Tidewater Inc (TDW)

Quick 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	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
Receivables	US$ in thousands	-3,350	-4	3,338	—	—	—	-10,196	-11,642	-12,215	8,379	-1,000	68,217	64,922	62,474	70,330	65,692	65,766	128,204	129,700	124,757
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
Quick ratio		0.92	0.83	0.84	0.83	0.83	0.77	0.79	0.56	0.40	1.15	0.94	0.65	1.21	1.13	1.20	1.58	1.66	1.67	1.87	3.04

June 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($315,897K + $—K + $-3,350K) ÷ $340,224K
= 0.92

The quick ratio of Tidewater Inc has fluctuated over the periods provided. In the most recent period, the quick ratio stood at 0.92, indicating that the company had $0.92 in liquid assets available to cover each $1 of current liabilities. This suggests that Tidewater Inc has a relatively strong ability to meet its short-term obligations using its most liquid assets.

Historically, the quick ratio has shown variability, dropping to a low of 0.40 in June 2022 before recovering and peaking at 3.04 in December 2019. A quick ratio below 1.0 may signal potential liquidity issues, as the company may struggle to meet its short-term obligations without relying on selling inventory or raising additional funds.

Overall, Tidewater Inc's quick ratio has demonstrated some fluctuations, but the recent increase to 0.92 indicates a positive trend in the company's liquidity position. Monitoring this ratio over time can provide insights into the company's short-term financial health and ability to manage liquidity effectively.