Ultra Clean Holdings Inc (UCTT)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 313,900 | 318,200 | 319,500 | 293,000 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | 45 | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 241,100 | 228,100 | 206,900 | 194,500 | 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 |
| Total current liabilities | US$ in thousands | 335,600 | 358,800 | 351,400 | 329,400 | 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 |
| Quick ratio | 1.65 | 1.52 | 1.50 | 1.48 | 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 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($313,900K
+ $—K
+ $241,100K)
÷ $335,600K
= 1.65
The quick ratio of Ultra Clean Holdings Inc has shown some fluctuation over the period from March 31, 2020, to December 31, 2024. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. It is calculated by dividing the sum of cash, cash equivalents, and accounts receivable by current liabilities.
The quick ratio was relatively stable and healthy from March 31, 2020, to December 31, 2021, ranging between 1.51 and 1.86. This indicates the company had an adequate level of liquid assets to cover its short-term liabilities during this period.
However, there was a noticeable decline in the quick ratio from March 31, 2022, to June 30, 2022, dropping to 0.88 before increasing to 1.69 by September 30, 2022. This decrease may raise concerns about the company's short-term liquidity position.
Subsequently, from December 31, 2022, to December 31, 2024, the quick ratio stabilized between 1.48 and 1.65. While these ratios are still within a reasonable range, it is important for stakeholders to monitor the trend to ensure the company maintains a healthy liquidity position.
Overall, the quick ratio of Ultra Clean Holdings Inc has shown some variability but has generally remained above 1, indicating a sufficient level of liquid assets to cover short-term obligations, with a few fluctuations that may require further analysis and monitoring.
Peer comparison
Dec 31, 2024