Tidewater Inc (TDW)

Cash ratio

		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	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Cash and cash equivalents	US$ in thousands	315,897	280,853	274,437	275,070	171,261	165,145	164,192	115,014	87,981	136,234	149,037	127,414	131,157	131,858	149,933	192,243	203,119	187,802	218,290	359,332
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1,267
Total current liabilities	US$ in thousands	340,224	339,137	328,731	332,484	206,443	215,343	194,787	184,403	187,621	125,499	157,942	299,880	162,660	172,648	183,179	163,294	162,159	189,635	185,677	159,853
Cash ratio		0.93	0.83	0.83	0.83	0.83	0.77	0.84	0.62	0.47	1.09	0.94	0.42	0.81	0.76	0.82	1.18	1.25	0.99	1.18	2.26

June 30, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($315,897K + $—K) ÷ $340,224K
= 0.93

The cash ratio of Tidewater Inc has exhibited fluctuations over the periods presented. The cash ratio indicates the company's ability to cover its short-term liabilities using its cash and cash equivalents. A higher cash ratio implies a stronger ability to meet short-term obligations without relying on external sources.

Tidewater Inc's cash ratio ranged from a low of 0.42 to a high of 2.26 over the past 20 quarters. The ratio was below 1 for most periods, indicating that the company had less cash and cash equivalents than short-term liabilities in those quarters. However, it is worth noting that the cash ratio improved significantly in some periods, reaching above 1. This suggests that the company had more than enough cash to cover its short-term obligations during those specific quarters.

Analyzing the trend, the cash ratio has shown volatility, with fluctuations from quarter to quarter. It is essential to monitor the cash ratio closely to understand the company's liquidity position and its ability to meet short-term financial commitments. Additionally, factors such as operating cash flow, capital expenditures, and debt repayments can impact the cash ratio and should be considered in a comprehensive analysis of Tidewater Inc's financial health.