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