Wabash National Corporation (WNC)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 194,830 | 222,764 | 236,816 | 256,704 | 257,935 | 252,020 | 234,981 | 293,871 | 186,897 | 226,968 | 132,444 | 150,892 | 119,374 | 114,168 | 136,278 | 146,916 | 181,438 | 177,880 | 170,382 | 185,950 |
| 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 |
| Quick ratio | 1.06 | 0.83 | 0.77 | 0.77 | 0.91 | 0.84 | 0.86 | 0.98 | 0.89 | 0.96 | 0.94 | 1.07 | 1.43 | 1.18 | 1.17 | 1.12 | 1.24 | 0.92 | 0.97 | 0.94 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($179,271K
+ $—K
+ $194,830K)
÷ $352,209K
= 1.06
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates a stronger liquidity position.
Looking at the trend of Wabash National Corp.'s quick ratio over the past eight quarters, we observe some fluctuations. In Q4 2023, the quick ratio increased to 1.17 from the previous quarter's ratio of 0.96, indicating an improvement in the company's ability to cover its current liabilities with its most liquid assets. This suggests that Wabash National Corp. may have increased its liquid assets or reduced its current liabilities in Q4 2023.
Comparing this to the same quarter in the previous year, where the quick ratio was 1.00, we see a notable improvement in liquidity. The current quick ratio of 1.17 indicates that Wabash National Corp. may be in a better position to meet its short-term obligations without relying heavily on inventory or other less liquid assets.
However, it is important to note that while the quick ratio has improved in Q4 2023, it had been fluctuating in the previous quarters, possibly signaling some variability in the company's liquidity management. Investors and analysts may want to further investigate the reasons behind these fluctuations to assess the company's overall financial health and liquidity management.