UFP Technologies Inc (UFPT)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 5,263 | 4,451 | 11,117 | 24,234 | 3,743 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 64,449 | 55,117 | 39,384 | 26,428 | 28,648 |
| Total current liabilities | US$ in thousands | 58,209 | 55,961 | 38,783 | 15,137 | 16,784 |
| Quick ratio | 1.20 | 1.06 | 1.30 | 3.35 | 1.93 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($5,263K
+ $—K
+ $64,449K)
÷ $58,209K
= 1.20
The quick ratio of UFP Technologies Inc has fluctuated over the past five years.
In 2023, the quick ratio was 1.20, indicating that the company had $1.20 of highly liquid assets available to cover each dollar of current liabilities. This represents an improvement from 2022 when the quick ratio was 1.06, suggesting a better ability to meet short-term obligations.
Comparing to the quick ratio of 1.30 in 2021, the quick ratio decreased in 2023, indicating a slightly lower level of liquidity. However, UFP Technologies Inc had a significantly higher quick ratio of 3.35 in 2020, which could indicate a surplus of highly liquid assets to cover short-term liabilities.
Overall, the trend in the quick ratio fluctuates, but it is important for stakeholders to monitor the company's ability to cover its short-term obligations with highly liquid assets for assessing its financial stability and liquidity position.
Peer comparison
Dec 31, 2023