Ultra Clean Holdings Inc (UCTT)

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	307,000	342,000	320,800	322,100	358,800	453,500	421,400	367,000	466,500	457,000	451,400	264,300	200,300	176,100	214,400	208,100	162,500	158,690	168,128	154,774
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	45	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	310,000	293,600	294,300	313,700	389,200	407,400	395,400	417,600	469,100	411,000	355,000	263,100	201,200	195,300	226,900	213,000	210,600	162,647	154,969	156,693
Cash ratio		0.99	1.16	1.09	1.03	0.92	1.11	1.07	0.88	0.99	1.11	1.27	1.00	1.00	0.90	0.94	0.98	0.77	0.98	1.08	0.99

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($307,000K + $—K) ÷ $310,000K
= 0.99

The cash ratio of Ultra Clean Holdings Inc has shown some fluctuations over the past several quarters. The ratio measures the company's ability to cover its short-term liabilities using only its cash and cash equivalents.

Looking at the trend, the ratio has ranged from a low of 0.77 to a high of 1.27 over the last five years. A ratio above 1 indicates that the company has more cash and cash equivalents than short-term liabilities, which is generally a positive sign.

The cash ratio was relatively stable in the range of 0.90 to 1.11 from December 2020 to September 2022 before experiencing more significant fluctuations. It peaked at 1.27 in June 2021, indicating a strong ability to cover short-term obligations with available cash.

In more recent quarters, there has been increased variability in the cash ratio, with values ranging from 0.88 to 1.16. This variability may suggest fluctuations in cash balances or short-term liabilities during this period.

Overall, the cash ratio of Ultra Clean Holdings Inc suggests that the company has generally maintained a healthy level of liquidity to meet its short-term obligations, with some fluctuations observed in recent quarters.