Wabash National Corporation (WNC)
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 | 179,271 | 105,288 | 98,791 | 68,245 | 58,245 | 81,478 | 138,484 | 72,794 | 71,778 | 49,374 | 134,375 | 168,887 | 217,677 | 215,822 | 135,993 | 154,587 | 140,516 | 120,873 | 140,155 | 151,916 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 352,209 | 393,217 | 433,410 | 424,401 | 347,468 | 397,364 | 432,688 | 372,660 | 289,325 | 287,977 | 282,549 | 298,578 | 235,753 | 279,791 | 232,114 | 269,535 | 259,378 | 325,662 | 321,314 | 360,583 |
| Cash ratio | 0.51 | 0.27 | 0.23 | 0.16 | 0.17 | 0.21 | 0.32 | 0.20 | 0.25 | 0.17 | 0.48 | 0.57 | 0.92 | 0.77 | 0.59 | 0.57 | 0.54 | 0.37 | 0.44 | 0.42 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($179,271K
+ $—K)
÷ $352,209K
= 0.51
The cash ratio of Wabash National Corp. has fluctuated over the past eight quarters, ranging from as low as 0.26 in Q1 2023 to as high as 0.66 in Q4 2023. A cash ratio below 1 indicates that the company has more current liabilities than cash on hand to cover them.
The trend shows an improvement in liquidity from Q1 2023 to Q4 2023, with the cash ratio increasing steadily over this period. This suggests that the company has been able to increase its cash reserves relative to its current liabilities.
Comparing Q4 2023 to Q4 2022, there has been a significant improvement in the cash ratio, indicating better liquidity management over the year. However, it is essential to note that the cash ratio is just one measure of a company's liquidity, and it is crucial to consider other factors such as operating cash flows and short-term debt obligations for a comprehensive analysis of Wabash National Corp.'s liquidity position.