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The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. SPX Technologies's quick ratio for the quarter that ended in Dec. 2023 was 1.08.
SPX Technologies has a quick ratio of 1.08. It generally indicates good short-term financial strength.
The historical rank and industry rank for SPX Technologies's Quick Ratio or its related term are showing as below:
During the past 13 years, SPX Technologies's highest Quick Ratio was 1.62. The lowest was 0.78. And the median was 1.03.
The historical data trend for SPX Technologies's Quick Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SPX Technologies Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Quick Ratio | Get a 7-Day Free Trial | 0.78 | 0.91 | 1.62 | 1.43 | 1.08 |
SPX Technologies Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Quick Ratio | Get a 7-Day Free Trial | 1.43 | 1.41 | 0.90 | 0.97 | 1.08 |
For the Building Products & Equipment subindustry, SPX Technologies's Quick Ratio, along with its competitors' market caps and Quick Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Construction industry and Industrials sector, SPX Technologies's Quick Ratio distribution charts can be found below:
* The bar in red indicates where SPX Technologies's Quick Ratio falls into.
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
SPX Technologies's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Quick Ratio (A: Dec. 2023 ) | = | (Total Current Assets | - | Total Inventories) | / | Total Current Liabilities |
= | (709.6 | - | 276.7) | / | 401.2 | |
= | 1.08 |
SPX Technologies's Quick Ratio for the quarter that ended in Dec. 2023 is calculated as
Quick Ratio (Q: Dec. 2023 ) | = | (Total Current Assets | - | Total Inventories) | / | Total Current Liabilities |
= | (709.6 | - | 276.7) | / | 401.2 | |
= | 1.08 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SPX Technologies (NYSE:SPXC) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Thank you for viewing the detailed overview of SPX Technologies's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Natausha Heleena White | officer: VP and CHRO | C/O SPX CORPORATION, 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277 |
J Randall Data | officer: Pres. - S. Africa & Global Op. | 13024 BALLANTYNE CORPORATE PLACE, SUITE 700, CHARLOTTE NC 28277 |
Wayne M. Mclaren | officer: Chief Accounting Officer | C/O SPX CORPORATION, 6325 ARDREY KELL ROAD, CHARLOTTE NC 28277 |
John Webster Nurkin | officer: VP, Gen. Counsel & Secretary | C/O SPX CORPORATION, 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277 |
Mark A Carano | officer: VP, CFO & Treasurer | 13024 BALLANTYNE CORPORATE PLACE, #700, CHARLOTTE NC 28277 |
Sean Mcclenaghan | officer: PRESIDENT, GLOBAL COOLING | SPX TECHNOLOGIES, INC., 6325 ARDREY KELL ROAD, SUITE 400, CHARLOTTE NC 28277 |
Swann John William Iii | officer: Pres., Heating and Location & | C/O SPX CORPORATION, 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277 |
Michael Andrew Reilly | officer: Corp. Controller and CAO | 2007 CHANNELSTONE WAY, MATTHEWS NC 28104 |
Lowe Eugene Joseph Iii | director, officer: President and CEO | 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277 |
James E Harris | officer: VP, CFO and Treasurer | C/O RXO, INC., 11215 N. COMMUNITY HOUSE ROAD, CHARLOTTE NC 28277 |
Ankush Kumar | officer: President, SPX Global Cooling | C/O SPX CORPORATION, 6325 ARDREY KELL ROAD, CHARLOTTE NC 28277 |
Brian G. Mason | officer: Pres. - SPX Transformer Sol. | C/O SPX CORPORATION, 13320-A BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277 |
Angel S Willis | director | C/O SEALED AIR CORPORATION, 2415 CASCADE POINTE BOULEVARD, CHARLOTTE NC 28208 |
Scott William Sproule | officer: VP, CFO and Treasurer | C/O SPX CORPORATION, 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277 |
Meenal Sethna | director | 8755 WEST HIGGINS ROAD, SUITE 500, CHICAGO IL 60631 |
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