Worthington Industries Inc (WOR)
Cash ratio
| Nov 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 193,805 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 32,678 | — | — | — | — | — | — | 259,132 | -16,857 | 220,415 | 143,850 | 287,630 | — | — | — |
| Total current liabilities | US$ in thousands | 169,464 | 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 |
| Cash ratio | 1.14 | 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 |
November 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($193,805K
+ $—K)
÷ $169,464K
= 1.14
The cash ratio of Worthington Industries Inc has shown fluctuations over the period from November 30, 2019, to November 30, 2024. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover liabilities.
- The cash ratio increased steadily from November 30, 2019, to August 31, 2020, reaching its peak at 1.73, suggesting a healthy liquidity position during this period.
- However, from November 30, 2020, to February 28, 2022, the cash ratio declined significantly, hitting its lowest point of 0.04, indicating a decrease in the company's ability to cover short-term obligations with cash on hand.
- The cash ratio showed some improvement from May 31, 2022, to February 29, 2024, with the ratio fluctuating between 0.04 and 1.14, showing some variability in the company's liquidity position during this period.
- By August 31, 2024, the cash ratio had improved to 1.07, indicating a stronger ability to cover short-term liabilities with available cash.
Overall, the cash ratio of Worthington Industries Inc has displayed fluctuations, with periods of strong liquidity followed by periods of lower liquidity. It is important for the company to maintain a healthy cash ratio to ensure it can meet its short-term financial obligations effectively.
Peer comparison
Nov 30, 2024