Chemours Co (CC)
Quick ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,203,000 | 852,000 | 738,000 | 816,000 | 1,102,000 | 1,167,000 | 1,248,000 | 1,145,000 | 1,451,000 | 1,031,000 | 1,139,000 | 1,008,000 | 1,105,000 | 956,000 | 1,031,000 | 714,000 | 943,000 | 694,000 | 630,000 | 697,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | 178,000 | — | 167 | 182 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 610,000 | 846,000 | 890,000 | 837,000 | 626,000 | 980,000 | 1,066,000 | 1,014,000 | 720,000 | 831,000 | 802,000 | 723,000 | 511,000 | 572,000 | 540,000 | 681,000 | 674,000 | 832,000 | 879,000 | 847,000 |
| Total current liabilities | US$ in thousands | 2,486,000 | 2,925,000 | 2,190,000 | 1,745,000 | 1,891,000 | 1,951,000 | 1,886,000 | 1,775,000 | 1,858,000 | 1,779,000 | 1,674,000 | 1,501,000 | 1,442,000 | 1,308,000 | 1,156,000 | 1,343,000 | 1,541,000 | 1,643,000 | 1,448,000 | 1,572,000 |
| Quick ratio | 0.73 | 0.58 | 0.74 | 0.95 | 0.91 | 1.10 | 1.23 | 1.22 | 1.17 | 1.05 | 1.27 | 1.15 | 1.12 | 1.17 | 1.36 | 1.04 | 1.05 | 0.93 | 1.04 | 0.98 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,203,000K
+ $—K
+ $610,000K)
÷ $2,486,000K
= 0.73
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that a company has more liquid assets than current liabilities, suggesting a strong ability to cover short-term debt. On the other hand, a quick ratio below 1 may indicate potential liquidity issues.
Analyzing Chemours Co's quick ratio over the provided periods, we observe fluctuations in the company's ability to cover its short-term liabilities with liquid assets. The quick ratio fluctuated between 0.58 and 1.36 during the period from December 2019 to December 2023.
- The quick ratio was below 1 (ranging from 0.58 to 0.95) for the majority of periods, indicating that Chemours Co may have faced challenges meeting its short-term obligations with its readily available assets during these periods.
- However, there were also instances where the quick ratio exceeded 1 (ranging from 1.04 to 1.36), indicating improved liquidity and a stronger ability to cover short-term liabilities with liquid assets.
Overall, a fluctuating quick ratio for Chemours Co suggests varying levels of liquidity and potential challenges in meeting short-term obligations during certain periods. It is important for investors and analysts to closely monitor these fluctuations to assess the company's liquidity position effectively.
Peer comparison
Dec 31, 2023