Scotts Miracle-Gro Company (SMG)
Cash ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 and cash equivalents | US$ in thousands | 71,600 | 279,900 | 65,100 | 10,400 | 31,900 | 27,400 | 25,000 | 25,600 | 86,800 | 27,800 | 17,100 | 16,400 | 244,100 | 58,300 | 14,400 | 21,500 | 16,600 | 48,300 | 30,800 | 27,400 |
| Short-term investments | US$ in thousands | — | 11,800 | 5,800 | 14,400 | 16,700 | 16,300 | 12,700 | 14,200 | 117,000 | 8,000 | — | — | 207,000 | 224,000 | — | 202,000 | — | — | — | — |
| Total current liabilities | US$ in thousands | 750,300 | 854,400 | 1,060,300 | 764,100 | 773,700 | 1,329,100 | 1,372,500 | 931,700 | 963,900 | 1,071,900 | 1,470,300 | 915,200 | 1,140,400 | 1,036,800 | 1,347,500 | 1,054,500 | 950,400 | 1,106,700 | 981,200 | 609,700 |
| Cash ratio | 0.10 | 0.34 | 0.07 | 0.03 | 0.06 | 0.03 | 0.03 | 0.04 | 0.21 | 0.03 | 0.01 | 0.02 | 0.40 | 0.27 | 0.01 | 0.21 | 0.02 | 0.04 | 0.03 | 0.04 |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($71,600K
+ $—K)
÷ $750,300K
= 0.10
The cash ratio of Scotts Miracle-Gro Company has shown fluctuating trends over the past few quarters. The cash ratio measures the company's ability to cover its short-term obligations with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term liabilities.
In the most recent quarter, as of September 30, 2024, the cash ratio stood at 0.10, indicating that the company had $0.10 in cash for every $1 of short-term liabilities. This ratio was lower in comparison to the previous quarter, where it was at 0.34 as of June 30, 2024, suggesting a decrease in the company's liquidity position over the period.
Looking back further, the company's cash ratio has shown varied results, with peaks and troughs observed in different quarters. For example, the cash ratio was at its highest in March 2021, at 0.40, indicating a substantial cash position relative to short-term obligations. Conversely, the cash ratio was lowest in March 2020, at 0.01, reflecting potential liquidity challenges in that period.
Overall, the analysis of Scotts Miracle-Gro Company's cash ratio highlights the importance of monitoring liquidity levels, as fluctuations can impact the company's ability to meet its short-term financial obligations effectively. It is essential for investors and stakeholders to assess the company's cash management strategies and potential risks associated with liquidity constraints based on these trends.
Peer comparison
Sep 30, 2024