Viad Corp (VVI)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	52,704	59,719	61,600	39,545	61,999
Short-term investments	US$ in thousands	212,536	13,967	—	15,492	—
Receivables	US$ in thousands	128,689	122,695	93,867	18,174	139,496
Total current liabilities	US$ in thousands	229,796	211,117	175,126	97,733	237,323
Quick ratio		1.71	0.93	0.89	0.75	0.85

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($52,704K + $212,536K + $128,689K) ÷ $229,796K
= 1.71

The quick ratio measures Viad Corp.'s ability to cover its short-term liabilities with its most liquid assets. A quick ratio of above 1 suggests that the company has sufficient liquid assets to cover its short-term obligations.

Looking at the trend over the past five years, we observe fluctuations in Viad Corp.'s quick ratio. In 2019, the quick ratio was particularly low at 0.44, indicating potential liquidity challenges. However, this improved significantly in 2020 to 0.84, suggesting a stronger liquidity position.

Subsequently, in 2021 and 2022, Viad Corp. maintained a stable quick ratio of 1.06, reflecting a healthy ability to meet short-term liabilities with liquid assets. However, in 2023, the quick ratio declined slightly to 0.95, indicating a potential decrease in liquidity compared to the previous year.

Overall, while Viad Corp.'s quick ratio has shown some variability, the company has generally maintained a solid liquidity position, with ratios above 1 in recent years. It would be advisable for stakeholders to monitor future trends in the quick ratio to ensure that Viad Corp. continues to effectively manage its short-term liquidity needs.