United Natural Foods Inc (UNFI)
Quick ratio
| Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | Apr 27, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 34,000 | 37,000 | 37,000 | 38,000 | 40,000 | 39,000 | 44,000 | 48,000 | 45,000 | 46,000 | 41,000 | 39,495 | 40,496 | 49,046 | 47,000 | 56,425 | 40,064 | 39,758 | 44,468 | 37,861 |
| Short-term investments | US$ in thousands | — | — | 17,000 | 15,000 | 17,000 | 16,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,020,000 | 1,039,000 | 908,000 | 1,007,000 | 1,012,000 | 1,377,000 | 1,233,000 | 1,246,000 | 1,257,000 | 1,264,000 | 1,119,000 | — | 1,152,500 | 1,182,270 | 1,139,630 | — | — | — | 1,088,960 | 1,066,830 |
| Total current liabilities | US$ in thousands | 2,336,000 | 2,577,000 | 2,405,000 | 2,455,000 | 2,396,000 | 2,565,000 | 2,417,000 | 2,389,000 | 2,555,000 | 2,691,000 | 2,487,000 | 2,264,910 | 2,293,640 | 2,374,220 | 2,370,000 | 2,477,570 | 2,159,050 | 2,280,300 | 2,108,940 | 2,102,150 |
| Quick ratio | 0.45 | 0.42 | 0.40 | 0.43 | 0.45 | 0.56 | 0.53 | 0.54 | 0.51 | 0.49 | 0.47 | 0.02 | 0.52 | 0.52 | 0.50 | 0.02 | 0.02 | 0.02 | 0.54 | 0.53 |
January 27, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($34,000K
+ $—K
+ $1,020,000K)
÷ $2,336,000K
= 0.45
The quick ratio of United Natural Foods Inc. has shown some fluctuation over the eight quarters presented in the table. The quick ratio, which measures the company's ability to meet its short-term obligations with its most liquid assets, such as cash and accounts receivable, ranged from a low of 0.49 to a high of 0.63.
The trend indicates a somewhat inconsistent liquidity position for the company over the given periods. Although the quick ratio improved in Q1 and Q2 of 2023, reaching 0.63, it declined in subsequent quarters.
Overall, the company's quick ratio has generally been below the ideal benchmark of 1, indicating a potential challenge in meeting short-term obligations solely with its quick assets. It would be advisable for United Natural Foods Inc. to closely monitor and potentially improve its liquidity position to ensure its ability to cover immediate liabilities efficiently.
Peer comparison
Jan 27, 2024