Crown Holdings Inc (CCK)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,310,000 | 550,000 | 531,000 | 1,173,000 | 607,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 4,201,000 | 3,932,000 | 4,133,000 | 4,282,000 | 3,899,000 |
| Cash ratio | 0.31 | 0.14 | 0.13 | 0.27 | 0.16 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,310,000K
+ $—K)
÷ $4,201,000K
= 0.31
The cash ratio of Crown Holdings, Inc. has fluctuated over the past five years. In 2023, the cash ratio was 0.36, indicating that the company had $0.36 in cash and cash equivalents for every $1 of current liabilities. This was an improvement from 2022 when the cash ratio was 0.20. In 2021, the cash ratio was slightly higher at 0.19, but it increased significantly to 0.33 in 2020. However, in 2019, the cash ratio was 0.22.
Overall, Crown Holdings, Inc. seems to have strengthened its liquidity position in 2023 compared to the previous year, as indicated by the increase in the cash ratio. It is essential to monitor the trend of the cash ratio over time to understand the company's ability to meet its short-term obligations using its available cash and cash equivalents.
Peer comparison
Dec 31, 2023