ConAgra Foods Inc (CAG)
Cash ratio
| May 31, 2024 | May 26, 2024 | May 31, 2023 | May 28, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 77,700 | 77,700 | 93,300 | 93,300 | 83,300 |
| Short-term investments | US$ in thousands | — | — | — | 600 | — |
| Total current liabilities | US$ in thousands | 3,241,800 | 3,241,800 | 4,440,700 | 4,440,700 | 3,518,800 |
| Cash ratio | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
May 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($77,700K
+ $—K)
÷ $3,241,800K
= 0.02
The cash ratio of ConAgra Foods Inc has been consistently low at 0.02 for the periods ending on May 31, 2022, May 28, 2023, May 31, 2023, May 26, 2024, and May 31, 2024. This indicates that the company's ability to cover its short-term liabilities solely with cash and cash equivalents is limited. A low cash ratio may suggest that ConAgra Foods Inc relies more on other liquid assets or external sources of funding to meet its short-term obligations. It is important for the company to closely monitor and manage its liquidity position to ensure it can effectively meet its financial commitments as they come due.
Peer comparison
May 31, 2024