SPX Corp (SPXC)
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 | 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 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 279,800 | 304,700 | 281,500 | — | 263,500 | — | — | — | 232,100 | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick ratio | 1.04 | 0.90 | 0.83 | 0.54 | 1.34 | 0.49 | 0.52 | 0.67 | 1.50 | 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
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($99,400K
+ $39,400K
+ $279,800K)
÷ $401,200K
= 1.04
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets.
The quick ratio of SPX Corp has shown fluctuations over the historical period provided. In recent quarters, the quick ratio has ranged from 0.83 to 1.04, indicating the company's ability to cover its current liabilities with its quick assets.
A quick ratio above 1 suggests that the company can meet its short-term obligations using its liquid assets. SPX Corp maintained quick ratios above 1 in most quarters, indicating a strong ability to cover its near-term liabilities.
However, there are quarters where the quick ratio fell below 1, such as in March 2021 and June 2021, which may raise concerns about the company's liquidity position during those periods.
Overall, the trend in the quick ratio for SPX Corp indicates a generally healthy liquidity position, but it is important to monitor fluctuations to ensure the company can continue to meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023