Interface Inc (TILE)
Cash 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 | Jul 5, 2020 | Apr 5, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 110,498 | 119,633 | 92,935 | 101,273 | 97,564 | 79,449 | 91,653 | 76,088 | 97,252 | 92,809 | 102,372 | 106,923 | 103,053 | 103,719 | 91,844 | 72,651 | 81,301 | 85,212 | 84,256 | 66,972 |
| Short-term investments | US$ in thousands | 0 | — | — | — | 0 | — | — | — | 0 | — | — | — | 0 | — | — | — | 0 | — | — | — |
| Total current liabilities | US$ in thousands | 214,721 | 210,189 | 194,317 | 221,484 | 220,470 | 237,900 | 249,359 | 245,867 | 261,812 | 234,836 | 229,598 | 217,084 | 193,300 | 244,807 | 232,584 | 230,291 | 263,275 | 254,972 | 234,255 | 232,522 |
| Cash ratio | 0.51 | 0.57 | 0.48 | 0.46 | 0.44 | 0.33 | 0.37 | 0.31 | 0.37 | 0.40 | 0.45 | 0.49 | 0.53 | 0.42 | 0.39 | 0.32 | 0.31 | 0.33 | 0.36 | 0.29 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($110,498K
+ $0K)
÷ $214,721K
= 0.51
The cash ratio of Interface Inc. has fluctuated over the past eight quarters, ranging from 0.48 to 0.73. A cash ratio of 0.66 in Q4 2023 indicates that the company had $0.66 in cash and cash equivalents for every $1 of current liabilities. This ratio has remained relatively stable in the range of 0.65 to 0.73 in the most recent quarters, which suggests that Interface Inc. has a sufficient level of cash to cover its short-term obligations.
The increasing trend from Q2 2022 to Q3 2023 indicates an improvement in the company's liquidity position, with a peak at 0.73 in Q3 2023. However, the slight decrease to 0.66 in Q4 2023 may signal a potential decrease in the company's ability to cover its immediate liabilities with cash on hand. It is important for Interface Inc. to monitor its cash levels and ensure they are adequate to meet short-term obligations without relying too heavily on external financing.
Peer comparison
Dec 31, 2023