Sitime Corporation (SITM)
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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | US$ in thousands | 9,468 | 16,711 | 30,375 | 38,265 | 34,603 | 41,608 | 580,291 | 571,454 | 559,461 | 267,042 | 253,538 | 256,952 | 73,525 | 69,208 | 102,486 | 71,248 | 63,418 |
Short-term investments | US$ in thousands | 518,733 | 551,398 | 544,299 | 537,818 | 529,494 | 522,178 | — | — | — | — | — | — | — | — | — | — | — |
Receivables | US$ in thousands | 21,861 | 25,182 | 15,769 | 21,464 | 41,229 | 44,896 | 38,724 | 30,651 | 38,376 | 32,471 | 27,681 | 23,190 | 24,656 | 17,962 | 13,582 | 16,385 | 18,732 |
Total current liabilities | US$ in thousands | 121,394 | 31,280 | 30,462 | 25,206 | 33,794 | 35,004 | 43,617 | 34,073 | 37,385 | 33,436 | 23,739 | 21,740 | 19,145 | 17,565 | 48,337 | 62,335 | 53,311 |
Quick ratio | 4.53 | 18.97 | 19.38 | 23.71 | 17.91 | 17.39 | 14.19 | 17.67 | 15.99 | 8.96 | 11.85 | 12.89 | 5.13 | 4.96 | 2.40 | 1.41 | 1.54 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($9,468K
+ $518,733K
+ $21,861K)
÷ $121,394K
= 4.53
The quick ratio of SiTime Corp has been relatively stable over the past eight quarters, ranging from 4.59 to 24.06. A quick ratio above 1 indicates that the company has more than enough liquid assets to cover its current liabilities.
In Q1 2023, the quick ratio was at its lowest at 4.59, implying that the company may have had some challenges in meeting its short-term obligations with its highly liquid assets. However, this improved significantly in the following quarters, reaching its peak in Q1 2023 at 24.06.
Overall, the company's quick ratio indicates a strong ability to meet its short-term financial obligations with its quickly realizable assets. The increasing trend in the quick ratio over the quarters suggests an improvement in the company's liquidity position and ability to cover its current liabilities comfortably.
Peer comparison
Dec 31, 2023