Vestis Corporation (VSTS)
Cash ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 31,010 | 29,098 | 30,659 | 48,857 | 36,051 | 30,000 | 30,000 | -23,736 | 23,736 | — |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | 47,472 | — | — |
| Total current liabilities | US$ in thousands | 456,102 | 429,792 | 400,154 | 393,805 | 395,525 | 367,298 | 379,244 | 368,724 | 402,195 | — |
| Cash ratio | 0.07 | 0.07 | 0.08 | 0.12 | 0.09 | 0.08 | 0.08 | 0.06 | 0.06 | — |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($31,010K
+ $—K)
÷ $456,102K
= 0.07
The cash ratio of Vestis Corporation has shown some fluctuations over the past several quarters. The cash ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
In the most recent quarter, as of September 30, 2024, Vestis Corporation had a cash ratio of 0.07. This indicates that for every dollar of current liabilities, the company had $0.07 in cash and cash equivalents available to cover those obligations.
Comparing this ratio to previous quarters, we can see that the cash ratio has remained relatively stable around the 0.07 to 0.09 range, with a peak of 0.12 in December 31, 2023. A decreasing trend was observed from December 31, 2023, to September 30, 2024.
Overall, Vestis Corporation's cash ratio suggests that the company may have some liquidity risk, as the ratio is relatively low. This means that the company should closely monitor its cash position and ensure it has enough liquidity to meet its short-term obligations.
Peer comparison
Sep 30, 2024