SPX Corp (SPXC)
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 | 99,400 | 100,900 | 87,100 | 204,800 | 147,800 | 183,400 | 189,800 | 262,800 | 388,200 | 553,700 | 50,300 | 90,700 | 64,000 | 70,700 | 190,200 | 163,100 | 50,700 | 49,300 | 34,600 | 39,000 |
| Short-term investments | US$ in thousands | 39,400 | 39,400 | 39,400 | 9,100 | 35,800 | — | — | — | 38,800 | — | — | — | — | 70,300 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 401,200 | 493,700 | 489,600 | 393,900 | 333,800 | 374,400 | 368,200 | 393,900 | 439,500 | 477,500 | 707,600 | 586,800 | 572,100 | 562,200 | 704,000 | 702,100 | 608,600 | 466,800 | 466,600 | 495,000 |
| Cash ratio | 0.35 | 0.28 | 0.26 | 0.54 | 0.55 | 0.49 | 0.52 | 0.67 | 0.97 | 1.16 | 0.07 | 0.15 | 0.11 | 0.25 | 0.27 | 0.23 | 0.08 | 0.11 | 0.07 | 0.08 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($99,400K
+ $39,400K)
÷ $401,200K
= 0.35
The cash ratio of SPX Corp has fluctuated over the past several quarters. It measures the company's ability to cover its short-term liabilities with cash and cash equivalents.
In the most recent quarter, the cash ratio was 0.35, indicating that SPX Corp had $0.35 in cash and cash equivalents for every $1 of current liabilities. This suggests that the company may have some room for improvement in terms of liquidity.
Looking back over the previous quarters, we can see that the cash ratio has varied between 0.07 and 1.16. The ratio dipped to 0.07 in the second quarter of 2021, representing a relatively low level of liquidity available to cover short-term obligations. However, it increased to 1.16 in the third quarter of 2021, showing a significant improvement in cash reserves relative to liabilities.
Overall, the trend in the cash ratio for SPX Corp indicates some variability in liquidity management. It is important for the company to maintain an adequate level of cash on hand to meet its short-term financial obligations and to ensure financial stability. Further analysis of the company's cash management practices and overall financial health would provide additional insights into its liquidity position.
Peer comparison
Dec 31, 2023