Werner Enterprises Inc (WERN)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 61,723 | 107,240 | 54,196 | 29,334 | 26,418 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 447,152 | 521,506 | 463,904 | 344,911 | 328,541 |
| Total current liabilities | US$ in thousands | 330,585 | 309,520 | 268,683 | 274,014 | 308,840 |
| Quick ratio | 1.54 | 2.03 | 1.93 | 1.37 | 1.15 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($61,723K
+ $—K
+ $447,152K)
÷ $330,585K
= 1.54
The quick ratio of Werner Enterprises, Inc. has fluctuated over the past five years. In 2023, the quick ratio stood at 1.87, a decrease from the previous year's ratio of 2.42. This indicates that the company may have slightly fewer liquid assets available to cover its current liabilities in 2023 compared to 2022.
When compared to the ratios from 2021, 2020, and 2019, the quick ratio has generally shown an improving trend. The ratio was highest in 2022 at 2.42, indicating that the company had a higher level of liquid assets relative to its current liabilities.
Overall, the quick ratio for Werner Enterprises, Inc. suggests that the company has maintained a relatively strong liquidity position over the past five years, with the ability to cover its short-term obligations. However, the decrease in the ratio in 2023 compared to the previous year may warrant further investigation into the company's liquidity management and financial health.
Peer comparison
Dec 31, 2023