TTM Technologies Inc (TTMI)

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	450,208	408,331	398,716	417,452	402,749	335,625	266,546	519,079	537,678	529,816	558,291	539,648	451,565	413,310	694,668	361,992	379,818	316,589	284,466	235,219
Short-term investments	US$ in thousands	—	4,434	4,300	—	—	—	—	—	—	—	—	—	—	—	—	—	20,336	—	40	—
Receivables	US$ in thousands	413,557	390,902	386,903	—	473,225	—	—	—	386,347	388,233	378,762	366,768	381,105	374,971	414,329	458,639	503,671	529,942	—	—
Total current liabilities	US$ in thousands	703,984	688,286	602,384	627,751	761,325	742,890	722,309	586,566	558,148	567,442	554,750	509,154	518,046	787,322	1,197,460	904,363	946,666	666,673	623,955	607,732
Quick ratio		1.23	1.17	1.31	0.66	1.15	0.45	0.37	0.88	1.66	1.62	1.69	1.78	1.61	1.00	0.93	0.91	0.95	1.27	0.46	0.39

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($450,208K + $—K + $413,557K) ÷ $703,984K
= 1.23

The quick ratio of TTM Technologies Inc has shown some fluctuations over the past five years. The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.

For the most recent quarter, on December 31, 2023, the quick ratio was 1.23, indicating that the company had $1.23 of liquid assets available to cover each $1 of current liabilities. This suggests the company had a strong ability to meet its short-term obligations.

Looking at the trend over the past quarters, we observe that the quick ratio has varied. For example, in March 2023, the quick ratio was only 0.66, reflecting a lower level of liquidity compared to other periods. This could raise concerns about the company's ability to meet its short-term obligations at that point in time.

Overall, TTM Technologies Inc has shown some volatility in its quick ratio, signaling fluctuations in the company's liquidity position over the past few years. Analysts and stakeholders should closely monitor this ratio to assess the company's short-term financial health and its ability to cover immediate liabilities with its most liquid assets.