The company had a notably high quick ratio in September 2019, March 2020, and December 2020, possibly due to higher cash reserves or investments that are easily convertible into cash.
In contrast, there were quarters where the quick ratio dropped below 1 (e.g., December 2019 and December 2022), suggesting potential liquidity concerns if current liabilities were due immediately. However, these isolated instances may not pose a significant risk if the company has access to other sources of liquidity or if these temporary liquidity shortages were managed effectively.
Overall, while the quick ratio can vary significantly quarter by quarter, the general trend indicates that EchoStar Corporation has maintained a healthy level of short-term liquidity over the years, which is crucial for meeting its financial obligations promptly.
Peer comparison
Dec 31, 2023