Tootsie Roll Industries Inc (TR)
Quick 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 75,915 | 47,320 | 26,047 | 37,992 | 53,270 | 57,216 | 46,628 | 86,800 | 105,840 | 76,210 | 96,617 | 136,291 | 166,841 | 108,264 | 106,289 | 139,067 | 138,960 | 87,400 | 57,857 | 77,670 |
| Short-term investments | US$ in thousands | 95,507 | 88,080 | 83,165 | 85,880 | 96,128 | 88,510 | 76,462 | 58,727 | 39,968 | 39,491 | 42,584 | 42,396 | 42,090 | 58,265 | 80,096 | 77,510 | 100,444 | 76,766 | 82,703 | 81,986 |
| Receivables | US$ in thousands | 55,568 | 80,118 | 49,802 | 59,392 | 58,556 | 82,315 | 44,706 | 51,954 | 54,921 | 80,877 | 36,133 | 34,620 | 41,209 | 67,377 | 30,010 | 36,006 | 45,044 | 88,241 | 36,824 | 43,868 |
| Total current liabilities | US$ in thousands | 94,888 | 105,634 | 90,995 | 77,328 | 90,134 | 101,519 | 82,474 | 80,259 | 79,968 | 94,637 | 75,599 | 65,941 | 70,021 | 78,074 | 84,192 | 77,186 | 79,544 | 77,409 | 60,287 | 53,049 |
| Quick ratio | 2.39 | 2.04 | 1.75 | 2.37 | 2.31 | 2.25 | 2.03 | 2.46 | 2.51 | 2.08 | 2.32 | 3.23 | 3.57 | 3.00 | 2.57 | 3.27 | 3.58 | 3.26 | 2.94 | 3.84 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($75,915K
+ $95,507K
+ $55,568K)
÷ $94,888K
= 2.39
The quick ratio for Tootsie Roll Industries, Inc. has shown some fluctuation over the past eight quarters. In the most recent quarter, Q4 2023, the quick ratio stands at 2.59, indicating that the company had $2.59 of liquid assets available to cover each dollar of current liabilities. This suggests a strong ability to meet its short-term obligations.
The quick ratio dipped in Q3 2023 to 2.16, which may have raised concerns momentarily as it decreased compared to the previous quarter. However, it rebounded in Q4 2023, surpassing the quick ratio from the same quarter in the previous year, Q4 2022.
Overall, the quick ratio has generally been healthy and well above 1 in all quarters, demonstrating that Tootsie Roll Industries has a comfortable margin of safety in meeting its short-term financial commitments using its most liquid assets. It is important to monitor this ratio closely, as it provides insights into the company's liquidity and ability to manage its current liabilities effectively.
Peer comparison
Dec 31, 2023