Liquiditätskennzahlen

Liquiditätskennzahlen, also known as liquidity ratios, are financial metrics used to assess a company's ability to meet its short-term obligations. These ratios are crucial for investors, creditors, and management to understand a company's short-term financial health and solvency.

The most common liquidity ratios include the current ratio, the quick ratio (also known as the acid-test ratio), and the cash ratio. The current ratio compares a company's current assets to its current liabilities. A ratio above 1 generally indicates that the company has enough assets to cover its short-term debts. The quick ratio is similar to the current ratio but excludes less liquid assets, such as inventory, from current assets. This provides a more stringent measure of immediate liquidity. The cash ratio is the most conservative of the three, focusing solely on a company's most liquid assets, like cash and cash equivalents, to cover its short-term liabilities.

Interpreting liquidity ratios requires context. A "good" ratio can vary significantly by industry. For instance, companies with long production cycles might have lower current ratios than those with rapid inventory turnover. Furthermore, trends over time are more insightful than a single snapshot. A declining liquidity ratio could signal potential financial distress, while an increasing ratio might indicate improved financial stability. Management uses these ratios to optimize working capital and ensure sufficient funds are available to meet operational needs and debt payments.