Titan International Inc (TWI)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 220,251 | 159,577 | 98,108 | 117,431 | 66,799 |
| Short-term investments | US$ in thousands | — | 1,388 | 1,296 | 651 | 578 |
| Total current liabilities | US$ in thousands | 372,375 | 446,161 | 450,813 | 329,711 | 327,153 |
| Cash ratio | 0.59 | 0.36 | 0.22 | 0.36 | 0.21 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($220,251K
+ $—K)
÷ $372,375K
= 0.59
The cash ratio of Titan International, Inc. has shown fluctuations over the past five years. The ratio increased from 0.38 in 2019 to 0.52 in 2020, indicating an improvement in the company's ability to cover its short-term liabilities with cash. However, the ratio decreased to 0.36 in 2021, suggesting a decline in the liquidity position.
In 2022, the cash ratio rose to 0.55, reflecting an enhancement in liquidity compared to the previous year. The latest data for 2023 shows a further increase in the cash ratio to 0.78, indicating a significant improvement in the company's ability to meet its short-term obligations with cash on hand.
Overall, the trend in the cash ratio of Titan International, Inc. suggests fluctuations in the company's liquidity position, with recent years showing a positive trajectory and a stronger ability to cover short-term liabilities with available cash resources.
Peer comparison
Dec 31, 2023