Worthington Industries Inc (WOR)
Cash ratio
| Aug 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 178,547 | 227,310 | 430,906 | 201,009 | 422,268 | 267,244 | 129,596 | 35,768 | 34,485 | 44,324 | 225,194 | 399,246 | 640,311 | 649,505 | 713,130 | 650,068 | 147,198 | 103,430 | 72,260 | 45,583 |
| Short-term investments | US$ in thousands | — | — | — | — | 32,678 | — | — | — | — | — | — | 259,132 | -16,857 | 220,415 | 143,850 | 287,630 | — | — | — | — |
| Total current liabilities | US$ in thousands | 166,238 | 202,288 | 945,342 | 868,939 | 717,558 | 664,809 | 660,891 | 784,290 | 932,261 | 1,026,700 | 820,158 | 864,257 | 787,901 | 637,261 | 557,174 | 542,184 | 388,238 | 489,843 | 473,863 | 482,674 |
| Cash ratio | 1.07 | 1.12 | 0.46 | 0.23 | 0.63 | 0.40 | 0.20 | 0.05 | 0.04 | 0.04 | 0.27 | 0.76 | 0.79 | 1.37 | 1.54 | 1.73 | 0.38 | 0.21 | 0.15 | 0.09 |
August 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($178,547K
+ $—K)
÷ $166,238K
= 1.07
The cash ratio of Worthington Industries Inc has fluctuated over the past few quarters. As of August 31, 2024, the cash ratio stood at 1.07, indicating that the company had $1.07 in cash and cash equivalents for every $1 of current liabilities. This demonstrates a healthy liquidity position, suggesting that the company is well-equipped to meet its short-term obligations.
Looking at historical data, the cash ratio has shown variability, with the ratio being highest at 1.73 in May 31, 2020, and lowest at 0.04 in both May 31, 2022, and Feb 28, 2022. A higher cash ratio signifies a stronger ability to cover short-term liabilities with cash on hand. Conversely, a lower ratio could indicate potential liquidity challenges.
The upward trend in the cash ratio from May 31, 2022 (0.04) to Aug 31, 2024 (1.07) suggests an improvement in the company's liquidity position over this period. It is essential for investors and stakeholders to monitor these trends in the cash ratio to assess Worthington Industries Inc's ability to manage its short-term financial obligations effectively.
Peer comparison
Aug 31, 2024