Cross Country Healthcare Inc (CCRN)

Cash 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 and cash equivalents	US$ in thousands	17,094	14,301	673	291,000	3,604	30,320	279,000	1,208	1,036	842	18,127	13,488	1,600	3,446	6,234	12,599	1,032	9,458	24,830	18,286
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	148,587	183,578	216,027	264,908	271,640	276,790	268,658	283,245	199,770	144,662	122,060	121,660	93,423	96,666	98,781	99,002	85,465	93,488	94,144	89,788
Cash ratio		0.12	0.08	0.00	1.10	0.01	0.11	1.04	0.00	0.01	0.01	0.15	0.11	0.02	0.04	0.06	0.13	0.01	0.10	0.26	0.20

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($17,094K + $—K) ÷ $148,587K
= 0.12

The cash ratio for Cross Country Healthcares, Inc. fluctuated over the past eight quarters, ranging from a low of 0.03 in Q1 2022 to a high of 0.23 in Q4 2023. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher ratio indicates a stronger ability to pay off current obligations.

The company's cash ratio was relatively low in Q1 and Q2 2022, indicating a limited ability to cover short-term liabilities with available cash. However, the ratio improved significantly in Q3 and Q4 2022, reaching 0.16 and 0.10, respectively.

In 2023, the cash ratio continued to fluctuate, with a notable increase in Q4 to 0.23, suggesting a strengthened liquidity position compared to previous quarters. Despite this improvement, the ratio dropped in Q1 2023, highlighting potential variability in the company's ability to meet short-term obligations with cash on hand.

Overall, Cross Country Healthcares, Inc. should monitor its cash ratio closely to ensure it maintains adequate liquidity to meet its short-term financial commitments. An analysis of the underlying reasons for the fluctuations in the cash ratio could provide valuable insights into the company's cash management practices and financial health.