Snap-On Inc (SNA)
Cash 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 and cash equivalents | US$ in thousands | 1,001,500 | 959,300 | 871,300 | 833,800 | 757,200 | 759,300 | 812,900 | 861,100 | 780,000 | 735,500 | 965,900 | 904,600 | 923,400 | 787,500 | 686,200 | 185,800 | 184,500 | 167,500 | 164,000 | 156,400 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | 349,000 | — | — | — | 340,000 | — | — | — |
| Total current liabilities | US$ in thousands | 941,600 | 981,900 | 962,300 | 999,000 | 971,600 | 993,500 | 986,100 | 1,024,100 | 982,200 | 979,700 | 1,222,100 | 1,234,100 | 1,164,900 | 1,117,000 | 829,400 | 921,900 | 947,600 | 990,100 | 930,800 | 936,000 |
| Cash ratio | 1.06 | 0.98 | 0.91 | 0.83 | 0.78 | 0.76 | 0.82 | 0.84 | 0.79 | 0.75 | 0.79 | 0.73 | 1.09 | 0.71 | 0.83 | 0.20 | 0.55 | 0.17 | 0.18 | 0.17 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,001,500K
+ $—K)
÷ $941,600K
= 1.06
The cash ratio of Snap-On Inc has fluctuated over the past few years, ranging from as low as 0.17 to as high as 1.09. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents, with a higher ratio indicating a stronger liquidity position. Snap-On Inc's cash ratio has generally been above 0.7, indicating that the company has a sufficient amount of cash to cover its short-term obligations.
However, there were some periods, such as in March 2020 and March 2019, where the cash ratio dropped significantly, potentially signaling a lower liquidity position during those times. It is important for investors and stakeholders to closely monitor the cash ratio to assess Snap-On Inc's ability to meet its short-term financial obligations using its available cash resources.
Peer comparison
Dec 31, 2023