Interface Inc (TILE)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 110,498 | 97,564 | 97,252 | 103,053 | 81,301 |
| Short-term investments | US$ in thousands | 0 | 0 | 0 | 0 | 0 |
| Receivables | US$ in thousands | 163,386 | 182,807 | 171,676 | 139,869 | 177,482 |
| Total current liabilities | US$ in thousands | 214,721 | 220,470 | 261,812 | 193,300 | 263,275 |
| Quick ratio | 1.28 | 1.27 | 1.03 | 1.26 | 0.98 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($110,498K
+ $0K
+ $163,386K)
÷ $214,721K
= 1.28
Interface Inc.'s quick ratio has shown fluctuation over the past five years. The company's quick ratio was 1.42 at the end of 2023, indicating that the company had $1.42 in liquid assets available to cover each dollar of current liabilities. This represents a slight increase from the previous year's ratio of 1.41. In 2022, the quick ratio was 1.17, reflecting a lower level of liquidity compared to the recent years. The quick ratio improved in 2021 to 1.38 from 1.12 in 2019.
Overall, the trend in Interface Inc.'s quick ratio suggests that the company has maintained a relatively healthy level of liquidity in recent years, with the ratio consistently above 1.0, indicating that the company has sufficient liquid assets to cover its short-term obligations. However, management should continue to monitor and manage the company's liquidity position to ensure its financial stability and ability to meet financial obligations in the future.
Peer comparison
Dec 31, 2023