Viad Corp (VVI)

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	52,704	106,268	53,179	50,818	59,719	74,102	54,516	57,902	61,600	110,756	37,037	34,714	39,545	110,756	154,216	130,528	61,999	56,638	45,578	43,473
Short-term investments	US$ in thousands	212,536	13,805	15,272	14,361	13,967	—	—	—	—	—	16,090	15,709	15,492	19,937	—	—	—	—	—	—
Receivables	US$ in thousands	128,689	135,274	147,655	134,111	122,695	521	160,862	96,920	93,867	76,338	32,771	19,377	18,174	21,316	36,786	130,573	139,496	154,383	169,586	147,122
Total current liabilities	US$ in thousands	229,796	266,931	257,086	245,816	211,117	31,701	268,022	214,334	175,126	176,529	135,319	99,347	97,733	99,653	119,267	623,740	237,323	545,708	565,111	483,833
Quick ratio		1.71	0.96	0.84	0.81	0.93	2.35	0.80	0.72	0.89	1.06	0.63	0.70	0.75	1.53	1.60	0.42	0.85	0.39	0.38	0.39

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, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated by dividing the sum of cash, cash equivalents, and accounts receivable by current liabilities.

Viad Corp.'s quick ratio has shown some fluctuations over the past eight quarters. In the fourth quarter of 2023, the quick ratio was 0.95, indicating that the company had $0.95 in liquid assets available to cover each $1 of current liabilities. This suggests a slightly weaker position compared to the previous quarter's quick ratio of 1.12.

The quick ratios in the third and second quarters of 2023 were 0.95 and 0.94 respectively, showing a relatively stable but lower liquidity position. The quick ratio in the fourth quarter of 2022 was 1.06, which was also the same in the third quarter of 2022. However, in the second quarter of 2022, the quick ratio was 0.95, and in the first quarter of 2022, it was 0.89, indicating lower liquidity levels.

Overall, Viad Corp.'s recent quick ratios suggest that the company may have had some challenges in maintaining a strong short-term liquidity position. It is essential for the company to closely monitor and manage its liquidity levels to ensure it can meet its short-term obligations effectively.