SkyWest Inc (SKYW)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 148,277 | 102,984 | 258,421 | 215,723 | 87,206 |
| Short-term investments | US$ in thousands | 686,946 | 944,231 | 601,989 | 610,185 | 432,966 |
| Receivables | US$ in thousands | 82,900 | 100,500 | 65,300 | 34,500 | 83,000 |
| Total current liabilities | US$ in thousands | 1,254,290 | 1,172,540 | 1,194,620 | 941,722 | 924,676 |
| Quick ratio | 0.73 | 0.98 | 0.77 | 0.91 | 0.65 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($148,277K
+ $686,946K
+ $82,900K)
÷ $1,254,290K
= 0.73
The quick ratio of Skywest Inc. has shown variability over the past five years, ranging from 0.70 to 1.06. In 2023, the quick ratio stood at 0.80, indicating a decline from the previous year. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio below 1.0 suggests that Skywest Inc. may have difficulty meeting its short-term liabilities with its current quick assets alone. It is important for the company to monitor and improve its quick ratio over time to ensure sufficient liquidity and financial stability.
Peer comparison
Dec 31, 2023