Skyline Corporation (SKY)
Quick ratio
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 495,063 | 747,453 | 435,413 | 262,581 | 209,455 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 64,632 | 67,296 | 90,536 | 57,481 | 45,733 |
| Total current liabilities | US$ in thousands | 389,601 | 248,917 | 350,112 | 263,642 | 186,647 |
| Quick ratio | 1.44 | 3.27 | 1.50 | 1.21 | 1.37 |
March 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($495,063K
+ $—K
+ $64,632K)
÷ $389,601K
= 1.44
The quick ratio for Skyline Corporation has shown fluctuations over the past five years. As of March 31, 2020, the quick ratio was 1.37, indicating that the company had $1.37 in liquid assets available to cover each dollar of current liabilities. This ratio slightly decreased to 1.21 by March 31, 2021, possibly signaling a tighter liquidity position.
However, the quick ratio improved significantly to 1.50 by March 31, 2022, suggesting enhanced ability to meet short-term obligations with quick assets. The ratio saw a substantial increase to 3.27 by March 31, 2023, indicating a strong liquidity position with more than sufficient quick assets relative to current liabilities.
Subsequently, the quick ratio dipped to 1.44 by March 31, 2024, but still remained above 1, implying that the company continues to have an acceptable level of liquidity to meet its short-term financial obligations. Overall, while there have been fluctuations in the quick ratio, Skyline Corporation has generally maintained a sound liquidity position during the period under review.
Peer comparison
Mar 31, 2024