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.
Peer comparison
Dec 31, 2023