UFP Technologies Inc (UFPT)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 5,263 | 4,451 | 11,117 | 24,234 | 3,743 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 58,209 | 55,961 | 38,783 | 15,137 | 16,784 |
| Cash ratio | 0.09 | 0.08 | 0.29 | 1.60 | 0.22 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($5,263K
+ $—K)
÷ $58,209K
= 0.09
The cash ratio of UFP Technologies Inc has been fluctuating over the past five years. In 2023, the cash ratio was at 0.09, slightly higher than the previous year's 0.08. The significant decrease in the cash ratio from 2021 to 2022 might have indicated a decrease in the company's ability to cover its short-term liabilities solely with its cash and cash equivalents. However, the ratio improved from 2022 to 2023, although it remains relatively low compared to 2021 and prior years. The sharp decline in the cash ratio from 2020 to 2021, followed by an improvement in 2022, suggests potential fluctuations in the company's liquidity position. Overall, the trend in UFP Technologies Inc's cash ratio indicates some variability in its ability to meet short-term obligations with readily available cash.
Peer comparison
Dec 31, 2023