Snap-On Inc (SNA)
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 | 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 | — | — | — |
| Receivables | US$ in thousands | 1,506,200 | 1,493,900 | 1,487,000 | -31,200 | 1,433,800 | -28,800 | -28,100 | -28,400 | 1,335,000 | -31,500 | -29,500 | -25,800 | 1,283,400 | 1,264,300 | 1,169,700 | 1,241,700 | 1,325,400 | 1,218,300 | 1,213,100 | 1,201,200 |
| 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 |
| Quick ratio | 2.66 | 2.50 | 2.45 | 0.80 | 2.26 | 0.74 | 0.80 | 0.81 | 2.15 | 0.72 | 0.77 | 0.71 | 2.19 | 1.84 | 2.24 | 1.55 | 1.95 | 1.40 | 1.48 | 1.45 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,001,500K
+ $—K
+ $1,506,200K)
÷ $941,600K
= 2.66
Snap-On Inc's quick ratio has shown fluctuations over the past few quarters. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company can cover its current liabilities with its quick assets.
Analyzing Snap-On Inc's quick ratio data:
- The quick ratio ranged between 0.71 to 2.66 over the past 20 quarters.
- In the recent quarter of December 2023, the quick ratio was 2.66, indicating a strong ability to cover current liabilities with quick assets.
- However, in March 2023 and September 2022, the quick ratio dropped significantly to 0.80 and 0.74, respectively, suggesting a potential liquidity strain during those periods.
- The quick ratio improved in the subsequent quarters, reaching 2.26 in December 2022 and 2.19 in December 2020.
- Overall, Snap-On Inc's quick ratio has shown improvements and variations, highlighting the importance of monitoring liquidity levels for short-term obligations.
Peer comparison
Dec 31, 2023