Worthington Industries Inc (WOR)
Quick ratio
| 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 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 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 | 92,363 |
| Short-term investments | US$ in thousands | — | — | — | 32,678 | — | — | — | — | — | — | 259,132 | -16,857 | 220,415 | 143,850 | 287,630 | — | — | — | — | — |
| Receivables | US$ in thousands | 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 | 512,838 |
| Total current liabilities | US$ in thousands | 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 | 698,020 |
| Quick ratio | 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 | 0.87 |
February 29, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($227,310K
+ $—K
+ $221,787K)
÷ $202,288K
= 2.22
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its short-term liabilities.
Analyzing Worthington Industries Inc's quick ratio over the past few quarters, we can observe fluctuations in the company's ability to meet its short-term obligations with its liquid assets.
The quick ratio has shown variability, ranging from 0.87 to 2.51 over the past few quarters. In the most recent period as of Feb 29, 2024, the quick ratio stands at 2.22, indicating a strong ability to cover short-term obligations with liquid assets.
However, in the previous period, the quick ratio was relatively lower at 1.14, suggesting a decrease in liquidity compared to the latest period.
Looking back further, we see fluctuations in the quick ratio with periods of both higher and lower liquidity levels. It is important for investors and stakeholders to monitor these fluctuations in the quick ratio as it reflects the company's liquidity position and its ability to meet short-term financial obligations.
Peer comparison
Feb 29, 2024