Toro Co (TTC)
Cash ratio
| Feb 2, 2024 | Oct 31, 2023 | Aug 4, 2023 | Feb 3, 2023 | Oct 31, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 31, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 31, 2020 | Jul 31, 2020 | May 1, 2020 | Jan 31, 2020 | Oct 31, 2019 | Aug 2, 2019 | May 3, 2019 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 198,500 | 193,100 | 147,926 | 174,037 | 188,250 | 231,564 | 263,233 | 192,959 | 405,612 | 535,330 | 497,635 | 433,394 | 479,892 | 394,141 | 200,004 | 108,914 | 151,828 | 143,317 | 180,078 | 249,965 |
| Short-term investments | US$ in thousands | — | — | 1,328,280 | — | — | — | — | — | — | 19,272 | 25,295 | 22,955 | 19,745 | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 921,900 | 948,600 | 907,498 | 988,000 | 1,063,600 | 1,011,260 | 1,110,730 | 986,064 | 937,019 | 958,440 | 988,904 | 819,541 | 855,797 | 797,112 | 855,733 | 824,307 | 756,970 | 756,403 | 841,774 | 564,978 |
| Cash ratio | 0.22 | 0.20 | 1.63 | 0.18 | 0.18 | 0.23 | 0.24 | 0.20 | 0.43 | 0.58 | 0.53 | 0.56 | 0.58 | 0.49 | 0.23 | 0.13 | 0.20 | 0.19 | 0.21 | 0.44 |
February 2, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($198,500K
+ $—K)
÷ $921,900K
= 0.22
The cash ratio of Toro Co. has shown fluctuations over the past eight quarters, ranging from 0.23 to 0.33. The cash ratio indicates the company's ability to cover its current liabilities with its available cash and cash equivalents.
In Q1 2024, the cash ratio was 0.33, indicating that Toro Co. had $0.33 in cash and cash equivalents for every dollar of current liabilities. This suggests a healthy liquidity position compared to previous quarters.
The trend of the cash ratio over the past quarters shows some variability but generally remains within the range of 0.23 to 0.33. This indicates fluctuations in the company's liquidity position, with some periods showing stronger ability to cover short-term obligations with cash on hand.
Overall, Toro Co. has maintained a relatively stable cash ratio over the quarters analyzed, reflecting a moderate level of liquidity. Further analysis of the company's cash management strategies and future cash flow projections may provide insights into its ability to meet short-term obligations efficiently.