SPX Corp (SPXC)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 99,400 | 147,800 | 388,200 | 64,000 | 50,700 |
| Short-term investments | US$ in thousands | 39,400 | 35,800 | 38,800 | 27,000 | 21,900 |
| Receivables | US$ in thousands | 279,800 | 263,500 | 232,100 | 299,100 | 288,900 |
| Total current liabilities | US$ in thousands | 401,200 | 333,800 | 439,500 | 572,100 | 608,600 |
| Quick ratio | 1.04 | 1.34 | 1.50 | 0.68 | 0.59 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($99,400K
+ $39,400K
+ $279,800K)
÷ $401,200K
= 1.04
The quick ratio of SPX Corp has shown fluctuating trends over the past five years. In 2023, the quick ratio decreased to 1.04 from 1.34 in 2022, indicating a slight decline in the company's ability to meet its short-term obligations with its most liquid assets. However, the quick ratio remains above 1, suggesting that SPX Corp still has an adequate level of liquid assets to cover its current liabilities.
Compared to 2021 and 2020, where the quick ratio was 1.50 and 0.68 respectively, 2023's quick ratio reflects a midpoint between the two extremes. This implies that SPX Corp has improved its liquidity position compared to 2020 but has slightly weakened its liquidity compared to 2021.
Additionally, when considering the quick ratio of 0.59 in 2019, the current ratio of SPX Corp has increased significantly over the past five years, indicating an overall improvement in the company's ability to cover its short-term obligations with its quick assets.
Overall, while there has been some fluctuation in SPX Corp's quick ratio in recent years, the company has maintained a reasonably healthy liquidity position, enabling it to meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023