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.