Ultra Clean Holdings Inc (UCTT)

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	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	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	180,800	170,500	178,600	190,300	253,700	236,000	—	—	250,100	232,500	210,400	168,000	145,500	145,500	138,900	113,200	112,700	110,388	—	110,971
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
Quick ratio		1.57	1.75	1.70	1.63	1.57	1.69	1.07	0.88	1.53	1.68	1.86	1.64	1.72	1.65	1.56	1.51	1.31	1.65	1.08	1.70

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($307,000K + $—K + $180,800K) ÷ $310,000K
= 1.57

The quick ratio of Ultra Clean Holdings Inc has shown volatility over the past few quarters, ranging from 0.88 to 1.86. A quick ratio above 1 indicates that the company can cover its short-term liabilities with its most liquid assets (such as cash and marketable securities).

In the most recent quarter (Dec 31, 2023), the quick ratio was at 1.57, which indicates a healthy ability to meet short-term obligations. It was higher compared to the previous quarter, implying improved liquidity position.

However, it is important to note the significant fluctuations in the quick ratio over time, as it may suggest variations in the company's ability to quickly cover its short-term liabilities. Continued monitoring of the quick ratio will be essential to assess the company's ongoing liquidity position.