Woodward Inc (WWD)
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 | 144,348 | 137,447 | 114,107 | 129,427 | 99,335 | 107,844 | 99,342 | 207,833 | 426,075 | 446,555 | 360,100 | 285,687 | 199,973 | 149,773 | 98,483 | 99,969 | 145,378 | 97,573 | 63,302 | 65,303 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 495,044 | 499,347 | 484,672 | 442,187 | 348,041 | 373,948 | 334,677 | 338,990 | 274,239 | 334,190 | 393,046 | 408,439 | 346,720 | 386,544 | 369,481 | 437,044 | 375,717 | 424,304 | 460,868 | 469,622 |
| Total current liabilities | US$ in thousands | 582,814 | 617,196 | 586,659 | 666,944 | 633,161 | 539,113 | 424,474 | 369,046 | 329,508 | 366,257 | 340,577 | 341,408 | 328,110 | 392,332 | 535,628 | 594,834 | 792,045 | 707,436 | 642,672 | 642,612 |
| Quick ratio | 1.10 | 1.03 | 1.02 | 0.86 | 0.71 | 0.89 | 1.02 | 1.48 | 2.13 | 2.13 | 2.21 | 2.03 | 1.67 | 1.37 | 0.87 | 0.90 | 0.66 | 0.74 | 0.82 | 0.83 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($144,348K
+ $—K
+ $495,044K)
÷ $582,814K
= 1.10
The Quick Ratio of Woodward Inc has been fluctuating over the past eight quarters, ranging from a low of 1.24 in Q1 2023 to a high of 2.29 in Q2 2022. This ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A higher quick ratio indicates a stronger ability to cover short-term liabilities.
In Q1 2024, Woodward Inc's quick ratio stood at 1.69, indicating that the company had $1.69 in liquid assets available to cover each $1 of current liabilities. This demonstrates a relatively strong liquidity position compared to the previous quarters, especially compared to the lower quick ratios observed in Q1 2023 and Q2 2023.
While the quick ratio has shown variability, indicating fluctuations in the company's short-term liquidity position, it is essential to consider the industry benchmarks and historical trends to provide further insight into Woodward Inc's overall financial health and liquidity management.