Werner Enterprises Inc (WERN)

Cash 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 and cash equivalents	US$ in thousands	61,723	42,754	46,502	129,591	107,240	125,683	54,424	125,949	54,196	45,428	192,128	83,130	29,334	40,476	65,389	72,237	26,418	14,354	46,420	64,742
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	330,585	329,664	315,129	303,329	309,520	302,634	470,980	290,271	268,683	261,228	259,187	307,761	274,014	256,208	249,623	304,671	308,840	331,921	228,570	322,599
Cash ratio		0.19	0.13	0.15	0.43	0.35	0.42	0.12	0.43	0.20	0.17	0.74	0.27	0.11	0.16	0.26	0.24	0.09	0.04	0.20	0.20

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($61,723K + $—K) ÷ $330,585K
= 0.19

The cash ratio measures a company's ability to cover its short-term liabilities using its cash and cash equivalents. A higher cash ratio indicates a greater ability to meet short-term obligations.

Looking at Werner Enterprises, Inc.'s cash ratio over the past eight quarters, we can observe fluctuations in the ratio. In Q1 2023 and Q3 2023, the cash ratio was 0.67 and 0.46, respectively, indicating a relatively strong ability to cover short-term liabilities with cash on hand. On the other hand, the cash ratio dropped to 0.24 in Q2 2022, suggesting a lower liquidity position during that period.

Overall, Werner Enterprises, Inc. has demonstrated varying levels of liquidity over the quarters analyzed, with some quarters showing stronger cash positions than others. It is essential for investors and analysts to consider the trend in the cash ratio over time to assess the company's ability to manage its short-term financial obligations effectively.