Teledyne Technologies Incorporated (TDY)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	648,300	638,100	474,700	673,100	199,500
Short-term investments	US$ in thousands	—	700	—	—	200
Total current liabilities	US$ in thousands	1,766,100	1,523,400	1,498,400	760,900	763,200
Cash ratio		0.37	0.42	0.32	0.88	0.26

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($648,300K + $—K) ÷ $1,766,100K
= 0.37

The cash ratio for Teledyne Technologies Inc has fluctuated over the past five years. As of December 31, 2023, the cash ratio stands at 0.49, indicating that the company has $0.49 available in cash and cash equivalents for every $1 of current liabilities.

Compared to the previous years, the cash ratio was relatively stable in 2022 and 2023, hovering around 0.50, which suggests the company maintained a consistent ability to cover its short-term obligations with cash reserves. However, the cash ratio was notably lower in 2021 at 0.40 and in 2019 at 0.34.

The significant increase in the cash ratio in 2021 to 0.99 indicates that Teledyne Technologies Inc had a substantial improvement in its liquidity position, potentially due to increased cash reserves or a reduction in short-term liabilities. On the other hand, the lower cash ratio in 2019 suggests that the company may have had fewer cash resources available to cover its short-term obligations.

Overall, the trend in Teledyne Technologies Inc's cash ratio demonstrates variability over the years, with potential implications for the company's liquidity and ability to meet its short-term financial commitments. It is essential for stakeholders to monitor these ratios to assess the company's financial health and liquidity position.