SkyWest Inc (SKYW)

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	148,277	125,330	114,433	74,524	102,984	38,850	96,071	246,001	258,421	271,831	345,854	231,005	215,723	418,228	452,247	289,544	87,206	307,909	253,661	290,885
Short-term investments	US$ in thousands	686,946	694,171	747,916	861,335	944,231	965,347	878,608	610,450	601,989	640,673	609,821	605,438	610,185	403,793	309,823	288,351	432,966	263,597	295,900	253,397
Receivables	US$ in thousands	82,900	136,300	123,100	120,000	100,500	94,200	97,000	89,400	65,300	—	—	—	34,500	3,557	18,915	18,945	83,000	24,478	23,077	78,370
Total current liabilities	US$ in thousands	1,254,290	1,205,670	1,165,990	1,152,100	1,172,540	1,159,900	1,198,410	1,142,290	1,194,620	1,137,760	1,109,360	950,438	941,722	859,904	986,187	1,019,840	924,676	961,539	927,328	945,327
Quick ratio		0.73	0.79	0.85	0.92	0.98	0.95	0.89	0.83	0.77	0.80	0.86	0.88	0.91	0.96	0.79	0.59	0.65	0.62	0.62	0.66

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 fluctuated over the past eight quarters, ranging from 0.80 to 1.06. The decreasing trend observed from Q1 2023 to Q4 2023 indicates a potential weakening liquidity position, as the company may have less ability to cover its short-term obligations with its most liquid assets. However, the quick ratio has generally remained above 1, suggesting that Skywest Inc. has been able to meet its short-term liabilities with its most readily available assets throughout this period. It is important for the company to closely monitor its quick ratio and take appropriate measures to ensure its liquidity remains at a healthy level.