US Physicalrapy Inc (USPH)
Cash 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 and cash equivalents | US$ in thousands | 152,825 | 147,685 | 160,738 | 32,605 | 31,594 | 37,914 | 48,572 | 24,229 | 28,567 | 19,188 | 20,419 | 17,937 | 32,918 | 30,129 | 43,555 | 89,551 | 23,548 | 27,856 | 34,859 | 20,238 |
| Short-term investments | US$ in thousands | — | 3,500 | 3,500 | 2,614 | 2,858 | 1,948 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 102,185 | 82,356 | 85,816 | 90,833 | 85,489 | 81,488 | 85,105 | 89,020 | 83,481 | 81,668 | 75,379 | 90,825 | 93,492 | 93,200 | 87,353 | 71,149 | 60,563 | 62,798 | 57,020 | 68,930 |
| Cash ratio | 1.50 | 1.84 | 1.91 | 0.39 | 0.40 | 0.49 | 0.57 | 0.27 | 0.34 | 0.23 | 0.27 | 0.20 | 0.35 | 0.32 | 0.50 | 1.26 | 0.39 | 0.44 | 0.61 | 0.29 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($152,825K
+ $—K)
÷ $102,185K
= 1.50
The cash ratio of U.S. Physical Therapy, Inc. has shown fluctuations over the past eight quarters. The company's cash ratio in Q4 2023 stood at 1.60, indicating that there was $1.60 in cash and cash equivalents available for every $1 of current liabilities. This ratio decreased from the previous quarter, Q3 2023, where the cash ratio was 1.91.
Comparing the current ratio of Q4 2023 to earlier quarters, it appears to be relatively strong. In Q2 and Q3 2023, the cash ratio was 1.99 and 0.48 respectively. This suggests that the company had a higher ability to cover its short-term obligations with cash and cash equivalents in the second quarter, but the ratio dropped significantly in the first quarter of 2023.
Looking back at the cash ratios in the corresponding periods of the previous year, the company has shown improvement in Q4 2023 compared to Q4 2022 when the ratio was 0.50. Over the quarters from Q1 2022 to Q3 2023, there has been a general increasing trend in the cash ratio, indicating that the company has been managing its cash position more effectively over this period.
Overall, it is important for U.S. Physical Therapy, Inc. to maintain a healthy cash ratio to ensure that it has sufficient liquidity to meet its short-term obligations and potential operational needs. Monitoring the trend of the cash ratio over time can provide valuable insights into the company's financial health and management of its cash resources.
Peer comparison
Dec 31, 2023