Allete Inc (ALE)
Cash ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 32,800 | 101,900 | 37,500 | 32,000 | 71,900 | 125,500 | 47,900 | 29,900 | 36,400 | 42,100 | 74,600 | 60,100 | 45,100 | 59,000 | 62,500 | 159,000 | 44,300 | 79,000 | 25,700 | 67,000 |
| Short-term investments | US$ in thousands | — | 6,600 | — | — | — | — | — | — | — | — | — | — | — | 317,000 | — | 301,000 | 301,000 | 291,000 | — | — |
| Total current liabilities | US$ in thousands | 404,200 | 334,400 | 297,600 | 260,800 | 377,600 | 413,500 | 380,300 | 464,400 | 716,200 | 706,000 | 709,000 | 556,600 | 543,400 | 646,000 | 595,500 | 574,900 | 459,600 | 630,000 | 727,700 | 623,100 |
| Cash ratio | 0.08 | 0.32 | 0.13 | 0.12 | 0.19 | 0.30 | 0.13 | 0.06 | 0.05 | 0.06 | 0.11 | 0.11 | 0.08 | 0.58 | 0.10 | 0.80 | 0.75 | 0.59 | 0.04 | 0.11 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($32,800K
+ $—K)
÷ $404,200K
= 0.08
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. From the provided data, we can observe fluctuations in Allete Inc's cash ratio over the reported periods. The cash ratio started at a low level of 0.11 on March 31, 2020, dropped significantly to 0.04 on June 30, 2020, and then increased notably to 0.75 by December 31, 2020, indicating an improvement in the company's liquidity position.
Subsequently, we see fluctuations in the cash ratio figures, with a peak of 0.80 on March 31, 2021, and a low of 0.05 on December 31, 2022. These variations suggest potential changes in Allete Inc's cash holdings and short-term liabilities management during the respective periods.
Overall, the cash ratio remained relatively stable around the range of 0.10 to 0.32 from June 30, 2021, to September 30, 2024, with occasional fluctuations. It is essential for investors and stakeholders to monitor these fluctuations in the cash ratio to assess the company's liquidity position and its ability to meet its short-term obligations.
Peer comparison
Dec 31, 2024