TechTarget, Inc. Common Stock (TTGT)
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 | 278,519 | 237,405 | 230,436 | 226,668 | 212,106 | 238,022 | 307,089 | 344,523 | 364 | 374,144 | 375,133 | 361,623 | 99,383 | 109,038 | 93,841 | 82,616 | 57,408 | 50,390 | 40,279 | 52,487 |
| Short-term investments | US$ in thousands | 77,310 | 101,980 | 100,749 | 99,601 | 97,392 | 96,279 | 45,590 | 20,210 | 20 | 19,907 | 20,020 | 20,076 | 5,085 | 84 | 84 | 84 | 5,064 | 5,023 | 4,887 | 5,012 |
| Receivables | US$ in thousands | 40,438 | 42,774 | 36,880 | 39,239 | 43,342 | 50,988 | 51,375 | 60,359 | 61 | 60,176 | 51,009 | 51,095 | 45,528 | 39,718 | 37,589 | 40,183 | 24,380 | 25,568 | 23,554 | 27,102 |
| Total current liabilities | US$ in thousands | 38,677 | 41,570 | 43,552 | 36,990 | 38,658 | 39,765 | 47,402 | 57,888 | 60 | 70,373 | 65,449 | 70,000 | 63,264 | 52,294 | 46,724 | 46,418 | 18,216 | 19,339 | 15,354 | 16,403 |
| Quick ratio | 10.25 | 9.19 | 8.45 | 9.88 | 9.13 | 9.69 | 8.52 | 7.34 | 7.42 | 6.45 | 6.82 | 6.18 | 2.37 | 2.85 | 2.81 | 2.65 | 4.77 | 4.19 | 4.48 | 5.16 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($278,519K
+ $77,310K
+ $40,438K)
÷ $38,677K
= 10.25
TechTarget, Inc.'s quick ratio has shown a generally positive trend over the past few years, indicating a strong ability to meet its short-term obligations with its most liquid assets. The quick ratio started at a high of 5.16 at the end of 2019 and remained above 4 in subsequent periods until the end of 2020, reflecting a comfortable liquidity position.
However, there was a noticeable decline in the quick ratio at the end of 2020 to 2.65, which may have raised concerns about the company's short-term liquidity. This was followed by an improvement in the quick ratio to around 2.85 by mid-2021, signaling a recovery in liquidity.
From the end of 2021 onwards, the quick ratio demonstrated a significant upward trend, reaching a high of 10.25 at the end of the third quarter of 2024. This substantial increase indicates that TechTarget, Inc. has greatly improved its ability to cover its short-term liabilities with its quick assets, showcasing a strengthened liquidity position.
Overall, the trend in TechTarget, Inc.'s quick ratio suggests that the company has effectively managed its short-term liquidity over the past few years, with a recent significant improvement demonstrating a robust financial position.
Peer comparison
Sep 30, 2024