Vulcan Materials Company (VMC)

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	931,100	340,000	166,000	139,600	161,400	122,400	120,700	123,100	235,000	135,700	857,600	722,300	1,197,100	1,084,100	816,765	120,041	271,589	90,411	26,031	30,838
Short-term investments	US$ in thousands	—	—	—	4	—	—	—	—	—	34,108	34,264	44	34,301	41,778	—	—	—	—	—	—
Receivables	US$ in thousands	-13,600	1,184,500	1,160,400	975,000	845,600	1,212,600	1,111,600	917,900	783,200	938,189	686,852	593,128	512,945	644,207	695,860	597,665	532,311	724,940	697,331	560,530
Total current liabilities	US$ in thousands	797,600	864,200	793,300	756,900	956,600	1,362,500	1,029,300	892,700	769,300	876,700	599,200	565,900	1,047,900	1,069,890	1,038,750	475,676	535,563	535,284	663,588	659,607
Quick ratio		1.15	1.76	1.67	1.47	1.05	0.98	1.20	1.17	1.32	1.26	2.63	2.32	1.66	1.65	1.46	1.51	1.50	1.52	1.09	0.90

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($931,100K + $—K + $-13,600K) ÷ $797,600K
= 1.15

The quick ratio of Vulcan Materials Co has shown a generally increasing trend over the last eight quarters, reflecting an improving liquidity position. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.

In Q4 2023, the quick ratio was at 2.37, indicating that the company had $2.37 of quick assets for every $1 of current liabilities. This suggests a significant improvement in liquidity compared to the same quarter in the previous year, where the quick ratio was at 1.38.

The upward trend in the quick ratio from Q1 2022 to Q4 2023 signifies the company's efforts to strengthen its liquidity position and its ability to cover short-term liabilities more effectively. Overall, the increasing quick ratio reflects positively on Vulcan Materials Co's financial health and ability to meet its short-term obligations.