Spruce Power Holding has a Cash Ratio of 1.81. It generally indicates that the company is able to cover all short-term debt and still have cash remaining.
The historical rank and industry rank for Spruce Power Holding's Cash Ratio or its related term are showing as below:
SPRU'
s Cash Ratio Range Over the Past 10 Years
Min: 0.22 Med: 3.69 Max: 36.64
Current: 1.81
During the past 5 years, Spruce Power Holding's highest Cash Ratio was 36.64. The lowest was 0.22. And the median was 3.69.
SPRU's Cash Ratio is ranked better than 67.6% of 1000
companies
in the Semiconductors industry
Industry Median: 1.01
vs SPRU: 1.81
Spruce Power Holding Cash Ratio Historical Data
The historical data trend for Spruce Power Holding's Cash 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.
Competitive Comparison of Spruce Power Holding's Cash Ratio
For the Solar subindustry, Spruce Power Holding's Cash Ratio, along with its competitors' market caps and Cash 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.
Spruce Power Holding's Cash Ratio Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Spruce Power Holding's Cash Ratio distribution charts can be found below:
* The bar in red indicates where Spruce Power Holding's Cash Ratio falls into.
Spruce Power Holding Cash Ratio Calculation
The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.
Spruce Power Holding's Cash Ratio for the fiscal year that ended in Dec. 2023 is calculated as:
* 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.
Spruce Power Holding (NYSE:SPRU) Cash Ratio Explanation
The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.
The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.
In general, the higher the cash ratio, the better the company's liquidity position.
Spruce Power Holding Cash Ratio Related Terms
Thank you for viewing the detailed overview of Spruce Power Holding's Cash Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Spruce Power Holding Corp is a leading owner and operator of distributed solar energy assets across the United States (the U.S.), offering subscription-based services to approximately 75,000 home solar assets and customer contracts, making renewable energy more accessible to everyone. The Company's primary customers are homeowners and the Company's core solar service offerings generate revenues primarily through (i) the sale of electricity generated by its home solar energy systems to homeowners, (ii) third-party contracts to sell solar renewable energy credits (SRECs) generated by the solar energy systems for fixed prices and (iii) the servicing of those agreements for other institutional owners of home solar energy systems.
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