Cactus Inc (WHD)
Quick ratio
| Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 194,257 | 133,792 | 63,738 | 63,910 | 75,422 | 344,527 | 320,623 | 311,684 | 297,741 | 301,669 | 301,974 | 309,082 | 291,970 | 288,659 | 273,941 | 270,673 | 230,202 | 202,603 | 167,545 | 131,149 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 239,324 | 232,181 | 242,851 | 249,590 | 237,342 | 173,168 | 166,048 | 154,121 | 127,011 | 113,305 | 97,301 | 87,225 | 68,533 | 52,768 | 48,690 | 52,724 | 116,736 | 111,665 | 100,305 | 112,963 |
| Total current liabilities | US$ in thousands | 190,670 | 175,660 | 177,367 | 180,731 | 186,566 | 116,649 | 132,187 | 113,638 | 102,457 | 92,574 | 87,951 | 73,560 | 55,056 | 48,915 | 47,997 | 58,778 | 81,414 | 91,126 | 89,580 | 92,955 |
| Quick ratio | 2.27 | 2.08 | 1.73 | 1.73 | 1.68 | 4.44 | 3.68 | 4.10 | 4.15 | 4.48 | 4.54 | 5.39 | 6.55 | 6.98 | 6.72 | 5.50 | 4.26 | 3.45 | 2.99 | 2.63 |
March 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($194,257K
+ $—K
+ $239,324K)
÷ $190,670K
= 2.27
The quick ratio of Cactus Inc has fluctuated over the past several quarters, ranging from a low of 1.68 to a high of 6.98. This ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.
In the most recent quarter, as of March 31, 2024, the quick ratio stands at 2.27, indicating that the company has $2.27 in liquid assets for every $1 of current liabilities. This suggests that Cactus Inc has a healthy liquidity position to cover its short-term obligations.
Looking at the trend over the past few quarters, the quick ratio has generally been trending upwards since the beginning of 2021, peaking at 6.98 in December 2021. This significant increase may have been influenced by various factors such as improved cash management, reduced short-term debt, or an increase in highly liquid assets like cash and marketable securities.
It is important for investors and stakeholders to continue monitoring the quick ratio of Cactus Inc to ensure that the company maintains a strong liquidity position to weather any potential financial challenges in the future.
Peer comparison
Mar 31, 2024