Werner Enterprises Inc (WERN)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 447,152 | 452,389 | 440,281 | 463,653 | 521,506 | 493,139 | 482,006 | 449,602 | 463,904 | 426,346 | 391,082 | 347,902 | 344,911 | 337,897 | 299,383 | 310,900 | 328,541 | 323,400 | 331,239 | 313,524 |
| 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 |
| Quick ratio | 1.54 | 1.50 | 1.54 | 1.96 | 2.03 | 2.04 | 1.14 | 1.98 | 1.93 | 1.81 | 2.25 | 1.40 | 1.37 | 1.48 | 1.46 | 1.26 | 1.15 | 1.02 | 1.65 | 1.17 |
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 shown some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.
In Q4 2023, the quick ratio decreased to 1.87 from 1.90 in Q3 2023. This indicates that the company may have slightly fewer liquid assets available to cover its current liabilities compared to the previous quarter.
Looking further back, Q4 2023's quick ratio of 1.87 is notably lower than the ratios seen in Q4 2022 (2.42) and Q3 2022 (2.37), suggesting a decrease in liquidity compared to the same periods in the previous year.
However, it is important to note that the quick ratio in Q4 2023 (1.87) is still higher than the quick ratio in Q1 2022 (1.61) and Q2 2022 (1.88), indicating that the company's liquidity position has improved compared to those quarters.
Overall, while the recent decrease in the quick ratio may raise some concerns about the company's short-term liquidity, the ratio remains above 1 in all quarters, indicating that Werner Enterprises, Inc. maintains a healthy level of liquid assets relative to its current liabilities.
Peer comparison
Dec 31, 2023