US Physicalrapy Inc (USPH)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 51,866 | 52,958 | 54,285 | 56,647 | 51,934 | 49,747 | 50,549 | 49,335 | 47,772 | 46,456 | 45,144 | 45,394 | 41,906 | 39,439 | 36,029 | 42,649 | 46,228 | 47,118 | 44,923 | 48,443 |
| 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 |
| Quick ratio | 2.00 | 2.48 | 2.55 | 1.01 | 1.01 | 1.10 | 1.16 | 0.83 | 0.91 | 0.80 | 0.87 | 0.70 | 0.80 | 0.75 | 0.91 | 1.86 | 1.15 | 1.19 | 1.40 | 1.00 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($152,825K
+ $—K
+ $51,866K)
÷ $102,185K
= 2.00
The quick ratio of U.S. Physical Therapy, Inc. has shown fluctuations over the past eight quarters, ranging from a low of 1.08 in Q1 2022 to a high of 2.82 in Q2 2023. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets, excluding inventory.
A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities, suggesting a strong liquidity position. U.S. Physical Therapy's quick ratio has generally remained above 1 in the last two years, indicating a consistent ability to meet its short-term financial obligations.
The recent upward trend in the quick ratio from Q1 2023 to Q3 2023, peaking at 2.82 in Q2 2023, reflects an improvement in the company's liquidity position. This increase suggests that U.S. Physical Therapy may have increased its cash reserves or other liquid assets relative to its current liabilities during this period.
However, the drop in the quick ratio to 1.30 in Q4 2023 compared to the previous quarter could indicate a slight weakening in the company's liquidity position. It is important for investors and stakeholders to monitor the quick ratio over time to assess the company's ability to weather short-term financial challenges and meet its obligations promptly.
Peer comparison
Dec 31, 2023