Sealed Air Corporation (SEE)
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 | 346,100 | 281,300 | 285,100 | 303,100 | 456,100 | 248,800 | 281,200 | 278,200 | 561,000 | 393,700 | 273,100 | 370,000 | 548,700 | 316,800 | 289,700 | 274,600 | 262,400 | 200,000 | 222,200 | 236,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 581,700 | 612,600 | 598,400 | 608,500 | 736,900 | 753,900 | 732,800 | 775,400 | 732,800 | 766,700 | 744,500 | 690,200 | 681,700 | 663,800 | 600,400 | 581,700 | 669,600 | 571,700 | 630,300 | 593,400 |
| Total current liabilities | US$ in thousands | 1,509,000 | 1,719,900 | 1,850,000 | 1,732,800 | 2,081,800 | 1,877,000 | 1,505,400 | 1,482,900 | 2,007,300 | 1,925,400 | 1,405,900 | 1,326,400 | 1,367,400 | 1,313,200 | 1,354,700 | 1,367,800 | 1,436,200 | 1,502,300 | 1,587,400 | 1,481,100 |
| Quick ratio | 0.61 | 0.52 | 0.48 | 0.53 | 0.57 | 0.53 | 0.67 | 0.71 | 0.64 | 0.60 | 0.72 | 0.80 | 0.90 | 0.75 | 0.66 | 0.63 | 0.65 | 0.51 | 0.54 | 0.56 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($346,100K
+ $—K
+ $581,700K)
÷ $1,509,000K
= 0.61
The quick ratio of Sealed Air Corp. has shown a fluctuating trend over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
From Q1 2022 to Q4 2023, the quick ratio has ranged from 0.60 to 0.79. The ratio peaked at 0.79 in Q4 2023, indicating an improvement in the company's ability to cover its short-term obligations with its quick assets.
However, it is important to note that the quick ratio has been below 1 in all quarters, suggesting that Sealed Air Corp. may have reliance on non-liquid assets to meet its current liabilities. This could potentially indicate a liquidity risk for the company.
Overall, while the recent increase in the quick ratio is a positive sign, it is essential for Sealed Air Corp. to continue monitoring and managing its liquidity position to ensure it can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023