United Rentals Inc (URI)
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 | 363,000 | 284,000 | 227,000 | 99,000 | 106,000 | 76,000 | 68,000 | 101,000 | 144,000 | 320,000 | 336,000 | 278,000 | 202,000 | 174,000 | 127,000 | 513,000 | 52,000 | 60,000 | 75,000 | 52,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 2,230,000 | 2,277,000 | 2,138,000 | 2,034,000 | 2,004,000 | 1,934,000 | 1,744,000 | 1,607,000 | 1,677,000 | 1,602,000 | 1,400,000 | 1,254,000 | 1,315,000 | 1,324,000 | 1,226,000 | 1,413,000 | 1,530,000 | 1,595,000 | 1,525,000 | 1,487,000 |
| Total current liabilities | US$ in thousands | 3,637,000 | 3,673,000 | 3,810,000 | 2,280,000 | 2,445,000 | 2,264,000 | 2,023,000 | 2,597,000 | 2,603,000 | 2,752,000 | 2,544,000 | 1,841,000 | 1,890,000 | 1,916,000 | 1,921,000 | 1,996,000 | 2,198,000 | 2,643,000 | 2,535,000 | 2,238,000 |
| Quick ratio | 0.71 | 0.70 | 0.62 | 0.94 | 0.86 | 0.89 | 0.90 | 0.66 | 0.70 | 0.70 | 0.68 | 0.83 | 0.80 | 0.78 | 0.70 | 0.96 | 0.72 | 0.63 | 0.63 | 0.69 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($363,000K
+ $—K
+ $2,230,000K)
÷ $3,637,000K
= 0.71
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term liabilities using its most liquid assets. United Rentals, Inc.'s quick ratio has fluctuated over the past eight quarters, ranging from 0.69 to 1.05. A quick ratio below 1 suggests that the company may have difficulty meeting its short-term obligations with its liquid assets alone.
The quick ratio was lowest in the second quarter of 2023 at 0.69, indicating a potential liquidity challenge during that period. However, it improved in the following quarter to 1.05, signaling a better ability to cover short-term liabilities with liquid assets. Overall, the trend shows some variability, which may warrant further investigation into the company's liquidity management and working capital policies.
Peer comparison
Dec 31, 2023