Titan International Inc (TWI)
Cash 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 and cash equivalents | US$ in thousands | 220,251 | 211,902 | 196,452 | 164,116 | 159,577 | 116,581 | 116,703 | 98,144 | 98,108 | 94,640 | 95,804 | 95,954 | 117,431 | 98,772 | 80,160 | 60,378 | 66,799 | 78,603 | 66,366 | 68,315 |
| Short-term investments | US$ in thousands | — | — | — | — | 1,388 | — | — | — | — | — | — | — | — | — | — | — | 2,026 | — | — | — |
| Total current liabilities | US$ in thousands | 372,375 | 374,818 | 403,246 | 467,862 | 446,161 | 470,952 | 497,259 | 491,895 | 450,813 | 436,912 | 413,613 | 382,246 | 329,711 | 315,254 | 298,571 | 341,952 | 327,153 | 365,948 | 392,622 | 439,244 |
| Cash ratio | 0.59 | 0.57 | 0.49 | 0.35 | 0.36 | 0.25 | 0.23 | 0.20 | 0.22 | 0.22 | 0.23 | 0.25 | 0.36 | 0.31 | 0.27 | 0.18 | 0.21 | 0.21 | 0.17 | 0.16 |
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 a generally increasing trend over the past eight quarters. The cash ratio, which measures the company's ability to cover its short-term liabilities with cash and cash equivalents, reached its highest point of 0.78 in Q4 2023, indicating an improvement in the company's liquidity position.
The trend indicates that Titan International, Inc. has been managing its cash and cash equivalents efficiently, with a higher proportion of cash available to cover its short-term obligations. This increasing cash ratio suggests that the company may be better equipped to meet its financial obligations and emergencies without resorting to external financing.
Overall, the increasing cash ratio trend in the past quarters is a positive indicator of Titan International, Inc.'s liquidity position and its ability to manage short-term financial commitments. However, further analysis and comparison with industry benchmarks are necessary to fully assess the company's liquidity health.
Peer comparison
Dec 31, 2023