Tetra Tech Inc (TTEK)
Quick ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 232,689 | 212,321 | 210,294 | 198,689 | 168,831 | 176,056 | 231,388 | 164,397 | 185,094 | 217,384 | 194,378 | 205,542 | 166,568 | 234,266 | 225,330 | 163,438 | 157,515 | 141,658 | 134,981 | 110,833 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | 8,180 | 7,700 | 7,919 | 7,332 | 6,684 | — | — |
| Receivables | US$ in thousands | 1,073,430 | 1,053,760 | 1,037,880 | 1,040,510 | 984,158 | 1,002,090 | — | — | 755,112 | — | — | — | 683,258 | 685,174 | 656,302 | 688,813 | 668,544 | 643,745 | 681,191 | 745,611 |
| Total current liabilities | US$ in thousands | 1,219,530 | 1,246,260 | 1,193,930 | 1,161,000 | 1,208,140 | 1,212,160 | 1,172,980 | 870,615 | 916,017 | 945,465 | 855,191 | 849,268 | 848,483 | 811,348 | 796,702 | 754,721 | 793,456 | 732,660 | 735,755 | 712,476 |
| Quick ratio | 1.07 | 1.02 | 1.05 | 1.07 | 0.95 | 0.97 | 0.20 | 0.19 | 1.03 | 0.23 | 0.23 | 0.24 | 1.00 | 1.14 | 1.12 | 1.14 | 1.05 | 1.08 | 1.11 | 1.20 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($232,689K
+ $—K
+ $1,073,430K)
÷ $1,219,530K
= 1.07
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
Looking at the quick ratio trend for Tetra Tech Inc over the past few quarters, we see some fluctuations. In the most recent quarter, the quick ratio was 1.07, indicating a relatively strong ability to cover short-term liabilities. This was an improvement compared to the previous quarter, where the quick ratio was 1.02.
However, if we delve further back, we see some significant fluctuations in the quick ratio. For example, in the first quarter of 2023, the quick ratio dropped to a very low level of 0.20, which could be a cause for concern as it suggests the company may have had difficulties meeting its short-term obligations with its liquid assets at that time.
Overall, while the recent quick ratio for Tetra Tech Inc appears solid, investors and analysts may want to monitor the ratio over time to ensure that the company maintains a healthy liquidity position to cover its short-term liabilities.
Peer comparison
Sep 30, 2024