Shenandoah Telecommunications Co (SHEN)

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	139,255	35,966	26,304	48,396	44,061	33,033	33,335	53,981	84,344	532,544	248,789	229,182	195,397	184,050	143,712	120,232	101,651	97,415	98,091	69,859
Short-term investments	US$ in thousands	2,290	2,027	2,116	1,993	1,889	1,739	1,812	2,173	2,317	2,165	2,228	2,039	2,687	2,255	2,096	1,706	2,278	2,102	2,107	2,037
Receivables	US$ in thousands	24,473	23,498	19,991	20,933	50,370	53,049	47,044	45,486	52,193	25,026	65,977	66,618	70,393	67,761	96,134	69,683	73,847	63,067	63,705	58,153
Total current liabilities	US$ in thousands	98,355	84,421	81,831	92,236	96,421	78,941	71,054	57,058	67,290	485,423	1,156,540	1,202,320	1,208,060	1,232,110	145,327	139,644	153,577	132,055	127,781	119,121
Quick ratio		1.69	0.73	0.59	0.77	1.00	1.11	1.16	1.78	2.06	1.15	0.27	0.25	0.22	0.21	1.66	1.37	1.16	1.23	1.28	1.09

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($139,255K + $2,290K + $24,473K) ÷ $98,355K
= 1.69

The quick ratio of Shenandoah Telecommunications Co. fluctuated over the past eight quarters, ranging from a low of 0.72 in Q2 2023 to a high of 2.20 in Q1 2022. The company's quick ratio improved from Q2 2023 to Q4 2023, increasing to 1.78, indicating a stronger ability to cover its short-term obligations with its most liquid assets. However, this improvement followed a significant decrease from Q1 2023 to Q2 2023.

The quick ratio measures the company's ability to meet its short-term liabilities using its most liquid assets, excluding inventory. A quick ratio above 1 suggests that the company has an adequate level of liquid assets to cover its short-term obligations. In the case of Shenandoah Telecommunications Co., the recent quick ratios have generally been above 1, with Q1 2022 showing a particularly strong liquidity position with a quick ratio of 2.20.

Overall, although the quick ratio of Shenandoah Telecommunications Co. has shown variability over the past two years, it is currently in a relatively healthy range, indicating the company's ability to meet its short-term obligations using its readily available assets.