Worthington Industries Inc (WOR)
Quick 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 | 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 | — | — | — | — |
| Receivables | US$ in thousands | 173,208 | 221,787 | 646,337 | 700,880 | 697,085 | 731,518 | 714,502 | 820,663 | 878,049 | 859,411 | 738,312 | 718,368 | 641,922 | 529,119 | 445,183 | 425,425 | 349,414 | 483,893 | 489,785 | 480,639 |
| 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 |
| Quick ratio | 2.12 | 2.22 | 1.14 | 1.04 | 1.61 | 1.50 | 1.28 | 1.09 | 0.98 | 0.88 | 1.17 | 1.59 | 1.61 | 2.20 | 2.34 | 2.51 | 1.28 | 1.20 | 1.19 | 1.09 |
August 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($178,547K
+ $—K
+ $173,208K)
÷ $166,238K
= 2.12
The quick ratio of Worthington Industries Inc has shown some fluctuations over the past few quarters. It was at its highest level of 2.51 as of May 31, 2020, indicating a strong ability to meet its short-term obligations with its most liquid assets. Subsequently, the quick ratio fluctuated, reaching a low of 0.88 as of May 31, 2022. This decline may suggest potential liquidity challenges in meeting short-term liabilities.
Most recently, as of August 31, 2024, the quick ratio improved to 2.12, signifying a positive trend in the company's liquidity position. While the quick ratio can vary due to the timing of inventory turnover and accounts receivable collection, a ratio above 1 indicates that Worthington Industries Inc has more than enough liquid assets to cover its current liabilities. Overall, the trend in the quick ratio indicates that the company's liquidity position has experienced some fluctuations but has generally remained at manageable levels.
Peer comparison
Aug 31, 2024