Sterling Construction Company Inc (STRL)
Cash ratio
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 638,647 | 664,195 | 648,127 | 539,985 | 480,414 | 471,563 | 409,398 | 278,121 | 202,576 | 181,544 | 146,479 | 72,905 | 80,395 | 81,840 | 117,702 | 93,630 | 61,402 | 66,185 | 72,593 | 70,612 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 756,769 | 741,958 | 839,036 | 820,856 | 705,717 | 678,168 | 685,837 | 567,765 | 444,689 | 446,611 | 512,308 | 407,389 | 339,514 | 351,760 | 357,724 | 346,242 | 322,246 | 321,884 | 357,369 | 337,692 |
| Cash ratio | 0.84 | 0.90 | 0.77 | 0.66 | 0.68 | 0.70 | 0.60 | 0.49 | 0.46 | 0.41 | 0.29 | 0.18 | 0.24 | 0.23 | 0.33 | 0.27 | 0.19 | 0.21 | 0.20 | 0.21 |
March 31, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($638,647K
+ $—K)
÷ $756,769K
= 0.84
The cash ratio of Sterling Construction Company Inc. exhibits an overall upward trend from June 30, 2020, to March 31, 2025. Starting at 0.21 in June 2020, the ratio fluctuated slightly in the subsequent quarters, remaining between approximately 0.19 and 0.33 through September 2021, indicating a relatively stable and modest level of liquidity in relation to current liabilities during this period.
From late 2021 onward, a notable increase in the cash ratio is observable. By December 31, 2021, it reached 0.23, and continued to rise steadily over the following quarters. The ratio accelerated significantly in 2022, surpassing 0.40 in December 2022, then climbing further to 0.46 in March 2023 and reaching as high as 0.70 by December 2023.
This upward trajectory persisted into 2024, with the ratio peaking at 0.90 in December 2024, signaling a considerable strengthening of the company’s liquidity position. The trend continued into the first quarter of 2025, maintaining a high level of 0.84.
Overall, the progression of the cash ratio suggests that Sterling Construction Company Inc. has been increasing its cash holdings relative to its current liabilities over the analyzed period. This shift indicates an improvement in the company's liquidity position, enhancing its capacity to meet short-term obligations without relying heavily on other current assets. The increasing cash ratio also reflects a more conservative liquidity stance in recent years, possibly signaling prudent cash management or strategic liquidity accumulation.
Peer comparison
Mar 31, 2025