Tetra Tech Inc (TTEK)
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 | 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 | 120,732 | 111,231 | 130,728 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | 8,180 | 7,700 | 7,919 | 7,332 | 6,684 | — | — | — | — | — |
| Receivables | US$ in thousands | 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 | 782,540 | 735,755 | 637,775 |
| Total current liabilities | US$ in thousands | 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 | 769,954 | 646,897 | 624,442 |
| Quick ratio | 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 | 1.17 | 1.31 | 1.23 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($198,689K
+ $—K
+ $1,040,510K)
÷ $1,161,000K
= 1.07
The quick ratio of Tetra Tech, Inc. has fluctuated over the past eight quarters, ranging from a low of 1.12 to a high of 1.42. The quick ratio measures the company's ability to meet its short-term financial obligations with its most liquid assets, excluding inventory. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its current liabilities.
In the most recent quarter (Q1 2024), the quick ratio stands at 1.25, indicating that Tetra Tech has $1.25 in liquid assets available to cover each $1 of current liabilities. This suggests that the company's short-term liquidity position is relatively strong and has improved compared to the previous quarter, Q4 2023 (1.12).
Overall, Tetra Tech's quick ratio trend seems relatively stable, with minor fluctuations within a healthy range above 1. This signals that the company is efficiently managing its short-term obligations and has a solid liquidity position to meet any financial commitments as they come due.
Peer comparison
Dec 31, 2023